Forex Brokers Giving Interest on Funds
There are many ways a forex broker gives back to clients. Bonuses, promotions, referring rewards, and other related credits are common among them. However, what if you can get interest just by maintaining balance in your trading account? As keeping some balance in the account is already a basic trading activity, you don't have to put in extra effort or cost to get the interest.
If you ever wonder how such advantages exist and which forex brokers opt to "pay" their clients by giving interest on funds, here are some names for your recommendation.
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Here are some tips to identify forex broker scams:
- Check their contact support.
- Beware of unrealistic promises.
- Review them online.
- Check their regulation.
- Always check your monthly statement.
- Try trading with small capital.
- Make withdrawal.
Continue Reading at How to Avoid Forex Broker Scams
How do ECN brokers make a profit?
True ECN brokers do not profit from spreads but charge commission fees on each traded lot. The spreads on ECN accounts fluctuate based on market conditions and align with prices provided by liquidity providers. In the case of ECN brokers, the commission fee is more critical than the spread.
Continue Reading at ECN vs Fixed Spread, Which Type is Better?
What are the type of broker's regulatory status?
When it comes to a broker's regulatory status, there are a few terms that you should know such as registered, regulated, licensed, and authorized.
- Registered: If a broker is "registered", that means that the broker's registered as a company in a certain country and has one or more offices in that country.
- Regulated: If a broker's "regulated", that means it has obtained a license to operate as a broker in a country and is listed under the country's regulator.
- Licensed: It means that the broker has obtained a license to operate as a broker in the country and is protected by its laws.
- Authorized: If a broker's "authorized", that means it has the authorization to operate at a certain capacity in a country, but not necessarily as a forex broker.
Continue Reading at Forex Regulation Insights: Defining Your Broker's Status
What does it take for forex brokers to operate in UAE?
All brokers that operate in the UAE must be regulated and obtain a license either from the SCA, Central Bank, or other regulatory authorities. They should also comply with Sharia law, which means that certain operational requirements must be fulfilled.
In addition, any non-resident international entity or forex broker that wishes to offer its service within the Emirates should have a local or domestic representative in the country, either in the mainland or in any financial zone. So before they can operate, they must be listed under the SCA or DFSA and gain approval from either of them.
Continue Reading at Best Forex Brokers in United Arab Emirates (UAE)
