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What should we do if the broker's regulation is still "in process"?
Some brokers might claim that they are in the process of applying for a license or a license extension. But in reality, not all brokers are true to their words. Some of them don't actually apply for any license and only use those words to steal the clients' funds. Even if the license is indeed "in the process", the broker's still unregulated during that time.
Continue Reading at Forex Regulation Insights: Defining Your Broker's Status
How to find a reliable broker?
Learn from your previous mistake and find a better broker with credible service and reliable support. Taking other traders' recommendations into account is also a good way to start your search for a better broker.
That way, you can be ive of the number of Forex brokers available before opening an account.
There are several ways of finding a better broker. But, the most common method is probably based on the broker's regulations, including ASIC, FSA, CySec, FCA, and many more.
Continue Reading at How to Deal with Problematic Brokers in 6 Easy Steps
How to choose the right broker for scalping?
Here are some factors that determine a broker's quality for scalping.
- Low spread: The spread will bring a very significant impact as scalpers could trade multiple positions during a short period of time.
- Complete trading tools: Scalpers are always more focused on the action and reaction pattern of the price movement from time to time. Therefore, they need a complete and qualified technical analysis feature.
- Allow scalping: Scalping can be restricted or not allowed in some brokers, so it's important to make sure that your broker has no certain conditions on the strategy.
Continue Reading at The Secrets of Successful Scalping Strategy
Why do some brokers offer extremely high leverage?
Forex brokers, especially market makers are typically aware that most newbies are inexperienced, and there's a high chance that they're going to misuse the leverage. Thus, they usually offer high leverage to attract new clients.
In other words, many market makers are using high leverage as a part of their marketing offers. They'd invite you to take a lot of risks, knowing that it's not a good move to do especially if you're starting.
Continue Reading at 5 Signs Your Broker Trades Against You
