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  1. #1
    Diamond Member Array firmanta's Avatar
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    Are regulated broker is absolutely a trusted broker?

    Hi all,

    I see that now so many broker that have been show up now. Some are regulated and some are not, so are a regulated broker is absolutely a trusted broker or not? What we should choose from a both of that

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    If the broker is authorised and regulated by the UK FSA, then even if the broker goes bust, the UK govt guarantees upto 50kgbp of investor funds.

    Are there any other regulators with such govt backing?

  • #3
    Diamond Member Array firmanta's Avatar
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    Quote Originally Posted by debook View Post
    I think a regulated broker still have a chance to cheat their client, so the important thing when you choose a broker is this broker have been well known among the traders as a trusted broker. I know my broker Weltrade is a trusted broker is from many forum for forex too, and until now I never have a problem on my trading activity.
    I quite agree with you, it because there's no guarantee that a regulated broker will always keep clean and be a trusted broker. So beside just see the regulation of its broker, it will be more better if we looking a broker that have been well known among the traders.

    Quote Originally Posted by huuu View Post
    If the broker is authorised and regulated by the UK FSA, then even if the broker goes bust, the UK govt guarantees upto 50kgbp of investor funds.

    Are there any other regulators with such govt backing?
    Really? I never heard anything like that.

  • #4
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    Use brokers with ASIC regulation. They are quite strict.

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    Quote Originally Posted by firmanta View Post
    I quite agree with you, it because there's no guarantee that a regulated broker will always keep clean and be a trusted broker. So beside just see the regulation of its broker, it will be more better if we looking a broker that have been well known among the traders.



    Really? I never heard anything like that.
    Yes, and now it appears that the limit has been increased to 85k gbp. Look here:

    http://www.fsa.gov.uk/pages/consumerinformation/compensation/latest/limit_increase.shtml

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    Diamond Member Array TahaFX's Avatar
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    I think a regulated broker is a nice choice for us better than if we choose a broker that not regulated. Because like you said that there's no guarantee that a regulated broker will always keep clean and be a trusted broker. It because I use a regulated broker too now, and I never have a problem trading with this broker. You can try my broker you Weltrade yourself for prove it a scam broker or not.

  • #7
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    Always go with a regulated broker. I was with world spreads when they went under and if it wasn't for the fact that they were regulated by the FSA I would have lost a lot of money. They were offering zero spreads which I think pushed them under. I think the lesson here is; if it looks to good to be true - it probably is!

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    Quote Originally Posted by firmanta View Post
    Hi all,

    I see that now so many broker that have been show up now. Some are regulated and some are not, so are a regulated broker is absolutely a trusted broker or not? What we should choose from a both of that
    Yeah most of the broker. But you must be careful when choosing one. Coz some can turn out to be a scammer.

  • #9
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    If your worried about your broker you could always keep your account size really small and only add money to it when you need to. I try to withdraw any profits soon after I've made them.

    You could also take your money out on a Friday as both Worldspreads and MF Global were found to be bankrupt over the weekend.

  • #10
    Diamond Member Array Gaban's Avatar
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    Quote Originally Posted by Badger1976 View Post
    If your worried about your broker you could always keep your account size really small and only add money to it when you need to. I try to withdraw any profits soon after I've made them.

    You could also take your money out on a Friday as both Worldspreads and MF Global were found to be bankrupt over the weekend.
    I agree with you, for the first using broker, better making deposit with small size. After we have agood feeling with the broker, thats the time to do the real ones
    Regulated broker not not a guarantee of security as well

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