How come so many traders seem to harp on about this unregulated bucketshop?
I think newbies are paid or something as it’s always the members with low post counts.
This is what it says under regulation:
“Profiforex’ clients enjoy the financial services of reliable and respectable broker. We insist on the highest standards so that our clients can be sure that they are trading through reliable and professional liquidity providers”.
Sounds like a 12 year made that up and it doesn’t count as regulation saying your are reliable and respectable WTF
You know personally man, regulation is something I really don’t respect that much anymore. I think it’s more like a cover up these days, it has no major effect on the traders right. You still see traders complaining about regulated brokers, my point is regulation doesn’t guarantee effectiveness and reliability from a broker. Traders can still enjoy good services from unregulated brokers, and many experiences have proven that. Besides I think this broker in question is regulated!
I agree with you. I really appreciate the Profiforex platform, it is superbly fast. Slow execution is what leads to slippages sometimes. If an order takes some minutes to be executed, the opening price might change within seconds, which often leads to slippages.
My quote is what it states under regulation on their site. [B]That is not regulation[/B] unless you cannot read.
Stick to your bucketshops if you want but I know if my broker went bankrupt which is unlikely I am compensated up to £50K. What are you entitled to with a broker on an island with no regulation.
And also the poster who said about regulated brokers get complaints too, well of course but 9 out of 10 times it is from noobs who can’t understand the basic concepts of trading.