Which Forex broker is safe?

Hi Emi, thanks for your response. I agree with you. :slight_smile:

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Thank you
but if you could answer what I asked, I would be much more satisfied.
In short, do you make transactions on a demo or real account?
If you do transactions on a real account, you had problems with the transactions in the sense that they were closed without reaching sl or specified conditions that could harm you because you did not read them or ignored them until the moment you came across them or something else that violates the conditions agreed in advance as a trader?
(for example, when I traded on Oanda, I had the displeasure at the first hedging that I tried to do, only to find out that I had lost because they did not allow this, although at that time, for example, I found the solution to open another sub-account and to do the reverse operation on it, but until I lost I didn’t look for a solution)
did you have problems with the withdrawal of capital and earnings?
And if you can tell me the name of the broker or brokers, I would be grateful
As you can see in all the questions I asked you now, it is not about trading strategies or risk management in a transaction, it is only information about the broker name and the experience with him

Thank YOU for being open-minded and supporting logical points of view.

In short, real. Agree. Yes. Nope, I won’t say the names because these days you can’t trust any broker, even the regulated ones. I don’t wanna give them a chance to scam any of you. Personally, I don’t keep my money in broker accounts because they can just ban your account, ignore your messages and complaints. And they’ve got ways to make it seem all legit by greasing the palms of regulation agencies. It’s just not worth the risk, you know?

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Exactly my point, How big balance in trading account is safe ? 10k USD, 15K or 25k ?

Personally, I don’t keep my money in broker accounts

um, how do you trade forex then? are you using prop firm(s)?

thank you for the answer given
Let me understand that you don’t keep money in broker accounts, but you trade on a real account
assuming that you keep a small amount in your account and withdraw your profit, you could say even if you didn’t say the broker’s name what experiences you had, but I guess that everything is ok if you still do transactions with him.
Although I wanted to know if you had a big profit on a transaction, how they reacted. In my opinion, if they were honest, there shouldn’t have been any problem either if it was MM or if it was ECN
MM protected by hedging so they would have no loss and ECN would take the commission per transaction so only if they are not honest and steal your profit
for example, for me Oanda from the point of view of the spread on the news, at 22:00 London, closing on Friday and opening on Monday was a very bad experience, I had a spread at the close of Friday, the opening on Monday on aud, nzd of 30, 50 pip
but I had 30 k in the account, I withdrew 29 k from them and there were no problems, in fact part of the invested capital, but they returned it to me
Your conclusion regarding brokers is very discouraging
Anyway, if you mentioned the broker’s name and shared your experience with him, I don’t think anyone would be able to blame you if it became a negative experience tomorrow because you are not the broker
I also think that it is easier to make 10% profit per month than 100%, so the size of the capital is important as well as leverage
I bought my Toyota and Ford after reading reviews and my experience with these companies was devastating, but I don’t blame anyone and shared my experience with the models I had so that others know what I went through
Honestly, I would prefer to do a brokerage firm because I would be satisfied with the honest profit of the spread in the case of a MM or a commission per transaction in the case of an ECN considering how many traders are said to be, but the security loopholes which I see, seem quite dangerous to me.

there are few sites tracking Brokers, and their customers reviews just google them
but rule of thumb is avoid if they are not regulated in your country.

I have been doing what you tell me for more than 2 months.
If you have the kindness and can answer what I asked, I would be grateful
In short, do you make transactions on a real account?
If you do transactions on a real account, you had problems with the transactions in the sense that they were closed without reaching sl or specified conditions that could harm you because you did not read them or ignored them until the moment you came across them or something else that violates the conditions agreed in advance as a trader?
Did you have problems with the withdrawal of capital and earnings ?
Thank you
this is not for you Emi.s; it is the answer for AminGh78

