Forex Brokers in British Virgin Islands
The British Virgin Islands is one of the best-known offshore islands with a stable political environment and strong legal framework based on British law, which is aimed to protect both forex brokers and forex traders.
Forex brokers in the British Virgin Islands are required to hold a license from the British Virgin Islands Financial Services Commission (BVIFSC) as the national financial regulator. The process of obtaining a broker's license here is a bit more complicated than in the other offshore jurisdictions. However, this also means that the brokers who hold it are serious players in the forex broker business. Unregulated forex brokers are not allowed to operate out of the British Virgin Islands.
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If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
What broke criteria should you chose for trading with small capital?
To be successful, your broker should be:
- Allows a minimum deposit of USD50.
- Provides trading with micro lots (0.01).
- Charges no commission.
- Offers low spreads (less than 2 pips for major pairs).
Continue Reading at A Story of Making Forex Profit with Small Capital
What are the best brokers to use for South African swing traders?
We have compiled 10 best-performing forex brokers that are suitable for swing traders in South Africa.
- IC Markets: IC Markets is particularly suitable for traders who value easy trading execution and low trading costs.
- Exness: The broker is regulated by several trusted authorities such as the FSCA, FCA, and CySEC.
- Khwezi Trade: Khwezi Trade supports Rand-based forex and CFD trading with a wide range of trading instruments.
- FXTM: The broker supports MetaTrader 4 and 5 as trading platforms, both of which can be accessed from various devices such as PC, laptops, tablets, and/or mobile phones.
- FBS: Traders can open a trading account with only $1 and there is no inactivity fee.
- AvaTrade: When it comes to trading fees, AvaTrade offers a fixed spread of 0.9 pips per trade.
- FxPro: The broker also provides customer service that responds quickly and is able to provide relevant answers in multiple languages.
- FP Markets: One of the greatest advantages of this broker is that it uses true ECN bridges and advanced technology.
- Pepperstone: Pepperstone is often considered to be the best broker in Australia that's suitable for almost any kind of trader including swing traders.
- HF Markets: Conveniently, HF Markets offers a ZAR trading account for South African traders as well as USD and EUR accounts.
Continue Reading at 10 Brokers for Swing Trading in South Africa
What are the various types of chart manipulation that brokers engage in?
- Slippage: You should be cautious if the slippage happens very frequently and ends up negative most of (if not all) the time.
- Spoofing: It consists of developing a fake interest in a currency pair by placing phony orders on them without the actual purpose of trading that currency in the future.
- False spikes: Unethical brokers make use of this feature by fabricating price surges in order to trick unsuspecting traders into placing orders.
- Stop hunting: They bring the prices to a point close to the stop loss order that forces you to exit the trade, after which they push the prices to move in the opposite direction.
- Front running: When a trader indicates that they intend to make an order, the broker immediately places their own order to profit from any changes in pricing.
Continue Reading at Can Brokers Manipulate Charts?
What are dealing desk brokers?
Dealing desk brokers are financial intermediaries that facilitate trades by taking the opposite side of their clients' positions. They often profit from the spread between the buying and selling prices they offer to traders.
Continue Reading at Are Market Maker Brokers Always Bad?
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