Easy-Forex Review
Easy-Forex is one of the leaders in Forex trading technology operating in over 150 countries.
Quick Facts: 
Founded in: 2001
Headquarters: Cyprus (also have regional headquarters in Australia and US).
Maximum leverage: 1:400
Minimum deposit: $25
Web: www.easy-forex.com
Regulation:
FSA – Firm reference number 471938
CySEC – License Number 079/07
Easy Forex Pty Ltd has an Australian Financial Services License (AFSL) issued by ASIC.
** Forex Regulators – Why Its Important For any Forex Trader
Platforms:
Web Trading – one of the most sophisticated online-based platforms on the market.
TradeDesk – the trading application build from series of modules that you select and connect together to create your own visual layout. You can create and save multiple Layouts that suit different market scenarios or trading styles.
MT 4 – the famous Mt4 including the advantages like: fixed spreads, All Expert Advisors Allowed, Microlots Starting from 0.01 lots, Liquidity provided by Tier one banks, No Dealer Intervention and much more.
iPhone Application – Innovative iPhone application to trade from your iPhone.
MT4 Windows mobile
Here you can read about detailed platform features
Payment: Credit Card, Wire Transfer, MoneyBooker, PayPal
Support: very good support including online chat, e-mail and phone. I highly recommended to open demo account and ask support few questions to see the response.
Easy-Forex Main Advantages:
- Good trading platforms (Web Base, Mobile Base, MT4 and the state of the art of the trading applications – the TradeDesk ).
- Very good support
- Personal account manager
- Unique trading tools – visual trading tools simplifying the trading and provides real advantage while trading.
- Simple and quick registration procedure.
Easy-Forex Main Disadvantages:
Not accepting trading from US (at least at this point).
Easy-Forex review summary:
With strong regulation, innovative tools and good support, Easy-Forex is one of the good reliable brokers available these days.
I would recommend you to try their trading simulator and impressed by yourself (while trading on virtual money).
Proper Disclosure – I’m affiliate of Easy-Forex. On the review above I tried to provide details and facts. The considerations to choose affiliate programs are similar to choosing trading platform (reliable partner, ease of use, good reputation, good tools, good support…)
Forex Bonus Promotion | Best Forex Bonus
On the following post you are going to discover why Forex brokers giving such generous bonuses, where you can get free bonus (without deposit!!!) and more.
This is not a secret that Forex brokers struggling to pull customers to use their platform. For Forex trader this is great situation because the brokers suggesting great cash bonuses for traders that creating new accounts.
There are two kinds of Forex bonus promotions:
1 – First deposit bonus – you open a new account with a broker, make the first deposit and get nice bonus (it could be up to 200% from your first deposit!!!)
2 – No deposit bonus – You don’t need to make any deposit in order to get this bonus. You open a real trading account with a broker who offers ‘no deposit bonus’ and receive free cash to your trading account to start trading with. Usually the no deposit bonuses are small but it’s 100% gift that you get.
==> Discover How To Get an Exclusive Welcome Bonus. <==
Below you can find info on the special bonuses suggesting by the leading Forex brokers.
It’s highly important to work with brokers that are under regulation. All brokers below are under regulation which provides them high reliability.
1 - AVAFX – seating in Dublin. Ava Capital Markets Ltd is incorporated in Ireland as a licensed investment firm compliant with MiFiD the EU investment regulations and is regulated – by the Irish Financial Regulator. To check AVAFX current special bonus click here
2 – eToro – eToro’s brokering services are provided by RetailFX Ltd (which trade name is eToro) RetailFX is operating under the Markets in Financial Instruments Directive (MiFID) and authorized to operate in 40 European countries.
In Asia Pacific, eToro’s brokering services are provided by IC Markets which is regulated under ASIC (AFSL 335692) the financial services regulating body in Australia.
In the USA, eToroUSA brokering services are supplied by FX Solutions. FX Solutions is regulated under the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).