First off, I’m only a part-time trader. Sometimes I won’t do any trading for like a whole week. And It’s not cool to just let my hard earned cash sit in the broker’s account. So that’s why I prefer to keep my profits on lock and only leave my starting funds in there. And by ‘keep’, I mean like holding onto a big wad of cash in there for ages. I like to take out my gains every week like clockwork. That way, I get to enjoy my winnings and still have some funds left over to keep on trading

Ugh! Again these people naming a broker in every post they make :woman_facepalming: @steve369 You cane be great friends with each other! but if you really seeking reviews on brokers you can find them on google and listing/reviewing websites. The one I used before was Earnforex

Yes, we’ve all faced such problems, but what’s the point of repeatedly mentioning them? @silviu

Choosing a safe Forex broker is crucial to protect your investment. While there are risks associated with some brokers, it’s important to research and select a reputable one. Look for regulated brokers with a solid track record and positive reviews. Consider factors like withdrawal processes, server reliability, and slippage. While risks exist, there are trustworthy brokers in the market. Do your due diligence and make an informed decision to maximize your chances of success.

Stay safe and trade wisely!

hmm thats bit hard to know yes sometimes broker lock transactions such as close to super events like NFP or brexit etc you see price gaps
“doesnt count on cryptos since they are 7/365 market”

you can check data discrepancy between their demo and real account and to make even more sure the data from mt4 data history export the data from history center in mt4 that period you want to check if it doesnt match or u r wrongly lost the trade those are all warning sign u r in contract with scammer broker.

You can’t trust negative reviews entirely. Lots of people lose money and blame it on the broker because they can’t accept that they did something stupid or don’t understand what stupid thing they did.

Some brokers do accept PayPal, my broker does. My old one was a nightmare withdrawing when my card expired, I was sure it was all a scam, but eventually I jumped through all the hoops and withdrew it all at 500% profit. They also accept PayPal now.

There’s a post on here complaining that IC Markets scammed somebody by taking $120k profits from them. It’s only when you realise that this person turned $6k into $120k over 2 hours due to a broken price feed that you realise he was actually the one doing something wrong.

There’s complaints about Oanda not allowing hedging and other things, but this is US law, so I’m not sure what you want them to do


Which broker takes PayPal ? Let me know please

Pepperstone definitely does. I’m fairly sure IC Markets does too. This is from the UK though, I think you’re in India so it’s much more difficult with the laws over there

fp Markets is well rated on trustpilot, but for the negative feedback, I found the answer given by Fp Markets which says:
“While reviewing your case, we discovered that your account was closed due to a specific trading behavior that was identified through our internal monitoring system. Hence, the investigation has been completed and you may proceed freely to your withdrawal activities.”
So in other words they are players and referees at the same time?
“specific trading behavior”
It’s just trading, it can’t be ,the rest of their motivations, it’s just a trick, you can’t do anything more than trade, you simply buy or sell according to a strategy or not, with the help of a script or expert or indicators if you’re allowed, but you can’t do anything else
if they are afraid of something else, such as the Internet’s security needs, you have blockchain at your fingertips.
when I see a broker that uses blockchain, then I will be sure, at least in terms of transactions, that they will be kept without changes, with accurate data registration and non-modification

Because nobody has ever edited the blockchain cough Etherium cough

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I’m not complaining about Oanda, I’m just sharing my experiences with Oanda. At the time, if I remember correctly, hedging was allowed in the USA, but that’s not what’s important. Moreover, at that time, I opened two sub-accounts and was doing all the hedging, really flat 2 spread and I continued to do so
The NFA banned hedging with the motivation that a trader should not pay twice the spread, which is untrue, I use hedging and have the alternative Close BY, I choose the exact order by which I made the hedging and pay only one spread. I would have preferred that the NFA not allow a spread of 30-50 pips, only in predetermined conditions that you can anticipate and thus be able to act accordingly.
Moreover, hedging can be obtained with 2 brokers without any problems, practically the measure taken by them forces you to pay 2 spreads and there is no way to avoid
Everywhere I ask to share the experiences with a broker, not the complaints against him