Only regulation is enough – True/False
This question is especially for newbies, as it’s too common for them to ask which broker to pick, so that’s why it is vital that we ask this question and get clear idea. I like people to put down their views in specific True or False way. I believe regulation is just ONE part, so we have to look at much more important things like where it’s regulated from and also other important parts. I go with OctaFX who are regulated by FCA and have great reputation, so working with such company is always pleasant.
Incorrect, as I don’t think you will be able to judge a broker just by its regulation. We got to look at all angles, as only then we will be able to find the right broker. I did join brokers that claimed that they were regulated but only scammed me like Nova FX which now closed down.
I think it is not corect that only regulation is necessary to choose a broker. We should check all angels of selecting a broker, like customer support, spread and leverage and what is the reputation of a broker in the market.