List of Established Forex Brokers
The majority of top forex brokers are determined by their experience. The more they age, the more they prove to be resilient and capable of providing competitive trading edges, as well as maintaining a number of loyal clients. Staying in the forex industry for more than 10 years is an achievement, worth to be considered as one of the most superior quality to have for a forex broker.
If you are a seasoned forex trader and only look for well-experienced brokers proven by their long-standing history, the following options may just be for you:
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Some of these international forex brokers are HF Markets and Deriv. As one of the most used international brokers by Nigerian traders, HF Markets is regulated by the Financial Conduct Authority (FCA) in the UK, the FSCA of South Africa, and the Cyprus Security Exchange Commission (CySEC).
As for Deriv, it is regulated by the Malta Financial Services Authority (MFSA), the Vanuatu Financial Services Commission (FSC), the British Virgin Islands Financial Services Commission (FSA), and the Malaysian Labuan Financial Services Authority.
Continue Reading at Is It Safe to Trade Forex in Nigeria?
Because it is almost impossible for promotional websites and paid reviewers to mention a negative review about a broker.
While a genuine reviewer can also leave a positive review and praise the broker for their services, they would state the reasons clearly instead of just saying how good the broker is, and maybe add some flaws that the broker has despite the other excellent services.
Keep in mind that getting negative results in the reviews does not necessarily mean that the broker is straight unsafe or bad. It shows the reality of how forex brokers offer their service; there will always be a trade-off that traders need to weigh on carefully.
In fact, showing just the positive side of a broker is not realistic and may seem dangerous since it is just what a scammer would definitely do to attract clients.
Continue Reading at How to Avoid Fake Broker Reviews
- Old scam
At their most common form, forex broker scams involved the manipulation of the spread. The point spread between the bid and the ask can be seen as a reflection of the commission of a transaction.
- Modern scam
Computers do most of these systems, hence the name "robot" system. If the system can't detect valid signals, it will generate random buy and sell entries, which often cause traders to lose.
Continue Reading at Beware the Trap of Money Game in Forex Brokers