To check eToro current special bonus click here
3 - Plus500 – the broker is seating in London and regulated by the Financial Services Authority Register(FSA). Plus500 suggesting unique Forex bonus promotion: Free $25 no deposit requires!
In addition to the free bonus Plus500 suggesting regular first deposit bonus (like the other brokers) the amount of bonus depends on your deposit sum.
Click here to get your bonus code (at the table on the bottom of the page).
4 - Youtradefx – Headquaters in St. Port Louis, Mauritius. The company is in process to get regulation from the FSA (currently has FSC of Mauritius regulation). YoutradeFX suggesting an Exclusive Welcome Bonus.
Summary – Forex bonus promotions are win win situation because it helps Forex brokers to attract new traders and you get high sum of money and actually start trading without spending much money. You can also use this bonus to get impress from the broker platform, service and support.
Bollinger Bands Strategy Forex
One of the commonly sought Indicators for technical trading and also one of the easiest to use is the Indicator “Bollinger bands”. The indicator is applicable to not only stocks and commodities but can also be applied to forex markets with an equal ease. A range-trader will know at the first look of this indicator that it calls for range-trading within the bands in the direction of the suggested trend and that can mean easy profits. Let’s explore the Bollinger bands strategy Forex in greater details in this article.
The application of this indicator produces two bands, one above and second below to the moving average line. There is also a centre line which is the average of the two bands and runs along with the market price line. It is believed that the price reading near to upper and the lower bands reflect overbought and oversold positions; hence the Bollinger bands strategy Forex calls for taking a position in the direction of the trend at the sight of an overpriced market i.e. the pair trading at near to the bands. The trader always believes that the price will fall back to the centre line which as we learnt is only the average of the upper and lower bands.
==> Discover How to Copy What Best Traders Do! <==
Of course, it’s advisable to move with the trend for effective trading which calls for identifying the trend for Bollinger bands strategy Forex and that is very easy to devise. The active users of Bollinger bands look for two simultaneous breakouts of the bands in any direction and that is believed to be the sign of a starting trend. That means if the Price breaks above the upper band, it will suggest a strong uptrend and of course visa versa. The indicator changes the color of the price bars as soon as a trend is identified. All that you need to do after this is that you decide on one of the three Bollinger bands strategy Forex i.e. trend continuation, range trading or breakouts pullbacks and then wait for your trading opportunity to come.
Bollinger bands strategy Forex also calls for setting your stop-losses outside the bands should you prefer range-trading and also calls for a rather shorter profit target which the best is taken at the centre line, i.e. the average line. Risky trader can also look for setting a TP order at the opposite band but then that’s individual preference and personal choice. Personally talking, trading in any form calls for an exit at the first possible opportunity and the same should be the case even while using this form of an indicator.
Coming to the convenience and comfort of this indicator, each of the Bollinger bands strategy Forex is as effective on the smaller time-frame as it is on the higher ones. That means should you prefer a rather investment style of trading for longer durations and larger profits, you can simple switch over to a higher time-frame like one-hour charts and then apply Bollinger bands indicator to find the pairs that have the maximum width between the two bands. Higher is the width, larger is the trade potential, and of course you can just trade with the same size stop-loss i.e. just ten simple pips. Day-traders can look for using this easy indicator on a simple one or two-minute charts, that itself should suffice to give them a good number of trades with a decent trade-size, all ending the same day. Bollinger bands strategy Forex is at its best while range-trading and if you could focus on just that, you will not need to look to any other form of an indicator, a book, a teacher or a signal-seller.
Read below for pictorial explanation:
a) One minute chart with simple moving price line before application of Bollinger bands
a) Same chart with Bollinger Bands
- Upper Red line- Upper Bollinger Band
- Lower red line- Lower Bollinger Band
- width between upper and lower bands- Volatility
- Centre yellow line: The moving average line
Online Forex Trading Risks
A beginner trader stands more chances of losing his money to online Forex trading risks, more than the risk of losing his money to inadequate trading. While some of these trades directly relate to incompetent trading platforms and poor internet connectivity which can be controlled to some degree by the trader himself, yet most of these risks are simply beyond human control. At the top of the list of these risks is the beginners’ unawareness of the regulatory environment.
