Forex Brokers in Monetenegro
Compared to other jurisdictions, Montenegro is not quite well-known as the home base of many forex brokers. Despite the notion, AGEA is originated from the country and has resided in the area for a long time. So, it may be worthy of knowing other trading companies that operate in Montenegro, alongside one of the most established forex brokers that is AGEA.
Regulation-wise, there is not much about financial watchdog in Montenegro. However, forex trading in the country is 100% legal. Though not an offshore jurisdiction, an estimated 1.6 million tourists visit Montenegro every year, making tourism plays a major role in the country's economy.
Scroll for more details
| Score | Broker | Country | Regulation | Min Deposit | Max Leverage |
|---|
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.
Why is customer service considered a benchmark for a good broker?
Scam brokers never truly care about their clients because their aim is only to attract as many clients as possible, steal their fortune, and get away with their crimes.
Thus, you need to check the broker's reliability by testing their customer service. You can simply ask them a few questions before registering and see how they respond. If they take too long to answer or are unhelpful, you might want to move to another broker.
Continue Reading at How to Ensure Your Broker is Trustworthy
My broker is registered in Vanuatu, what should I do?
If you are trading with a multi-licenses forex broker, then you could take it easy. Your broker most likely only seeks VFSC licenses in order to smooth their international operation, while providing services in accordance with higher requirements set upon by better regulatory agencies.
There's a significantly different consideration if you are trading with a single-license forex broker (and the license in question comes from VFSC). It is possible to trade with them for some time with minimum capital, but it is not advisable to continue working with them in the long term. Do yourself a favor by moving your funds to better-regulated forex brokers.
Continue Reading at What Does VFSC Regulation Mean for Forex Brokers?
How to avoid affiliated liquidity provider in ECN brokers?
In order to avoid such a disadvantage, we have to know who the broker's liquidity providers are and their shareholders. Regrettably, it is impossible.
Few regulators require brokers to declare their liquidity providers' information publicly, and even fewer brokers are open about their shareholding information.
Continue Reading at Can ECN Brokers Cheat on You?
How do bucket shop brokers work?
Unlike fly-by-night brokers and pyramid schemes, bucket shops do have functioning trading activities, albeit for malicious intents.
Bucketing itself refers to practices by which brokers illegally generate profits from their clients' trades, such as frequent price misquotes or re-quotes,s in order executions, etc.
For example, a trader executes a buy position of EUR/USD at 0.8294. The broker confirms the transaction has been made while the truth is the order will be executed later when the price is at 0.8298.
The difference of 4 pips is kept by the broker as their own profit; a fact that will never be revealed to the trader.
Continue Reading at Top Blacklisted Forex Brokers You Should Avoid
Country
Broker Categories