ABC FOREX ALL YOU NEED TO KNOW (SAFETY OF FUNDS)

SAFETY OF FUNDS

For me as a professional I look first for the safety of my funds. Look at the best banks in the world especially after the financial crisis of 2008. UBS, LEMAN BROTHERS, also in 2005 the fall of the biggest Futures brokers in the world REFCO. They all had problems and some of them went bankrupt. This is to say that you have to choose a good REGULATED broker, NOT A BVI BROKER but more an EU regulated broker or UK or US. Switzerland is now under restructuration with the FINMA and all brokers have been forced to apply for a banking license but the few brokers that applied are under the EU, UK, and US jurisdiction illegal brokers since they are not regulated yet. As they say, they are in pending regulation, which means if one of these brokers goes insolvent the customers will not have any help or indemnity.

The top regulated Brokers I am currently working with are:

EU: www.tadawulfx.com
UK: www.gnitouch.com

The EU and UK regulated brokers have a guarantee for their retail customers. As you may know TDFX is under the umbrella of MIFID. This means that all their retails categorised customers have they accounts guaranteed in case of insolvency. The indemnity the customer will get is a maximum of 20'000.00 EUR. This is called, compensation fund. GNI TOUCH has the same regulation since FSA Licensed companies are also under MIFID.

Conclusion: Always work with respected brokers with good reputation and the most important good regulations. Save your Time, Time is money.