While regulatory authorities make it mandatory for every broker to first register themselves with it before commencing their operations, yet 90% brokers go without this registration and open an office in some under-developed country Like Nigeria or Congo or Somalia where there’s no one to question them, Impeach them. They obviously have their means of luring some traders, who finally learn it the hard way that they don’t have to blindly follow a broker website. Of course, they learn it after losing all their money to these broker’s unethical practices like stop-loss hunting and trades manipulations. Since the brokers are remotely located with no real existence of any physical office as such, so you don’t know where to go and break whose bones and thus the main online Forex trading risks, trading with a fake broker.
Adding to that, brokers also go bankrupt sometimes when a big fish comes from no-where with some extraordinary huge wealth and wipes off the entire broker balance with one single trade. Of course, if the broker is regulated and ethically goes bankrupt, then they aren’t liable to anyone. Why just the brokers, even if the dealing bank was to go bankrupt, then all of the customers of all of the associated brokers see the dooms day. Happened in the classic example of Bank of England when George Soros broke the vault with one single trade and took over a Billion pounds. Bank went bankrupt and poof, all money gone.
However, that’s like talking on a relatively larger scale but if I were to comment on some simple online Forex trading risks for small retail traders, then the foremost is losing your internet connectivity. It does happen at times that after opening your trade, you lose your internet and are not able to put your stop-loss. The risk is also posed from broker’s side when the cheater brokers disallow you the access to your platform after you start making profitable trades. You can very well imagine what happens to your account when your privilege of connecting to your platform is stolen away. It’s as good as stealing your money; leave aside the broker’s staff placing an unauthorized negative trade in your account or disabling a negative trade that you just can’t close.
Even more Important and the real matter of worry on the front of online Forex trading risks is the fact that anyone with good IT knowledge can steal your account password. With the rise of the Internet crimes, the world has witnessed passwords hacked and accounts broken. Since online forex account operations depend purely on Login ID and password, it’s very easy for anyone to either steal it from the broker company’s database or directly from your computer by sending you some computer tracking and files sharing malicious software. You can imagine what the fellow can do to your money if he knows your broker account password, which includes withdrawals.
However, the best and the funniest online Forex trading risks come from your own people, your family. Imagine you leaving your computer unattended when you receive a sudden phone call. By the time return, you find that your own curious son is busy EXPERIMENTING with this new software he’s found, your forex trading platform. It surely is going to make you mad to find some tens of positions, all new and all negative but what can be done? It happens to a lot of people who put their account to auto-login and are in the habit of sharing their computers and Laptops with their friends and family. Please remember that trading calls for utmost care of your account and you bear the sole responsibility of any activity in it, so it’s better that you identify all the risks associated with working online and then do your cautious best to curb those that you can. Get an alternate Internet connection, change your passwords every month and keep a printout of your trading activity every time you place a trade. If you could be vigilant here on these online Forex trading risks, then it definitely is half the battle won. Fight the rest and hope the best.
What Is an Introducing Broker
In this article, we will examine what an introducing broker (IB) means, what it takes to become an IB and then most importantly, the advantages of becoming an IB. For a simple explanation, an introducing broker is a person or a business entity that works with the main forex broker and does the Job of bringing in new clients for the company. Make no mistake thinking that it’s a low profile job with a limited potential. To your surprise, 70% of the broker websites that you see online are only the introducing broker and each of the dedicated Introducing broker takes home over $50K a month minimum. Isn’t that worth exploring, let’s see.
All main brokers allow a provision for people to join with them under different kinds of partnership arrangements with the main one reading as introducing broker, an IB. Its free to sign up with any broker as an IB which usually starts with a simple application and undertaking to comply with their business ethics and discipline. After the approval of this application, the broker provides you its marketing and promotional material which you can also modify to suit your geographical area’s customer behavior. You are free to operate from home or launch a website or run a formal office instead where your main Job is to procure clients, help them with account opening procedures and then if possible, facilitate them with some value added services like free education, webinars and free forecasts. All this helps you to retain your clients on a long run, the core principle of any business.
