It’s definitely a concern if they are thinking about leaving Cyprus. Also, another broker has been going through a tough time too: Week In Review: Chaos at BDSwiss , IronFX Founder's Prop Firm, US FX Deposits, and More
They’re restructuring and stopping operations in some places. A lot of traders are reporting withdrawal problems with them lately, which has got people worried about their stability.
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Wow, that’s rough for them. I’ve heard about those withdrawal complaints. It’s like traders are really starting to question their stability. With all these regulatory pressures, it makes you wonder if it’s becoming a really challenging environment to operate in, no matter where they’re based.
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Exactly! With such brokers struggling, it seems like the whole industry is feeling the pressure. Do you think more brokers might leave if the regulations keep getting stricter?
I wouldn’t be surprised if stricter regulations continue, but honestly, it’s a good thing for traders. These rules are there to protect us and keep brokers accountable. It’s tough for some brokers, sure, but at the end of the day, it’s better to have a safer trading environment.
Pretty much this. While some brokers may struggle, it’s good that regulators are stepping up. Plus we need to keep an eye on broker reviews and customer feedback, they will be useful.
Ps @curiousguy thanks for sharing this link
Came across this wild story about a Thai YouTuber who got busted for a forex scam—apparently, she scammed around 6,000 people out of $55M! Insane, right? Got me wondering that with all these influencers showing up these days, how do we know who’s the real deal? Any tips?
@Dorik Seriously! It’s crazy out here. First rule: check if the broker they mentioned is registered with any regulatory bodies. And if someone promises guaranteed profits? Big red flag!
To add that, do check reviews and what other traders are saying. If you see a bunch of complaints, —just skip
Yep, with all these influencers promoting brokers, the best thing is to research on your own. Trust me, it’ll save you from becoming the star of a “how not to get scammed” video. LOL