How to Spot Properly Regulated Brokers

Broker Discussion Forex Brokers
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I’ve come across some information suggesting that not all brokers are properly listed or regulated, which raises concerns. Could anyone provide guidance on:

  1. What are the key regulations that I should be aware of when selecting a broker?
  2. How do I verify that a broker is properly regulated and not a scam?

Your advice would be much appreciated and helpful!

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Hi @jomina, there is no fix rule to identify good broker. But answering your question, here are my answers:

  • Good regulation for me are ASIC, FCA. CySEC can be considered as well
  • To verify a broker, you can go to the regulator website and look for the information.

The point is, when you want to verify a broker, that means you are preparing to put big sum of money. If you are still trading in less than 1k, no need to verify too far. Some regulator will charge you for further information. I had bought the information to broker I am using seriously.

If you have chance, you can visit their office to verify them directly. Most broker I’m using, had been visited. I got a bunch of well-known brokers “by internet” didn’t have qualification in the real life, such as: empty office, only had few staffs, very small office, located in a slum???

You actually can pick few reputable brokers that have been recommended by other fellas, such as: IC Markets, Pepperstones, Go Markets, Vantage, TickMills, FP Markets, Exness, Axi, Oanda, CMCMarkets.

See, you already have many options. If later you are starting to use more than 50k, you can pay a visit to broker that closed to you to have more confident with them.

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Well you should consider FCA UK or ASIC in my view these are trusted and reputable regulators. Brokers put information about licenses on their website and you can check them in the register of regulators

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Check this out:

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