==>Click To Open Your Introducing Broker Account<=
You are compensated for your efforts when clients open their live accounts and begin their trading. As an introducing broker, you earn a percentage of the spread/commission charged to the client on each of the trades he makes, as long as he continues to trade. When you multiple this numbers of monthly trades with the number of clients you already have and the projected new clients sign ups, you will see that this business is nothing less than a goldmine that only gets bigger when you also develop your own affiliate chains to bring more of the new clients for you.
To add to this, there are numerous incentives announced by the brokers at regular intervals to multiply your profits manifold. There are also the contests for the best introducing broker wherein the highest business generating partner can earn not just the hefty prize amounts but also luxury cars and luxury cruise trips. Does that ring a bell for you? If not, then here’s to your astonishment that the broker will also allow you to manipulate the spreads as per your choice, with your of course being the legitimate owner of the extra spreads charged. That means that if you instruct the broker to charge four pips instead of one on any pair, then all your referred clients will be charged the same and these extra three pip will come to you in your IB account.
It might be worthwhile to explore this option while you continue your trading as sooner or later, you will realize that you need work and human interactions even with your successful and profitable trading. We always owe something to the people around us and somewhere we have to serve them irrespective of how much of money we have or we make. introducing broker business goes very well with educational workshops or trading training institutes where you can offer them free training on forex trading and help them open their accounts with your broker. You will be rewarded for your efforts when they start trading and the broker start paying you your commissions. Make sure that you also arrange them very good forecasts so that whatever may happen to the world, your traders make lots of money and they make money like hell.
Best Forex Trading Software For Mac, iPhone and iPad
First and the best solution would be to check with your broker if they have web-browser based trading facilities. These web browsers run on simple a Java application which is always the same irrespective of your computer operating system. It doesn’t matter whether you use Iphones or Ipads or a big-size apple Macintosh computer, as long as you have an internet browser and Java installed in it. Just open you browser and trade it like you would do on any other Windows- based computer.
Discover Why eToro OpenBook is One-Step above Other Trading Platforms
Second alternative is to install Windows emulators or create a disk partition and install windows onto your Mac in the second drive. Windows 7 is compatible with Mac, though it’s a bit slow but it’s going to run any trading platform for you as if it is a Forex trading software for Mac computer.
However, there are traders who don’t like solutions but prefer a rather straightforward no-nonsense approach and for them, there’s eToro forex broker. eToro has an exclusive Forex trading software for Mac user which is as easy to operate as is windows- based trading platform. Traders who don’t like eToro may check out with Easy-forex brokers of Australia who have a proven history of keeping up with technological advancements. They’ve been able to produce Mac- compatible software that you can install in your Iphones and Ipads too and trade while you are on a go. There’s another broker Plus500 who has Forex trading software for Mac computers and it looks safe to trade with it. The functionality and features of forexyard Mac-compatible trading platform is the same as in any other windows-based platform or in meta-trader 4. In fact, you might also consider downloading Meta-trader 4 on your Mac via Crossovers (www.codeweavers.com) and then manually install the missing .DLL files.
That was when we talked about free Forex trading software for Mac but for those over-enthusiastic participants who don’t mind paying a fee for their software, you might want to check out www.thinkorswim.com that has a pure Forex trading software for Mac that they released in collaboration with Ameritrade broker. It has an active-trader platform with ‘drag and drop’ trading features to buy, sell or to put your SL’s and Tp’s. Why it might be categorized among the best Forex trading software’s for Mac users is the fact that this trading platform can also understand ‘complex orders’ including OCO’s. But if you don’t like the looks of it, then read further.
