I would be careful with that broker. They claim to be based in the UK, but they are not regulated by FCA. This should raise a red flag for traders.
Can I trust an offshore broker?
- Thread starter Lukas Schmidt
- Start date
- Watchers 16
I traded with oanda for a few months. They were good initially. Execution was good .spreads were reasonable. But then weird things started to happen. Their spreads became widened abnormally sometimes even during the regular hours, No news-break! No event! Also they created a lot of problems with my withdrawal. Whenever I asked about my withdrawal their client support failed to provide me a valid explanation. I got sick and tired of their tantrums so I closed my account there. The one I am currently trading with has a good withdrawal policy. At least I did not face any problems with them so far.
And how is it related to offshore regulations?
Not sure if it fits in here but i replied because i find these offshore/online forex trading opportunities still allows many to make a good living out of it.
What a surprise. Never heard about such attitude to clients from them.
anyway, I don't see any problem, in trying some other companies, just be careful
Maybe you meant that offshore firms are more liberal due to lack of strict regulations and give more opportunities?
it's ok man I just wondered what you were talking about
I agree that there are more bonuses and actions than with fca-etc....regulated ones. That's a fact
As for other opportunities, they are all the same, excluding scams which appear on the market sometimes. Like it was said in Forrest Gump movie, s*it happens.
Hello alexfx,
I also believe that offshore brokers are more liberal as they are not regulated and can provide you those trading conditions which are generally not provided by the regulated ones like higher leverage, no restrictions on hedging or scalping etc. it’s just you need to be very careful when choosing the right one for you. You can read their reviews on different forums and test their live accounts with small deposits as well.
I also believe that offshore brokers are more liberal as they are not regulated and can provide you those trading conditions which are generally not provided by the regulated ones like higher leverage, no restrictions on hedging or scalping etc. it’s just you need to be very careful when choosing the right one for you. You can read their reviews on different forums and test their live accounts with small deposits as well.
I was not talking about regulated or unregulated brokers, as I wrote about only regulated ones.
The difference between them is only in regulatory authorities that can be onshore and offshore
I do not believe in offshore brokers, as a rule they all scam.
Since there are many brokers in the world, then in discarding all offshore companies, you will have a choice.
Since there are many brokers in the world, then in discarding all offshore companies, you will have a choice.
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