Any professional trader invest in brokers NOT regulated in his country?
I know some traders who are professional and are making a living by trading forex and none of them want to trade in brokers who are not authorized to operate in their countries. I understand their concern because the ammount of deposits are high and they want an insurance of their funds in case something goes wrong with the broker. You can make a complaint to regulatories entities of your country and they will investigate the claim and give you a solution for your case. But if the broker its not authorized they wont do anything because its listed in their blacklisted and not authorized to operate in your country.
For beginners and amateurs who trade mostly with bonus and small deposits I think the laws and insurance does not matter too much so thats why the number of traders are too high in this new type of scam brokers who offer high bonus and "free funds" to start trading....
This is just an alert to those who want to start trading for a living and want to do in a safe and legal way to avoid any future issues.
“Know when you’re getting out before you get in.” Jack Schwager
Frankly, I'd recommend to always trade with licensed and regulated brokers by reputable regulators, even if they are regulators situated in other countries. It's one thing to trade with an FCA-regulated broker, it's an entirely different thing to trade with a broker licensed by a regulator on some Pacific island in the middle of nowhere. And last but not least, always check whether regulators have issued any warnings against the broker in question.
Have there been any fines, notices, etc., why they were issued, when they were issued, have there been any problems since then.
as a trader we must be able to choose a regulated broker. if the broker is not regulated then we should move to using a regulated broker. because regulated brokers will guarantee the funds we trade. Unregulated brokers will endanger the funds we lag behind and the profits we get from our trading results. we can choose a regulated broker from several options provided by traders at this time. because they are more experienced and also understand which brokers will provide guarantees and benefits for our trading results.
for me to be able to trade, of course I chose a regulated broker, because the funds we invested would be very safe if the broker we used was regulated. if we use a broker that has not been regulated for losses that we will receive if we experience the closing of the broker that we follow the money we infest will disappear. so the goal we are looking for is regulated to protect our money if the broker goes bankrupt.
well for me i dont see any professional trader who invest in non regulated broker because they are pro trader they always enter in market with huge amount of money so why they invest their big money in non regulated broker actually they dont use reatail account like us they us commercial account where they get diffrent services than any other from broker side
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