Pharaoh
Brigadier General
- Messages
- 20,324
I'm glad to see this thread has been moved to a more appropriate place.
I think that being well-regulated is important. My only firm faith is in US, Swiss, and UK regulation. ASIC is showing some signs of improvement. The jury is still out on New Zealand (but what I've seen so far doesn't look promising). Cysec has been asleep at the switch for quite some time, but lately has finally started slapping some brokers with fines. I still don't trust Cysec regulation, but if they continue to upgrade their actions against bad brokers, my view of Cysec will improve.
I would like to point out that there are under-regulated brokers which are ECN or STP. There are under-regulated brokers which do not have a reputation for scamming clients. I personally recommend going with a well-regulated broker, but this is NOT the same as a blanket condemnation of all under-regulated brokers as scams.
It would be nice if all brokers with LPs would list those on the homepage. Since the information appears to be readily available by asking a live chat agent in this case, and since I know of no regulator which requires this information be placed on the homepage, I think that HotForex's not having it on their homepage is a simple public relations mistake.
I'm waiting to see if any live chat agent for any broker can with just a few words in chat prove that a broker is ECN or STP. If someone can show a live chat where indisputable proof is offered, please post it here and educate all of us.
I've even stepped in and explained to clients of scam-rated brokers that certain specific situations with those brokers were not scams. Believe it or not, some people can lose all of their money from their own actions before a bad broker has a chance to play any tricks. Does this mean that Ed or James will accuse me of supporting those brokers?
I think that being well-regulated is important. My only firm faith is in US, Swiss, and UK regulation. ASIC is showing some signs of improvement. The jury is still out on New Zealand (but what I've seen so far doesn't look promising). Cysec has been asleep at the switch for quite some time, but lately has finally started slapping some brokers with fines. I still don't trust Cysec regulation, but if they continue to upgrade their actions against bad brokers, my view of Cysec will improve.
I would like to point out that there are under-regulated brokers which are ECN or STP. There are under-regulated brokers which do not have a reputation for scamming clients. I personally recommend going with a well-regulated broker, but this is NOT the same as a blanket condemnation of all under-regulated brokers as scams.
It would be nice if all brokers with LPs would list those on the homepage. Since the information appears to be readily available by asking a live chat agent in this case, and since I know of no regulator which requires this information be placed on the homepage, I think that HotForex's not having it on their homepage is a simple public relations mistake.
I'm waiting to see if any live chat agent for any broker can with just a few words in chat prove that a broker is ECN or STP. If someone can show a live chat where indisputable proof is offered, please post it here and educate all of us.
I've even stepped in and explained to clients of scam-rated brokers that certain specific situations with those brokers were not scams. Believe it or not, some people can lose all of their money from their own actions before a bad broker has a chance to play any tricks. Does this mean that Ed or James will accuse me of supporting those brokers?