|Six Questions to Ask Your Forex Broker|
We find no excuse for not to repeat that working with a reliable forex broker comes before anything else in forex trading. You may have found the holy grail and your strategy could be making thousands of bucks every month consistently. However what good is it to be if you selected a vulturous forex broker? These are the main six questions to ask your forex broker in order to distinguish a reliable forex broker from a fraud forex broker.
Is the Broker Regulated?This should be the first and by far the most important question to ask your forex broker. Compliance with strict standards and safety of your funds come before any other affair in trading in our humble opinion and it is ensured by the strict regulation. Imagine that you have a winning trading strategy under your disposal and you are earning a decent amount of money on forex, however consider whether it really matters, if you are not going to be able to withdraw your profit from the broker.
FCA (UK), ASIC (Australia), CFTC (US) and SEC (US) are the regulators which We respect the most and We would comfortably say that any broker that are under the jurisdiction of those regulators are to be trusted. They will ensure that the broker you are trading with is not located in a tropical off-shore island where you are going to be able to reach if anything goes wrong with your account and trades.