It’s normal for every nation’s government to discipline businesses in their regions, and forex is included. Several regulations were put in place to grant operational permits for companies that passed the screening of the regulation. Therefore, trusted brokers are licensed, so they can gain trust both from users and government officials. This regulated status can be found on the website of the broker and the website of the regulatory body in each country. On the other hand, if you are confident enough to trade on your own, we suggest you try trading view indicators to maximize trading efficiency and avoid most risks.
Then, the broker’s background can be checked from two things, namely the office address and the history of the company it owns. Since forex has now become an online business, it is very easy to ignore the presence or absence of a physical office as long as there is a site that looks attractive and good. The existence of this office location is important to have so you can ascertain whether the broker of your choice is bona fide or not. Also, many unregulated brokers try to convince you by saying that they are new and in the process of obtaining a license through a regulatory body. Unlicensed brokers are of course not allowed to operate by the government. On the other hand, scammers often only operate for 1-2 years before they go out of business.
Furthermore, the broker’s reputation needs to be considered too. Nowadays, people are free to use excessive and seductive marketing strategies to lure customers. But what you need to pay attention to, not all bonuses or promotions offered by you can be received raw. Even the best and most trusted forex brokers will not over-offer promotions or bonuses. They also will not promise fixed profits of up to tens or even hundreds of percent per year that can be obtained instantly. Please note, the reputation of a good broker is characterized by a trading platform that is smoothly used, fast trade execution and free of requotes, and a wide selection of trading assets (instruments).