What stops brokers to...

[navyseal]

One regulated broker would never stop their services to bring all trader's money. Please choose carefully a well-known broker to prevent it happens

 

[Viator]

Today i had conversation with real profi broker at the bank he pointed me at this guy Anton Kreil as a very important business figure and opportunity to invest in his fond ---> Product & Instrument Coverage // Institute of Trading and Portfolio Management .Very interesting info pretty much sums up all of my suspicions about symbiotic relationship between "web template brokers" <----->"retail traders".I need yours opinions about this one.

 

[Pharaoh]

That's exactly the opposite of the advice most professionals give. He seems to think that traders should track everything that can be traded.

Traders, especially beginning traders, need to restrict their focus, not see how many different forex pairs, stocks, and commodities they can follow. Naturally, tracking items that correlate to your main focus is worthwhile, since divergences from those usual correlations can serve as warnings or as trading opportunities.

 

[Viator]

That's exactly the opposite of the advice most professionals give. He seems to think that traders should track everything that can be traded.

Traders, especially beginning traders, need to restrict their focus, not see how many different forex pairs, stocks, and commodities they can follow. Naturally, tracking items that correlate to your main focus is worthwhile, since divergences from those usual correlations can serve as warnings or as trading opportunities.

Exactly,but it was just unofficial talk between me and bank broker.I have restricted my focus with some CFD and some currency pairs.For me it was interesting to see different approach of Anton Kreil,but web site,and i mean writing about money protection,portfolio are something which most of "web temlplate brokers" do not have.All in all...in my search for a quality and secure broker i had found that this can be only bank or some ppl like that Anton,i will try to contact him mostly because we have same attitude and opinions toward market.When i say "secure broker" it means that has to be some trust and fail safe mechanism (FSA and other regulations) because one trader take enormous risk participating in a Market with very poor experience and have against himself others mechanism "provided" by brokers.

 

[Rambo35]

should ask for more government regulation which means tax paying

I would strongly disagree with that. There are bad brokers out there, no doubt. Regulation will not prevent that from happening. Those brokers, or rather individuals who run scam brokers, are criminals and do not care about rules and regulation. MF Global, PFG Best, Stanford Financial etc. You just need to make sure you pick a well established broker or if you prefer to test a new broker use common sense. There are some great brokers out there and I would ignore what others say about them. Test them yourself with a minor amount and you will find out.

 

[brendyfx]

I would strongly disagree with that. There are bad brokers out there, no doubt. Regulation will not prevent that from happening. Those brokers, or rather individuals who run scam brokers, are criminals and do not care about rules and regulation. MF Global, PFG Best, Stanford Financial etc. You just need to make sure you pick a well established broker or if you prefer to test a new broker use common sense. There are some great brokers out there and I would ignore what others say about them. Test them yourself with a minor amount and you will find out.

Totally agree with your post.

 

[Pharaoh]

I would strongly disagree with that. There are bad brokers out there, no doubt. Regulation will not prevent that from happening. Those brokers, or rather individuals who run scam brokers, are criminals and do not care about rules and regulation. MF Global, PFG Best, Stanford Financial etc. You just need to make sure you pick a well established broker or if you prefer to test a new broker use common sense. There are some great brokers out there and I would ignore what others say about them. Test them yourself with a minor amount and you will find out.

Mixed feelings here.

Yeah, the NFA totally blew it with PFG, but you can bet that they've been directly contact all the banks tied to big brokers to make sure no one else is pulling the same stunt. Don't forget, the NFA also forced a lot of brokers to return a lot of profits made by differential slippage. Who's going to catch an unregulated broker doing that, punish the broker, and make the broker return the money to traders?

Regulation isn't perfect. There are incidents like MFG and PFG, but the number of "take the money and disappear" cases with unregulated brokers is a lot higher. At least with regulated ones, even if the money is gone, the guilty parties end up in prison.