133. Choosing a Forex Broker: Regulation and Financial Stability
www.informedtrades.com — What forex traders need to consider regarding the regulatory environment of the forex broker they trade with.
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I suppose some people have to learn this the hard way… spending money buying countless robots, depleting trading accounts, etc…
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Comment by fgjtyee — 24/07/2010 @ 22:14
2 millionn to start up a forex firm!!? ridiculous & now you know why firms go close 2 bankruptcy forcing them 2 charge outrageous commissions & scaming out there customers! lol 2 much financial regulation & not enough ethical & common sense regulation,. Oh yea i respect the NFA but lets be serious here they Charge 20,000 dollar fees to frims that need the money in the first place thus only making it worse the firms to recover,seems like just another business to me than regulation
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Comment by SadeTabitha — 24/07/2010 @ 23:53
Thanks for the vid. I was not aware that if a forex broker went under you were screwed. Coming from futures I assumed the account was protected up to a certain amount.
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Comment by annabarney6 — 25/07/2010 @ 00:24
One of fxcm customer service reps has admitted to there wrong doing and stated that he was leaving the company as a result of their deliberate illegal actions. Anyone who endorses FXCM should be considered risky.
Comment by AACStudios — 25/07/2010 @ 01:16
set stops were not reached yet positions were closed and limits were met without profits being taken. Fxcm misrepresented their dealing positions relative to their clients position. On many occasions fxcm deliberately crashed our platform.
Their CS center reports they are a separate company from the Micro division and cannot lend support although they directly receive all the emails and inquiries.
Comment by AACStudios — 25/07/2010 @ 01:26
Hi Jokerisherenow, Yes you should be able to open an account with a US Forex broker from pretty much any country in the world. Best Regards, Dave
Comment by InformedTrades — 25/07/2010 @ 01:53
Hey hope you’re well. Can you open a forex account with a USA broker if you live in Canada? Thanks.
Comment by jokerisherenow — 25/07/2010 @ 02:48
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Comment by smartforextrader — 25/07/2010 @ 03:23
Hi noddyin, Thanks for the comment. I used to work for FXCM so I am probably a little biased. Like any firm they have some faults but overall I feel that they are the best company in the industry. If you visit my channel by clicking the InformedTrades banner to the right of this video you will see a video labeled #132 which goes into some of the reasons why the larger firms like FXCM get so many bad comments. Best Regards, Dave
Comment by InformedTrades — 25/07/2010 @ 04:13
What do you recommend for a newbie in the uk? I was thinking FXCM but everyone seems to hate them.
Comment by noddyin — 25/07/2010 @ 04:54