There’s another charting- application and portfolio- tracker software designed exclusively for Mac-users and its called Prota gold 3.3. It’s not just a typical charting and trading software, it also helps you in identifying trends and helping you make decisions on when to buy and when to sell. The software is highly advanced so you can set your own parameters in it for automated market-analysis and trade recommendations. Of course, this software comes to you for a charge but if you are looking for the best Forex trading software for Mac, then you don’t have to really look any further. Prota gold is the ultimate best.
Top 3 Free Forex Trading Platforms For Mac, iPhone and iPad:
Forex Robots – Pros and Cons
In this article, we will examine advantages and disadvantages of using a Forex robot but first let’s quickly understand what Robots are. A Forex robot, in layman language, is a software that reads the steps of your trading algorithm, analyses the markets on your parameters and automatically places a trade on your behalf onto your broker platform.
All in all, a Forex robot does precisely what you would do in the markets if you were to manually login, read the markets and place your trades. Given the rules of perfect trade opportunities and clearly-defined principles of risk-management/position-sizing, these robots can easily eliminate the possibility of making a human error in your trading judgment.
A successful trader knows how much of hard-work and commitment is required in identifying each profitable trade and then converting it to profits. This hard work, at a certain stage, tends to test your patience and changes your mind on your rules, hence bringing in losses. Thankfully, brokers now allow us the use of robots for automated trading and what more can you ask for that the broker itself facilitates you with the coding-language required to write these robots. These Forex robot are written in a very popular language ‘Meta-quote’ available on your meta-trader platform where the script of the robot can easily be loaded onto your platform. After this, it is this robot that will take your place as a trader and handle your account for you as per your rules, as long as you want. So your Job in the end is to only keep opening new accounts, feed some money in it, load your robots and leave the rest to your robot intelligence. Once you have a Robot, the only requirement would to be to keep your computer switched on all the time but now-a-days, even that’s not critical.
==> Copy What Best Traders Do <==
Of course, you always want to keep experimenting new systems that you make but do not feel like testing the old-charts to see the applicability of these new systems. A robot does this job for you where you just need to indicate an old date and the robot will back-test with the retrospective effect. A powerful Forex robot has the potential to scan even one-hundred years old data in less than just an hour and can present a detailed report on your system-performance and potential success of it. What more that the robot can also easily optimize your system based on its maximum possible draw-downs, average-wins and average-losses and suggest you the ‘even-better’ rules. So if we were to compare, we would easily find that the advantages of using a robot are much more than its disadvantages. However the condition that’s paramount for this set up’s success is that your robot is your own brainchild.
A lot of companies and individuals are seen luring the beginners with their so called ‘unbelievable’, unimaginable, killer Forex robot that can trade for them for a very cheap price. Gullible people tend to experiment with these fake robots and end up with huge-losses in their accounts. It’s important that if you wish to automate your trading, you write your own algorithm and then have it converted to a robot with the help of a programmer. In this competitive era, the programmers can make the robot for you at dirt-cheap prices and in the end what you get is your own robot, with your own rules, your intelligence and your own abilities. Of course there’s the risk of losing your intellectual property when you share your system with a programmer and then finally with the broker as good systems spread like crazy. Most of the traders are possessive about their systems, but for a second if you could leave that selfish thought behind, you will see that the whole essence of forex trading is ‘ finding financial independence’ which is not so literal as long as you are physically involved with daily markets. It’s only the ownership and use of your own Forex robot that makes you a complete trader and a fully independent individual. To achieve that super-exclusive freedom, if it demands certain sharing and compromises on your intellectual property, then be it.
Mirror Trading – Trade On Auto Pilot
What Is Mirror Trading?
If you have newly started your forex trading, you might have experienced that it’s not easy to design a profitable trading system, nor is it easy to keep up with the market movements all the time. Imagine a scenario where you could just ask your broker to give you performance records of their other traders, select a few of them with good trading history and then, order your broker to just copy their trades into your own account. Imagine a scenario where the broker would give a list of their best performing traders’ right in your trading platform, you decide with the click of a button that who you want to follow and there, you have his real time trades.
