Hi,
Note : Suggest only regulated broker. please do not suggest non-regulated broker.
A Book :- STP, Non dealing desk, Non market maker, ECN
See if this helps.
You can trade with my current broker, FP Markets. They are regulated by ASIC, Cysec and also have an offshore licence with St.Vincent.
I trade using their raw ecn account with tight spreads, and the commission cost compared to other ecn brokers are lower in FP Markets.
Personally I prefer offshore brokers than regulated ones all day long.
Regulation is only there to help the big boys, not us retail traders.
FB Market is A book or B book?
Non regulated brokers can scam.
Can you please suggest some of the good offshore brokers.
So can regulated brokersâŚ
JP Markets, Pepperstone have had problems
Good offshore ones I know are: EagleFX, Prosperity, CedarFX, Hugosway, Exness but there are others.
If you are looking for a lower spreads broker, choose an ecn broker because they provide the lowest spreads. I trade with FP markets an ECN brokers with tight spreads.
I trade with major pairs like EURUSD & GBPUSD with spreads starting from as low as 0.0 pips, and the commission cost is lower than other ecn brokers.
A-Book or B-Book order execution is not the issue. Itâs about fair pricing and order execution quality.
This statement is unhelpful. Please share your thoughts on why you think regulation is there to help the âbig boysâ rather than retail traders.
The âbig boysâ prefer to NOT be regulated and try to avoid it through regulatory arbitrage. So not sure sure how you came to your conclusion.
Hi Ocon31, Is your broker FP Markets suitable for trading all major pairs with low spreads starting at 0.0 pips or specific pairs like EURUSD? Is it regulated by any govt body like ASIC or FCA?
Look how the regulators are acting over gamestop stock when the little guy does the same thing as the big boys, who you think their trying to protect the little guy or the big boys?
Regulators didnât stop the housing crisis, even when alarms were ringing for years preceding. Who suffered the most? It wasnât the banks, they got bailed out.
Regulators didnât stop Bernie Madoff either, even when alarms were ringing for years preceding.
Regulation is about compliance, not protection. Anyone can argue its purpose, but at the end of the day, we can all see what it is really about. Maybe it started out as a righteous thing, but it has evolved into something else. This is why we see brokers being targeted, not for illegal activity, but for simply accepting US clients without first, paying for the privilege to do so and agreeing to terms that are both costly and inconvenient to maintain.
Most of us never asked to be âprotectedâ from ourselves; we just want the freedom to do as we wish with our own money. Risk comes with any investment, and it should be left to our own discretion whether or not we are willing to take on those risks. As such, anyone who chooses to do so should have to live with the consequences of possible loss or failure. Anyone that disagrees can continue to trade with US brokers, and cling to this idea that their money is in safer hands.
Try Hotforex or Tickmill, based on their execution speed, changes in spread and liquidity (change according to market conditions), they cooperate with True liquidity providers and just transmit prices to us
If regulation is all about compliance, then what about the requirement of wearing seat belts while driving? Or a restaurant meeting a certain food safety grade in order to operate?
Youâre painting a broad brush over the topic of regulation. What Iâm talking about are the regulatory measures put in place in the retail FX industry. Like what the CFTC/NFA requires in order for retail FX brokers to operate in the US.
If youâre aware of the early history of the retail forex industry (in the US and others) and the shadiness that went on, you can see how these measures benefit the trader.
Yes, this is true. But only as long as youâre aware of all of the risks and some arenât being hidden from you.
For example, you may be aware of the risk of trading FX, but what if your forex âbrokerâ is intentionally adding slippage or a delay in your order execution behind the scenes and youâre clueless this is all happening?
Thank you the detailed and intelligent reply.
My experience with regulated brokers is much worse than with offshore ones. And I know people ripped off by regulated ones more than by offshore ones.
Itâs hard to comment without knowing any specifics. But in general, if you have any issues with a regulated broker, you can contact them and file a complaint which theyâre required to answer. And if not, then you can report them to their regulator and file a complaint there.
With unregulated offshore brokers, you have no recourse at all.
Legit brokers want to minimize reputational damage so they will be more motivated to resolve customer issues.
The opposite statement could also be made as well.
Judging a broker should be done as a whole. While regulation is one factor, there are others to consider which are covered here.
Being regulated wonât eliminate shadiness but it will definitely reduce the probability.
So can regulated ones. Look into JP Markets.
Yes exactly. Shocking broker.
@Pippo I am sure that a lot of more traders would agree with you. This is why it is never a choice between regulated and offshore brokers for me. It is always about the parameters that I am looking for in my broker like reduced latency, high leverage, etc.
I am sure that you will be able to find a lot of brokers that offer spreads starting from 0.0 pips on major currency pairs. Just make sure that you also check what commission they charge because itâs quite obvious that you wouldnât want to pay large amounts as commissions.