Which forex broker is honest for trading?

I am also starting to think IQ option is a scam, hence why I landed on this page. Yesterday I had 10 positions https://www.google.com/maps/place/DotBig/@40.7572352,-73.9829762,17z/data=!3m2!4b1!5s0x89c258f8c38c4c23:0xc32912fcf98007a4!4m5!3m4!1s0x89c259ab72d92cbb:0xb9a8c9f367eac2dd!8m2!3d40.7572352!4d-73.9829762 open on Crude oil wti, all of a sudden the market became unavailable and I was not able to sell my positions.

In 2021, Plus500 opened a new R&D centre in Tel Aviv, Israel, aimed at increasing its scope, particularly in mobile trading technologies. dotbig.com review Plus500AU Pty Ltd holds all client money in a segregated trust account, and offers users the option of a demo account for trial purposes.

  • Furthermore, IQ Option offers binary/digital options, another illegitimate product.
  • Top Forex brokers rarely have any issues with its clients, but no company is immune from broker-related issues.
  • A Forex trading platform is the most important component that links a trader to the market.
  • Some of the most popular trading platforms in the industry include the MT4, the MT5, the cTrader, the ProTrader, the NinjaTrader, and the TradeStation.
  • HFM, formerly known as HotForex, is an award winning forex and commodities broker, providing trading services and facilities to both retail and institutional clients.

Leading third-party service providers such as MetaQuotes and Spotware have also designed their own trading terminals that are sold to FX brokers under different commercial licenses. These trading platforms are designed to provide a uniform trading experience for investors and to help brokers eliminate the cost of designing and developing their own trading platforms. The concept of licensing third party platforms has led to an exponential rise in the number of brokers that offer their trading services through these interfaces. Forex trading began as a relatively unregulated market that allowed dotbig contacts several companies to take advantage of unsuspecting traders. Until quite recently, it was incredibly difficult to find the best FX brokers from the overwhelming majority of companies that offered their services from different parts of the world. The lack of any serious regulatory oversight and the inability of traders to determine the quality of a Forex broker prevented investors from exercising due diligence while choosing a Forex trading company. Forex trading includes trading the markets by providing a buy side and a sell side on a single currency pair, commodity, CFD, or ETF.

Researching Tools

Accepting those, one agrees to fulfill the responsibilities stated. You are always welcome to contact us at if you have any questions or hesitations.

The broker provides comfortable conditions for both beginners and experienced investors. The company’s clients can take advantage of a broad base of training materials, https://www.tdameritrade.com/investment-products/forex-trading.html as well as receive professional analytics on a daily basis. If you’re a profitable short-term trader, go with an ECN broker as you’ll save more on transaction costs.

Deposit and withdrawal of funds

When I made additional deposit of 195USD and made a profit until my account grew to 532.35USD, my withdrawal status has been “in process” for more than 3 business days already. When I tried to inquire with customer support, they told me that my account is under review/validation as it was in the terms and conditions but cannot provide how may days it will take until it’s done. Forex trading is different from other products such as binary options trading or spread betting. Binary options brokers usually provide a remarkable bonus system to entice traders into making a massive deposit.

honest forex broker employment reviews

Our HF Markets review experts also discovered that this broker is perfect for beginners, as they offer a demo account with a good fund count. You can use the demo account for however long you wish to practice trading in real market conditions. The demo account comes with a virtual balance of up to $100,000. Alternatively, you can open a zero spread account with a minimum deposit of $200 Whilst copy trading accounts require a minimum of $300.

How to start your Forex.com account?

Examples of more “hidden” fees worth looking into include such fee types as overnight financing charges on open trades, otherwise known as swaps, which are charged by every Forex / CFD brokerage I have ever seen. If you will be keeping positions open regularly past 5pm New York time, you will probably https://www.indeed.com/cmp/Dotbig-Ltd be charged a small fee based upon an interest rate and the size of your open trade. Unfortunately, these fees fluctuate in line with money markets so they can be difficult to assess, but you can compare the rates charged on the same day by different brokers and see which one offers a better deal.


I don’t publicly discuss brokers because in this day and age, we have no idea what goes on behind the scenes. But if they don’t, close your account and take your business elsewhere. An ECN (a non-dealing desk broker) does is it legit dotbig NOT take the opposite side of the client’s trade. You’ve probably heard of the different types of Forex brokers like ECN, market maker, and STP. Because the trading platform might be down and you’ve got orders to manage.

Forex.com trading fees

IG also offers US Forex traders a range of third-party Forex trading platforms including the popular MetaTrader , Progressive web app, ProRealTime, and L2 Dealer . IF you choose the MT4 platform through IG, you will have access to a suite of IG’s own custom https://www.indeed.com/cmp/Dotbig-Ltd MT4 add-ons as well as the standard indicators. There are a lot of forex brokers that allow for low-to-zero minimum deposits which can be a great option for traders with limited funds; many brokers also charge very low transactional fees and spreads.

If you are looking for a good broker, I recommend checking out my review of tastyworks. But I really hope that this will help others understand the shadiness of IQ Option. Like I said before, regulations are one of the most important aspects of a broker.

Leave a Comment

Your email address will not be published. Required fields are marked *