No harm, no foul

[daytrader]

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Hi guys. Just want to add my 2 cents regarding opening an account with a forex broker.  Your forex broker should at least be registered with the NFA (national futures association) or the CFTC (Commodity futures trading commision).  Why? well...

According to Investopedia, "the NFA protects investors from fraudulent futures activities. It also provides arbitration and mediation services for resolving investor complaints. Since the NFA is independent, its regulations are unbiased towards any one member."

I know that most people who will be reading this will say na "wala namang registered broker na tumatanggap ng below $100, $50, or even $25 na investment. And besides, maganda ang added bonus ng broker na ito kaya dito na muna ako." or you can also say na "ehhhh wala akong credit card eh..."  I must say that those are excellent arguments pero listen to my reasoning why I want you to research thoroughly on choosing a good broker:

Suppose you invested $25 in a non-registered broker and you happen to be the Filipino version of Warren Buffett and actually managed to grow that to $50, $100, or even $1,000. Just remember that anytime eh pwedeng i-freeze, i-hold, or i-forfeit ng mga non-registered brokers ang kinita mo and wala kang kalaban-laban kasi your broker is not regulated and monitored by any kind of organization pala.

Now, I also know naman that there are a lot of non-registered brokers there who are really honest in dealing with their clients.  All you have to do then is email your broker and ask why they have not filed an application yet, and if their reasoning is valid, then no harm, no foul.

I would also like to reiterate that I am not creating this post para manira ng forex brokers.  I am merely here to inform.  No harm, no foul.

Happy Trading.   

[Ping]

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Thanks for the heads up.


 

[shadowabel]

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exactly the reason why I plan to withdraw every week

as soon as they refuse to pay, stop trading na agad, syang kung mapaplaki mo di mo naman pala makukuha



thanks po pala

[art92881]

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OK yung info mo daytrader. I like it, I agree with you. It involves money sometimes it maybe a lot when you made money and you will not be able to withdraw it. Mahirap naman na kumita ka and then iba naman ang makikinabang, masakit.  Sometimes yung kikitain mo depends sa broker gaya nuong iba na may commission na, may spread fee pa at may swap fee pa. Sometimes yung maliit na kikitain mo nagiging loss dahil sa fees.