Choosing a forex broker is mandatory before deciding to plunge into the world of trading. Therefore it takes the selection of forex brokers who really can be trusted because in the opening of forex real account is required to send some funds that will be used as a deposit to the forex broker. If wrong in the selection, can be your deposit funds at stake.
There are basically three things that can be used as a basis in choosing a true forex broker can be trusted. By knowing which of these forex brokers really trust you can just decide where you can make your partner in your next transaction.
LEGALITY
This is very important, because regulated forex brokers will obviously have very high security. Each country has an institution that regulates its own forex trading. There are several world-recognized regulatory bodies that you can make reference to
America: Commodity Futures Trading Commission (CFTC)
UK: Financial Services Authority, now known as FCA UK
Germany: Bundesaufsichtsamt Fur der Wertpapierhandel (BAWE)
Hongkong: Securities and Futures Commission (SFC)
Singapore: Monetary Authority of Singapore (MAS)
French: French Commission des Operations de Bourse (COB)
Australia: Australian Securities and Investments Commission (ASIC)
Indonesia: Futures and Commodity Trading Agency (Bappebti)
Others such as MFSA (Malta), MiFID (Europe), FINMA (Switzerland)
What you need to note, usually these regulated official brokers do not have bank accounts in Indonesia to receive deposit funds from customers. They only receive funds directly from their accounts in their home countries.
Then how about meeting with an outside broker who claimed to have a local bank account in Indonesia to receive deposit funds or withdrawal from traders? If you meet with like this then you should be careful because they usually do not have official regulations as mentioned above.
To add to your knowledge, here's a feature of a legal broker you can use:
Has a very complete and also clear establishment license. Legitimate companies will clearly show their permission permits.
In addition to the establishment permit, legal and official brokers also have official permission from the local government as regulator.
Customers are required to complete official and legal documents so they can be verified before opening the account.
It is true to uphold the Money Laundering Act by affirming using wire transfer and strictly prohibiting the use of third parties, be it money changer or individual.
Using segregated accounts, separate accounts that are different from corporate financial accounts.
Have locations with clear legal regulations such as the United States, Britain, Australia, Switzerland, Germany and France.
In addition, this characteristic feature of illegal brokers that you can make a handle to avoid the scam brokers scams.
Usually they also have a business establishment permit, but be wary also because not a few who do not have a company license.
Not listed for operating secretly hidden, so do not expect to ask a clear legal entity let alone regulation.
Their main imaging idea is the process is very easy and fast and does not need official documents for verification. The important list, entry and trading
Always use the services of third parties to make deposits and withdrawal, not infrequently also use the services of individuals who are very vulnerable to once diverted.
For locations it is certain that you find unusual names and have unclear legal regulations such as Russia, New Zealand, Virgin Island, Cayman Islands, Bermuda, Seychelles, and many more countries with unfamiliar names.
PLATFORM
Once you are sure of a clear broker regulation, then the next step you take is to look at the services and platforms used. This is very important because in the future you are in transactions will really depend on the platform you use. If at the moment you will be trading and you can not connect with the server then it is a very serious thing.
With a small fund below Rp. 100 million or under about $ 10,000 you can use a broker Metatrader platform either 4 or 5. Make sure that the broker you choose has a good server because you will transact for 24 hours a day except Saturday and Sunday. Also be sure to also have customer service that can be contacted any time you need such as live chat, email or phone service.
SPREAD & DEPOSIT
Spread is the difference between the selling price and the purchase price, this is one means of forex brokers in taking profits and stated in PIPS or Point Percentage. Not a few forex brokers who offer a high spread, this is why the spread is also one of your main factors in choosing a forex broker. In addition, a small spread will also accelerate your BEP trading so you can get the maximum profit. But be on the lookout with the little spreadsheet traps or Fix Spreads, but it's just a marketing trick (gimmick) to outwit the real world where there are other consequences behind it that are detrimental to the trader, and usually done by the kind of brokers.
In addition to the spread, you should also pay attention to what the minimum deposit is required, usually the official regulated broker and minimum legal deposit is $ 200 and strict verification is required to initiate an account opening. The requested document is usually a minimum of two, the first document is the official identity of your photo, and the other is a supporting document that corroborates the first document.
