Unregulated Brokers

Broker Discussion
1

i came up with some other users and we all wondered that why people choose to use and work with unregulated brokers?
as ma friend @tommor once said:

so why would someone do that? if anyone who uses an unregulated broker could please answer my question and defend their decisions, as I am currently searchin for brokers.
thank yall :green_heart:

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2

I think that the same people using these unregulated brokers are the same people that loss money trying to trade. They’re gamblers, and are drawn towards the unregulated brokers because they offer them higher returns which they probably can’t deliver.

Real traders are experts in risk management and would never risk using an unregulated broker.

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3

The reasons are lack of knowledge, lack of research and being suckered in.

Unregulated brokers offer bonuses and high leverage along with marketing that shows how much more you can make with high leverage.

There are some brokers that have moved to poorly regulated places to allow them to continue offering high leverage. But finding a good one vs a bad one is hard to distinguish.

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4

that is a very good question
one person on the internet asked me to register an account on a not regulated brokerage
he tell me everything was ok there but i couldnt trust it
right now i am searching to find a regulated broker with spreads that do not change every secomd
but my first thing ti think is regulat
you are right and i care about regulat and high leverage together

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5

I think the problems came from where they think using high leverages will help them to earn more and they will try leverages such as 1:5000!!!
So, generally I think you can’t risk your money, the time you spend on alanyzing and trading on an unregulated broker.
It is just about lack of knowledge and Greed.

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6

TD365 is a UK regulated broker with fixed spreads.

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7

so youre tellin that no one can make money from unregulated brokers?

8

aha so there IS some good unregulated brokers. or just less awful?

9

how much is high for U? talkin bout leverage

10

youre too extreme! but wait a second which broker offers 1:5000 leverage. ive never heard of such a thing

11

does it accept us residents? cause im searchin for brokers right now

12

Well IC Markets are a reputable broker that are regulated in Australia. They have a separate company regulated somewhere else where you can get high leverage.

High leverage will lead to you blowing your account, so just go for a ASIC or FCA regulated broker where you know they’re tightly regulated

13

OP, I strongly recommend you to go over the following topic,

https://www.babypips.com/learn/forex/kindergarten#choosing-a-broker

I had the “holy guacamole” moment from reading it. By the way, why do you think the subject is found at the VERY beginning of School of Pipsology?

14

Sure you could make money, but as they’re not regulated there is nothing stopping them from closing over night and taking everyone’s money.

Why would you want to put your money at risk?

15

Best Google it, but if you are trading stocks and shares that’s ok…

16

Why did you bring up that comment? You’re just advertising, not really addressing what she said. :joy:

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17

What?

She asked about unregulated brokers, I said there’s very few I’d trust then replied to a further question with an example of who I would and why.

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18

Hello Girl!
Do not search for them, please! Just ignore what I said earlier :slight_smile: Once again, I emphasize the importance of having information about using leverage and also looking for regulated brokers!
Best Luck/

19

I think they use them because they want high and uncommon leverage. Since the brokers can’t be regulated while presenting high leverage some might want to use them.
but that is a really high-risk decision!
I do not know if there is any of them that presents high leverage and its users are fine with their rules and withdrawals (the most important part) but I think that was the reason! (I did not suggest that and I do not use them. just search for yourself if you think it is logical to use them.)

20

I’ve been trading for 15 years and the last 10 with several offshore brokers. Don’t listen to what anyone says, especially here. Instead, go look at years of comments on this topic from traders that have actually done it and are still around today making good money. The only brokers that ever stole my money were “regulated” in the US. Take a look at PFG Best and MF Global for some history. If you do the math, the answer to your question will be in the numbers.

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