Preconceived Ideas
In response to the above- I too use to assume all forex companies and brokers from those unregulated area were scams and bucket shops, however times are changing and that is no longer the case. Itrade(now Eforex) was regulated by the NFA and left the NFA in good standing, all of this information is available on the NFA's website. They did not go bang, they left because the NFA raised the capital requirement for forex brokers to $20 million, another absurd regulation and not many brokers in the U.S. are capable of having $20 million sitting in the bank doing nothing. During their time being regulated by the NFA, Itrade received a fine for not having an extensive enough anti-money laundering program. Interbank FX received a fine for this same violation. Alpari was fined for the same offense by the FSA as well. I spoke with the head management of Eforex and they have changed nothing regarding their policies and procedures as they are in the process of becoming members of the FSA and other regulatory bodies. The one thing I dislike about these online forums, especially concerning forex, is hearsay is taken as truth and fact, people always assume the worst instead of researching and finding out the facts.
eforex ??? Not regulated AND in Panama!! The hub of bucket shops.
They were the old iforex that went bang and now they have opened up again as eforex.
Anyway, I will watch your performance and I must add that I have a very high regard for Duelllatorus but I don't see why they can't go for more accredited brokers.
In response to the above- I too use to assume all forex companies and brokers from those unregulated area were scams and bucket shops, however times are changing and that is no longer the case. Itrade(now Eforex) was regulated by the NFA and left the NFA in good standing, all of this information is available on the NFA's website. They did not go bang, they left because the NFA raised the capital requirement for forex brokers to $20 million, another absurd regulation and not many brokers in the U.S. are capable of having $20 million sitting in the bank doing nothing. During their time being regulated by the NFA, Itrade received a fine for not having an extensive enough anti-money laundering program. Interbank FX received a fine for this same violation. Alpari was fined for the same offense by the FSA as well. I spoke with the head management of Eforex and they have changed nothing regarding their policies and procedures as they are in the process of becoming members of the FSA and other regulatory bodies. The one thing I dislike about these online forums, especially concerning forex, is hearsay is taken as truth and fact, people always assume the worst instead of researching and finding out the facts.