Forex Trading  One Of The Most Promising Investment Opportunities - Copy
                     

• Forex trading is one of the most promising investment opportunities around the globe today. The forex 
market is one of the largest financial markets by volume of over $7 trillion being traded per day, which 
makes the market highly liquid. 
• Another advantage is that it has no geographic boundaries and any party can participate as long as they 
find a forex broker that allows them to trade.
• Nevertheless, not all that glitters is gold. The English men also said that when the deal is too good think 
twice. And this applies in the forex market
• Due to its glamour and lucrativeness, scammers have flocked the internet in the name of forex brokers and 
it has become difficult to distinguish legit forex brokers from forex brokers that are just scam looking to 
pawn on malleable forex investors.
• But how do you get off the hock? How do you navigate the treacherous waters to find a legit forex broker?
• We are going to go through some tips to help you in identifying genuine forex brokers.
Tips of identifying legit forex brokers
• Look for the regulation
• There are regulatory authorities in different countries that are mandated with ensuring that financial 
market institutions like forex brokers operate in a manner that is safe for investors.
•  In short, the regulatory authorities keep the brokers in check to ensure they do not indulge in 
fraudulent activities.
• Before going looking for forex brokers, first, familiarize yourself with the financial regulatory authority 
in your country or region so that to be sure what to look for in the broker’s website. 
• In some cases, some brokers may not be directly regulated by a regulatory authority in your country but 
they should be registered with at least one of the top-tier regulatory authorities.
Some of the worlds recognized regulatory authorities in Forex include:
• the Commodities Futures Trade Commission (CFTC) of USA,
• the National Futures Association (NFA) of USA,
• Financial Conduct Authority (FCA) of the UK,
• the Swiss Financial Market Supervisory Authority (‘FINMA’),
• the CySEC (Cyprus Securities and Exchange Commission), and
• the Australian Securities and Investment Commission (ASIC).
• It is an added advantage if the broker is also regulated by the forex regulatory body in your country 
since it makes it easy for you to just walk to the headquarters of the regulatory authority and table your 
grievances with the broker. In some countries like India, the central bank is the apex foreign exchange 
regulatory authority.
• For instance in India, it is illegal to trade non-INR Forex pairs according to the FEMA act; if you are from 
India, your forex broker must have the INR forex pairs like USDINR, EURINR, GBPINR, and JPYINR for 
you to trade.
• Look at other traders’ reviews about the broker
• You should search for as many reviews about the broker online and go through as many as possible to 
determine if there are any issues that the traders have had with the broker and if anyhow the broker 
handled it.
• The reviews will also give you a glimpse of how it feels to trade with the broker. You get to understand 
what the broker does excellently, well, bad and even terribly; and it makes you prepared psychologically.
• You want to trade with a reputable broker.
•  Look for a demo account
• Demo accounts are very important tools since they enable you to feel what it is like to open a real 
account with the broker. It gives you a chance to understand the brokers trading platform before 
investing your hard-earned money with them.
• Legit brokers are never in a hurry for your money. So they give you all the time you need to prove you 
are comfortable to trade with them.
• Still, trying to find out a better forex broker? We can recommend Forex4You broker to get you started.
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