I am thinking of an account with IB or Oanda.I have two questions about how to protect your money with a Forex broker: 1. How do you protect your Forex account from any type of fraud, such as fraudulent retreats?2. How do you protect your account if the broker declares bankrupt?Thanks in advance.
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There are no guarantees, although it seems unlikely that a broker disappoints its customers if your business is profitable and sustainable.You should investigate well before deciding.An additional security measure is to divide your capital among several brockeres to avoid the risk of putting all the eggs in a single basket.Of course, this means that you have enough capital or you know how to handle small amounts in a technical way.The path to profits in Forex is hard and full of challenges.
I have been with Oanda for many years and I have never had problems with the funds.They are very fast to allow deposits or withdrawals, and I have never had inconvenience using credit card.The only big problem with Oanda is that they expand their spreads during news, sometimes up to 31 pips.
Hello, currently use Forex.com (Gain Capital
1. A retirement can only be made to an account that has the same name as the trading account.2. Choose a good broker: one recognized, well established, without suspicious bonuses or incentives, etc.EAS/indicators/alert programmer for MT4/MT5.
Gain capital is fine.Lose in Demo, wins in Real.
Fraud protection: Make sure the broker is regulated in a country with financial organizations of good reputation and not have complaints or disciplinary actions against it.This website explains some measures to prevent fraud when choosing a broker: https://www.cftc.gov bankruptcy protection: there is no 100% safe protection against this.Any broker can collapse at any time, as happened with Bears & Stearns and Lehman Brothers.A strategy is to verify the solidity of its capital on the site of the CFTC, which applies only for brockers in the United States.If they are regulated by the CFTC and registered in the NFA, they must meet minimum annual capital requirements, information that the CFTC publishes updated every year.You can check the most recent data and the complete history of net capital of all brockers here: https://www.cftc.gov loses in demo, wins in Real.
Don't worry so much.If the broker declares bankrupt, you were probably not doing things well from the beginning.Why don't you focus more on learning to operate than to worry about things out of your control?In addition, if they scam you, consider that it is a expensive but valuable lesson.However, in case you decide to take this seriously, check if the broker is regulated.If it is not, it is like delivering your money to a stranger in the street and expecting them to return it with interest.Good luck with that!
It is curious that you ask this, because there really is no infallible way to protect your 100%funds.It's like walking through a dark forest: you can wear a flashlight, but there will always be risks.What you can do is diversify your funds between several brockeres and make sure that each one is registered with trustworthy regulatory organisms.At least you reduce the impact of any problem.But be careful, the regulation does not guarantee that money is sure, only that the broker plays within certain rules.
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