The good news is that your imagination is not just a dream anymore. Yes, you do have access to the successful trader’s records and you do have the facility to choose the best. You do have the facility to copy their trades and the cost of it… Nothing, Nil, Nada.
Mirror Trading The Next Generation:
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This concept of copying somebody else’s trades is Mirror Trading and it is becoming so popular that even the investing companies have started setting up their small-size businesses around it. What more can you ask for when you know that its in effect, the best of traders in the world who will put their trades into your account and your trading is going to be completely ‘hands free’. Log into your account at the end of the week and withdraw your profits, easy as that.
How this is done is that some Mirror-trading companies collect and keep collecting the best of traders from different parts of the world. They give them free accounts to trade so that their performance histories are created for audit and testing parameters. At the same time, these mirror-trading companies keep displaying these traders’s up-to-date performance records on their websites. The best performances obviously come at the top.
In the back office, these companies have a tie up with multiple brokers who would let these companies operate as their Introducing brokers and give them the facility to auto-configure ‘many accounts’ into one single ‘master account’. “Many accounts’ are held with the broker and the ‘master account’ with the company. The company awards the master account to the top performers who put their trades in these accounts to be mirrored to the other connected accounts.
=>FXCLUB – refund you the commission charged on negative trades!!! – Detailed Review <=
Now when the client selects a trader to operate his account, the client is advised to open an account with the recommended broker for this master account. After his account is opened, it is auto-configured to the master account of the selected trader and now whatever the trader does in his own account is automatically replicated/mirrored in the client account also. Of course the client is free to choose his own risk-management parameters so that the occasional aggression or the failure of the chosen trader does not reflect in the account.
On all the trading activities in these accounts, the mirror trading Company earns a commission out of the trading spread which they distribute to the master account trader and spend the rest on their company expenses as well as advertising budgets to attract new clients. In the end, everybody gets a win-win situation where the master trader earns extra money for the same trades that he would have played anyways and the companies earn a living via trading commissions. 3rd Party, the fellow to gain the most is you, whose account is being operated by the best of the traders, at ‘no cost and no effort’ on your part. Isn’t that truly the essence of ‘Hands free trading’ and ‘The easy money’?
Check The Best Forex Bonus Promotion
Bloombex Review
Bloombex provide unique simple to trade web based platforms both for Forex and Options. here you can watch video presentation about Bloombex options platform
Quick Facts:
Founded in: 2009
Headquarters: Singapore
Maximum leverage: 1:200 dynamic
Minimum deposit: $100
Web : www.bloombex.com
Options Trading site : www.bloombex-options.com
Regulation: Not regulate
Platforms: web-based platform (can be use with i-Pad and smart phones)
Payment: Credit Card, Moneybookers, Liberty Reserve or Bank wire
Support: 24/6 support multilingual customer support, available on chat, email and phone.
Forex Platform Advantages:
1 – Tight fixed spreads with no commission or hidden costs
2 – Guaranteed Stop Loss
3 – No Dealing Desk –direct process of trades (positions are executed directly in the system no human involved in the process).
4 – Set Take Profit and Stop Loss by currency and by pips
5 – Calculates Rollover cost live for each position
6 – One click, Double click and Click & Confirm trading (most of the traders do not like the one click as you can have mistakes, the double click prevent it from happen).
7 – Close multiple positions with one click
8 – Customize platform on a personal level
9 – Free demo account (for 21 days)
10 – Advanced charting, technical indicators, alerts and streaming news inside the platform
11 – Mini and Micro accounts
Bloombex Forex Platform - Screen-shots (click on the image to see full size):
Bloombex Box View
Bloombex Account Statment
Bloombex List View Screen Shot
Client Report
Binary Options Platform Advantages:
1 – You know exactly how much you risk and what will be your profit
Profit of up to 500% on One Touch Options
2 – Profit of up to 75% on CALL / PUT options
3 – Up to 10% return on investment Over 80 tradable currency pairs, commodities, indices, shares.
