Reasons to choose regulated forex brokers
With a huge daily trading volume of $6 trillion dollars, the forex market is the largest and most liquid market across the globe. While it is indeed exciting to trade in the forex market, it should also be remembered that the forex market is not devoid of risks.
Here, choosing the right forex that is licensed by different regulatory bodies can make a huge difference in your trading experience by deciding if your trading funds are safe or at risk. When a broker is regulated, it implies that their policies are in accordance with the standards set by local regulatory bodies which means they won’t indulge in any financial malpractices and deliver you the best trading conditions.
Here are more some more reasons why by regulated brokers should be your only choice:
Forex traders who choose regulated brokers are less likely to fall into the trap of any unscrupulous broker. As regulated brokers are restricted by the guidelines laid by regulatory authorities and are subject to regular audits to them, they provide complete transparency to their customers without manipulating the market in their favour.
Safety of funds
Regulated brokers have segregated accounts to keep their client’s funds separate from their own business’ funds. As a part of regulatory requirements, brokers also have to keep a track record of where the funds are. This means, if due to any circumstance, the brokerage firm goes bankrupt, they can’t use clients’ funds to compensate their loss and you as their client can expect to get at least some of your money back.
Protection from frauds
Regulated brokers never follow illegal financial practices or frauds, for instance, tampering the platform, manipulating prices or taking opposite positions to their clients as it can result in their termination by regulatory bodies. Therefore, it’s best to trade with a regulated broker if you don’t want to risk your hard earned money.
Advanced features and good customer support
Regulated brokers usually stay current with latest technological advancements in the industry which makes them highly competitive and help to deliver the best services. As regulated brokers are interested in preserving their good reputation, they also have qualitative customer support which deals in the best possible way with the customers.
In the end, if you want to tap into the world of opportunities and make money safely, you should only sign up with a regulated broker. Few good regulated brokers are:
All these brokers have excellent trading conditions, but it’s advisable to first try them out on a demo.
Moreover, it should be remembered that regulatory guidelines can vary from one jurisdiction to another. Make sure that you go through the terms and conditions carefully before making any decision.
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