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What are the benefits of trading with Seychelles forex brokers?
Trading with Seychelles Forex brokers can offer several benefits to traders. Here are some advantages:
- Seychelles Forex brokers often provide access to a wide range of financial instruments, including major and minor currency pairs, commodities, indices, and even cryptocurrencies. This variety allows traders to diversify their portfolios and explore different markets.
- Usually, they offered leverage that can reach 1:500, 1:1000, 1:2000, and even higher.
- Lower initial deposit amounts compared to brokers in more established financial centers. Moreover, the minimum deposit can be as low as $1.
- Offer tight spreads, which can reduce trading costs for traders.
- Lower taxes.
Continue Reading at Discovering Seychelles Regulation for Forex Brokers
What does it mean to be an ASIC-licensed forex broker?
Here's what it means to be an ASIC-licensed forex broker currently:
- All ASIC-licensed forex brokers are required to hold at least AUD1 million in operating capital.
- Like FCA, ASIC will monitor the company continuously to ensure segregation of client funds, periodical report and audit, efficient management including AML and KYC procedures, and proper risk disclosure for clients.
- ASIC Forex brokers are not allowed to have any conflict of interest with their customers. This is the reason why Australian Forex brokers usually offer direct market access through ECN or STP facilities.
- ASIC allows leverage for forex and CFD trading up to 30:1.
Continue Reading at UK FCA vs ASIC, Which Forex Regulator is More Reliable?
How to recognize a red flags broker?
The most common and frequently occurring characteristics are:
- Difficult deposit and withdrawal processes.
- Sudden and unexpected changes to key features.
- Poor customer service.
- Negative reviews.
Continue Reading at Broker Red Flags: Signs You Should Leave Your Broker
What are market maker brokers?
Market makers are the parties that provide liquidity and quote both the buy and sell rates. They can be individuals, brokers, banks, hedge funds, and other financial firms. Large banks in particular are the master market makers.
One simple example of the market-making practice is a foreign exchange transaction in a local bank. This is very similar to the business activity of market makers in forex trading. Let's see the illustration below.
Dolan is in need of USD currency for a trip to the USA. He carries the local currency EUR to Bank Z to be exchanged with USD. In this case, Dolan wants to buy USD and Bank Z makes the market by selling USD and buying EUR.
One month later, Dolan returns home and wants to exchange his remaining USD with EUR. He visits Bank Z again, and this time Bank Z makes the market by buying USD and selling EUR.
Here, Bank Z generates profits from the differences between the sell rate and buy rate.
Continue Reading at Are Market Maker Brokers Always Bad?