I’ve been looking at different brokers online and I keep coming across reviews saying SCAM. I’d like to know what brokers other traders use and have had no issues withdrawing their money at any time.
look up regulated brokers in your country and go from there. I use Hugosway (not regulated) but I have yet to have any issues with them, so it just depends on the person
You can try IB, Tickmill or Hotforex. Basically all brokers which have FCA license should pass the key safety criteria. FCA scams are rare so probably you should take this info into account when comparing regulations.
USGFX, regulated by both ASIC and FCA, running for 16 years.
Try FP Markets its ASIC regulated and upon joining FP Markets, you will be assigned to a resource to help you with your setup.
Easy to use software, Low spreads and lower commission than any other broker.
They provide demo account and also free VPS.
Some scams mentioned are not genuine, especially those who don’t know how to use, trying to blame the game. Not to mention, some brokers are really scamming people, so you need to know what you are picking.
This link should be helpful for you to know the review of offshore brokers, it’s a little long but worth to have such thread. I’ve been using Coinexx for long and can recommend the same. But you need to dyor.
The problem occurs when there is no violation in terms of the broker, but the broker decided not on affection, it is a fraud. Conversely, if the investor violates the terms, that is also true. and I don’t deny the fraudulent brokers sprouting like mushrooms.
I have a little review here In search of the Best Broker to start Forex trade
Trade with brokers which have been operating for a long time in this industry and has many feedback from traders. Learn it thoroughly to see what are the frequent complaints - execution issues, payout, etc. Too many complaints on some important matter like execution is clearly a red flag.
I have been using turnkey forex, Reason being, tight spreads and good order execution speed helps a lot while scalping.
Hello Sirrobert,
This lesson from the School of Pipsology might help you in choosing a forex broker. Check it out:
Check out brokers with strict regulators. I am using CWG Markets, so far I have not encountered any problem. It is a UK based company which is regulated by FCA and SVG. They are strict when dealing with funds. If you are interested, you can open a demo account and try it out before proceed to use a live account.
Give it a try to turnkey forex Good broker, excellent trading conditions, using them around 8 months. Not disappointed once as they have low spreads and low commissions. Give it a try to them, you will be surely like them.
Before you consider looking into the names of the brokers, I would suggest you to make a clear list of your expectations from the broker. When I started starting, my priority was to go safe and to take steady steps for long-term trading in which I get my withdrawals on time. Focusing on these expectations, FxView and XTB are working fine for me. In the same way, decide appropriate factors that will be the basis of your research and would help you find a broker to count on.
I would suggest checking out Forexchief.com. The broker has simple and transparent trading terms and conditions. The execution is fast and I’ve never had any problem with withdrawals. To the best of my knowledge, they are among the very few brokers that offer safety of funds in case of technical faults in servers.
Make sure you do some research on brokers before you sign up. So many out there, you need to find the best one for you.
Reviews claiming that brokers are scam sometimes can reflect stupid mistakes made by newbies. This is a caveat emptor. Take all reviews with a grain of salt, because there are many sad and depressed newbies around which lost their money and want to blame somebody. The easiest way to do that is to claim that it was a fault of the broker. Understanding complaint may sometimes require experience so take this as a granted.
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