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    Thread: Is there local forex broker in your country? Are they good?

    1. #1
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      Default Is there local forex broker in your country? Are they good?

      Normally when we talk about forex trading we only talk about foreign brokers which are located outside of our countries.
      But do you have a forex broker that is located in your country? If yes, then are they good too compared to foreign broker?
      Traders don't know the future that is why traders need market scenarios.


    2. The following 12 users say Thank You to Beautiful Quynh for this useful post.

      azmassi (04-06-2018), Batavia (04-06-2018), Honey Bee (04-07-2018), moneygrows (04-06-2018), Unregistered (8)

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      Yes, we have local brokers here in my country but I don't think they really are local in the sense of real broker.
      Mainly they are just a big IB who cooperate with brokers from outside like brokers in Australia, Russia and other countries.
      Building a forex company from the start is not easy and needs a lot of access so the better option for local entrepreneur is to forge a partnership with foreign brokers.


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      Quote Originally Posted by Beautiful Quynh     
      Normally when we talk about forex trading we only talk about foreign brokers which are located outside of our countries.
      But do you have a forex broker that is located in your country? If yes, then are they good too compared to foreign broker?
      In some country like Indonesia, they have local brokers and their government are doing everything they can to support them like limiting access for people to foreign broker websites. There are always the good and bad side of such action. The good part would be the government are trying to help local business while the bad part is that clients are stuck with brokers that have unattractive spread and services.


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      Quote Originally Posted by Beautiful Quynh     
      Normally when we talk about forex trading we only talk about foreign brokers which are located outside of our countries.
      But do you have a forex broker that is located in your country? If yes, then are they good too compared to foreign broker?
      i don't wanna be a liar
      in my country almost all broker local is not good they are cheat.. when you win and want to close manual the server is re-quote and when you want to cut loss the server is very faster, i more trust with broker from another country like instaforex and etc. that's why in my country the domain instaforex .com and others is blocked with my goverment because of losing in business competition, many people of my country choosing to trade with brokers from abroad

      Quote Originally Posted by PhantomTrader79     
      Yes, we have local brokers here in my country but I don't think they really are local in the sense of real broker.
      Mainly they are just a big IB who cooperate with brokers from outside like brokers in Australia, Russia and other countries.
      Building a forex company from the start is not easy and needs a lot of access so the better option for local entrepreneur is to forge a partnership with foreign brokers.
      many of our local brokers are already troubled and who had a booming at that time was bes*pro***..**
      and broker alpa** does not have get permission from Bap**ti... and only IB in our country..


      Quote Originally Posted by moneygrows     
      In some country like Indonesia, they have local brokers and their government are doing everything they can to support them like limiting access for people to foreign broker websites. There are always the good and bad side of such action. The good part would be the government are trying to help local business while the bad part is that clients are stuck with brokers that have unattractive spread and services.
      where you come from mr. moneygrows it seems like you know much about my country


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    9. #5
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      Yes, there are local brokers within my country. Whether they are good or not, I do not know as I do not use their services. Their fees can be quite high, though, and their spread is quite thick. I prefer foreign broker like insta.
      For God so loves the world that He gives His one and only Son Jesus that whoever believes in Him (Jesus) shall not perish but have eternal life!


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    11. #6
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      I do not see any regulated forex brokers in my country. There are though big broking houses which allow us to trade NSE and BSE market, we can trade currency, derivatives, commodities and stocks by way of cash and future and options but a big part of the earnings we can make of our trading goes to either brokerage or taxes and if there are loses they are highly increased by these add ons of broker charges and security transaction taxes. I would not have bothered if i had to pay a part of my profits but here i have to pay on every transaction immaterial of whether it goes in profit or loss.

      While forex brokers are really amazing as they allow us to trade this world class market for very little spread and no add on charges.


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      Quote Originally Posted by chongjasmine     
      Yes, there are local brokers within my country. Whether they are good or not, I do not know as I do not use their services. Their fees can be quite high, though, and their spread is quite thick. I prefer foreign broker like insta.
      We need to search about brokers before investing our money first check the regulations or their spears or it will market maker or liquidity providers, all the things we will check how much it will have spread on basic currency pairs then invest money for making profit.


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      Batavia (04-07-2018)

    15. #8
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      Quote Originally Posted by Batavia     
      i don't wanna be a liar
      in my country almost all broker local is not good they are cheat.. when you win and want to close manual the server is re-quote and when you want to cut loss the server is very faster, i more trust with broker from another country like instaforex and etc. that's why in my country the domain instaforex .com and others is blocked with my goverment because of losing in business competition, many people of my country choosing to trade with brokers from abroad



      many of our local brokers are already troubled and who had a booming at that time was bes*pro***..**
      and broker alpa** does not have get permission from Bap**ti... and only IB in our country..




      where you come from mr. moneygrows it seems like you know much about my country
      Really? That is not good then. I thought because it's a local broker they will be more honest to deal with the customer because it's their citizen.
      From the comments here I think everywhere is the same because you can't have guarantee that the broker will be honest.
      Traders don't know the future that is why traders need market scenarios.


    16. #9
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      Local broker means local level treatment lolz
      In here, the brokers are sometimes good but definitely not all of them are bad. However, one important thing to note is that they don't have real advantages compared to brokers from the outside.
      People still prefer to trade using brokers from outside of the country such as Australia or UK.


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      I live in small country and we don't have local brokers, but that isn't problem for me because there are many brokers world wide to choose from.


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