I haven’t been trading for many years. I’d like to get back into it but I share the same sentiments as many people do that Forex always seems to have the worst brokers around. I find it so difficult to figure out who to use and trade with. I am currently learning to trade Options and Futures but I started out with Forex and then left due to the corrupt nature of many forex brokers. Options and Futures brokers are a lot more regulated than the Fx brokers.
Anyone care to disagree? On the subject of brokers; are there any suggestions for Aussie brokers as I am an Australian. I know there are a quite a few in Aus, but any honest & unbiased suggestions would be appreciated. Thanks
Easier to assess regulators of forex brokers rather than all the forex brokers in the world.
I would rate the UK, US and EU regulators as strictest, then Australian, Scandinavian: maybe New Zealand, maybe Israel. The rest of the world aren’t trying.
Some national or federal governments also make private retail forex trading tough through tight regulations which you have to think are aimed at keeping specialist brokers etc. from starting up and taking away the business of the big banks.
Thanks for the response. Have you tried Cmc Markets? If so, are they any different to Pepperstone? I took a break from trading after been away for a few years. Do you trade fulltime or is it just a side gig for you? I find the forex markets to be full of scammers and I sense most traders either break even or lose money in CFD and forex trading. I come across so many forums and youtube videos where people are selling courses etc.
Just a side gig for me, have been fluctuating around break even most of the time. Have taken a course recently to learn some new trading skills and so far on demo account the learned strategies seem to be successful. Hope will prove to be long term. My dream is to earn enough from trading to retire. So far personally I have only ever opened a small account with Pepperstone so have no first hand experience with any other broker.