Forex Brokers That Accept Local Bank Transfer Payment Method for Deposit and Withdrawal

To avoid scam brokers who often intervene in clients' orders. NDD brokers usually channel their clients' orders directly to the market or bigger NDD brokers. In this case, clients do not trade against the broker but directly against the market.

Furthermore, the spread in NDD brokers normally follows the real market's fluctuation but is generally lower than in other brokers. Some broker variants categorized under the NDD brokers are STP (Straight Through Processing), ECN (Electronic Communication Network), and DMA (Direct Access Market).

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Local brokerage executives and regular traders in Nigeria believe that forex traders will be safe trading within their own risk limits. Many traders in these countries feel safe when trading with foreign brokers.

They feel safe because the international brokers they use is a European broker and is regulated by European regulators. Despite this, trading experts in Nigeria believe that the notion would only apply to experienced traders; beginners would still be at high risk as they tend to be gullible.

Continue Reading at Is It Safe to Trade Forex in Nigeria?

The majority of forex brokers are hybrids that provide market maker, STP, and ECN conditions all at once. Even if brokers implement the STP/ECN model, their liquidity providers are still market makers.

Thus, it is not wrong to say that all forex brokers are basically "market makers". Therefore, based on this label, we cannot determine a broker's quality.

Continue Reading at Are Market Maker Brokers Always Bad?

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