Although a cursory look complicated but this is all for the comfort of your own trading. Trading in companies that are clear and have official regulation will make your trading comfortable, and certainly you will avoid the action of fraud.
There are basically three things that can be used as a basis in choosing a true forex broker can be trusted. By knowing which of these forex brokers really trust you can just decide where you can make your partner in your next transaction.
LEGALITY
America: Commodity Futures Trading Commission (CFTC)
UK: Financial Services Authority, now known as FCA UK
Germany: Bundesaufsichtsamt Fur der Wertpapierhandel (BAWE)
Hongkong: Securities and Futures Commission (SFC)
Singapore: Monetary Authority of Singapore (MAS)
French: French Commission des Operations de Bourse (COB)
Australia: Australian Securities and Investments Commission (ASIC)
Indonesia: Futures and Commodity Trading Agency (Bappebti)
Others such as MFSA (Malta), MiFID (Europe), FINMA (Switzerland)
What you need to note, usually these regulated official brokers do not have bank accounts in Indonesia to receive deposit funds from customers. They only receive funds directly from their accounts in their home countries.
Then how about meeting with an outside broker who claimed to have a local bank account in Indonesia to receive deposit funds or withdrawal from traders? If you meet with like this then you should be careful because they usually do not have official regulations as mentioned above.
To add to your knowledge, here's a feature of a legal broker you can use:
Has a very complete and also clear establishment license. Legitimate companies will clearly show their permission permits.
In addition to the establishment permit, legal and official brokers also have official permission from the local government as regulator.
Customers are required to complete official and legal documents so they can be verified before opening the account.
It is true to uphold the Money Laundering Act by affirming using wire transfer and strictly prohibiting the use of third parties, be it money changer or individual.
Using segregated accounts, separate accounts that are different from corporate financial accounts.
Have locations with clear legal regulations such as the United States, Britain, Australia, Switzerland, Germany and France.
In addition, this characteristic feature of illegal brokers that you can make a handle to avoid the scam brokers scams.
Usually they also have a business establishment permit, but be wary also because not a few who do not have a company license.
Not listed for operating secretly hidden, so do not expect to ask a clear legal entity let alone regulation.
Their main imaging idea is the process is very easy and fast and does not need official documents for verification. The important list, entry and trading
Always use the services of third parties to make deposits and withdrawal, not infrequently also use the services of individuals who are very vulnerable to once diverted.
For locations it is certain that you find unusual names and have unclear legal regulations such as Russia, New Zealand, Virgin Island, Cayman Islands, Bermuda, Seychelles, and many more countries with unfamiliar names.
PLATFORM
Once you are sure of a clear broker regulation, then the next step you take is to look at the services and platforms used. This is very important because in the future you are in transactions will really depend on the platform you use. If at the moment you will be trading and you can not connect with the server then it is a very serious thing.
With a small fund below Rp. 100 million or under about $ 10,000 you can use a broker Metatrader platform either 4 or 5. Make sure that the broker you choose has a good server because you will transact for 24 hours a day except Saturday and Sunday. Also be sure to also have customer service that can be contacted any time you need such as live chat, email or phone service.
SPREAD & DEPOSIT
Spread is the difference between the selling price and the purchase price, this is one means of forex brokers in taking profits and stated in PIPS or Point Percentage. Not a few forex brokers who offer a high spread, this is why the spread is also one of your main factors in choosing a forex broker. In addition, a small spread will also accelerate your BEP trading so you can get the maximum profit. But be on the lookout with the little spreadsheet traps or Fix Spreads, but it's just a marketing trick (gimmick) to outwit the real world where there are other consequences behind it that are detrimental to the trader, and usually done by the kind of brokers.
In addition to the spread, you should also pay attention to what the minimum deposit is required, usually the official regulated broker and minimum legal deposit is $ 200 and strict verification is required to initiate an account opening. The requested document is usually a minimum of two, the first document is the official identity of your photo, and the other is a supporting document that corroborates the first document.
Although a cursory look complicated but this is all for the comfort of your own trading. Trading in companies that are clear and have official regulation will make your trading comfortable, and certainly you will avoid the action of fraud.
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