Can we trust a broker based on regulation

[Ary Barroso]

1st all of; you need to check their regulation status properly; then if your broker is a new broker; then leave it immediately!

 

[momo3HC]

The only noteworthy thing I found about JP Markets is that they got their FSCA license suspended for a few days in March. I failed to find anything of interest about Pepperstone. So what are their long stories you are referring to?

Well I've heard and read for a price manipulations at least. I don`t use them so can`t confirm it but the rumors are not so less.

 

[momo3HC]

Regulated will means that you will still get your money back if you need so, see my point ? That's the whole main idea for that matter anyway. You can then contact their regulatory contact and then he will contact them and there is a big chance of money back.

You said it right: "...big chance of money back.". But it`s not sure. The chance with unregulated ones is the same. Don`t get me wrong. I`m not arguing with anyone. Just presenting my point of view. 😉

 

[Callum Richards]

I use some offshore and find it can give benefits

 

[DT77]

I use some offshore and find it can give benefits

Yes there a few benefits of offshore ones

 

[Enivid]

You said it right: "...big chance of money back.". But it`s not sure. The chance with unregulated ones is the same. Don`t get me wrong. I`m not arguing with anyone. Just presenting my point of view. 😉

That's not even funny. How do you get money from an offshore broker that either bankrupts or turns scam?

 

[Jungletrader]

And that's why we have to use micro and nano accounts to test out a broker..and this is why it makes more sense to go live..

Exactly this , as with any platform micro account , test deposits and withdrawals and after a month or so up your balance that's about as much as we can do

 

[momo3HC]

That's not even funny. How do you get money from an offshore broker that either bankrupts or turns scam?

The probability is the same like with the regulated one- 50:50. You`ll take it or will not. If somebody want to scam you there`s no laws which can stop him. All that can everyone do is just to be prepared and always with something in mind.

 

[Enivid]

The probability is the same like with the regulated one- 50:50. You`ll take it or will not.

Not only these probabilities has nothing to do with the reality, it also doesn't answer the question of how is it at all possible to get even some of the money lost to a scam unregulated broker back.

If somebody want to scam you there`s no laws which can stop him.

It is not the law that stops the scammers and gets you your money back - it is law enforcement that does so.

All that can everyone do is just to be prepared and always with something in mind.

Yeah, like choosing a broker that can be and actually is held accountable.

 

[Baazex]

If you choose a regulated broker your money is in safe hands though loss is a part of forex trading business but still working with a regulated broker is safer and needful check your broker is regulated as per your country laws or not before proceding further.

 

[momo3HC]

If you choose a regulated broker your money is in safe hands though loss is a part of forex trading business but still working with a regulated broker is safer and needful check your broker is regulated as per your country laws or not before proceding further.

I can`t agree with you at 100% mate. If you ask why just check my previous posts in this thread.