4 –Double UP – instantly create another position on a winning option
5 – Ability to Rollover the position to postponed the expiry of the option
Key Disadvantages:
Not regulated
Summary:
Bloombex suggest unique and easy to use platform with the ability to trade Forex and options under the same roof. The company is not regulated and this is big minus but in the other hand they are not registered in an Exotic island (like most scam companies).
On the bottom line – I think that the unique platform worth a try. Open a free demo account (for 21 days), try the platform on virtual money and then decide.
Proper Disclosure – I’m affiliate of Bloombex. On the review above I tried to provide details and facts as they are. Here you can register to Bloombex affiliate program.
Regarding to binary options trading – Options trading has some risks of partial or full funds loss.
Forex Regulators – why it’s important for Any Forex trader
On the following post you are going to discover what the Forex regulators are and why these bodies are so important for Any Forex trader.
So how do you start your hunt for your perfect broker? Do you go to Google, type ‘cheap broker’ and then search? Is it a fancy broker website that appeals to you the most? Is it things like a free-eBook or 30% deposit bonus and stuff like that on the broker’s website that affect your judgment?
If you answered’ Yes’ to any of the above, then my following statement will come as a shock to you but it is true that an average trader loses an average of $15k to some fake, corrupt and the fraudulent broker. Internet crime is on a rise so you will be surprised to know that nearly 50/% of the brokers that you see online either do not exist in real or are indulged in all kinds of malpractices including price manipulations and outright thefts so as to dupe you of not only your hard-earned profits but also of your basic investments. It might be the time to correct your selection criteria which takes us to understanding who ‘ Forex Regulators’ are.
Like any other Industry, forex also has a supervisory body in each country with the main role to lay down the policies for fair and ethical business conduct of all forex-related bodies within its jurisdiction and ensure maximum protection to the interest of their financial investors. These supervisory bodies are called ‘FOREX REGULATORS’ that make it mandatory for all forex brokers or IB’s or signal sellers existing in its jurisdiction to first register themselves and then operate within the policy framework with due diligence and strict compliance to the laid down policies. Mostly independent, these bodies enjoy a wide range of rule making, investigatory and enforcement powers to meet their objectives which in a single line definition is ‘Principles of an honest business and fighting financial crime’.
To start with your broker search, it is important that you go to the website of the regulatory body of the country where you reside or wish to trade. On these websites, Forex Regulators publish an up-to-date register that has the list of all its registered broker members. It is on the same register that you will find details of any or all the complaints lodged against any broker by traders like you and me who might have suffered due to some corrupt practices of the broker. This register will also have a list of banned or bankrupt or insolvent brokers or other forex related scam companies, so that you know who you have to keep away from. Its only after scrutinizing this register that you shortlist a few brokers meeting your criteria and then you go to their websites, never through Google. Ofcourse, then you are free to decide who is offering the maximum bonus or free ebooks or personal coaching etc. anyway, let your first step always be to go the regulators website and then find the broker. You must subscribe to the newsletter of the regulator so that they can keep you apprised of the latest scams companies and the latest brokers gone bankrupt. There’s also the advantage that next time you find a problem with your broker, you know where you have to go and report.
To name a few of these Forex Regulators, there’s financial services authority (www.fsa.gov.uk) in United Kingdom that governs all forex related activities within the country. Similarly, there’s National futures association (www.nfa.futures.org) in United States, Swiss financial market supervisory authority (www.Finma.ch ) in Switzerland and so on. I can tell you these Forex Regulators at least are not fake. In fact, if you could take out time to visit their websites, you will be able to find the multiple options you have with you to register your complaints against a broker if the broker refused to pay your profits or manipulated your orders. Do you know that these forex regulators also facilitate you to ask for compensation in case your broker is fair but goes bankrupt? You might want to check out financial services compensation fund (www.fscs.org.uk) where you will learn that after finding all kinds of broker adversities, you can still file a compensation claim at no cost to you at all. What more, even the membership to these bodies is absolutely free.
