Dear Admin,
1. Is FBS worth investing in for me?
2. What is the ideal spread between bid and ask in a forex trade?
3. Is a 100 pip spread between bid and ask ideal?
4. For Asia, which sites can be trusted/good?
Thank you.
5. Which ones can be trusted in Indonesia?
Regards
@ Mahmud:
1. For investment purposes, it is feasible, because it is based on assets in the financial markets, and in accordance with the regulations in trading in the financial markets. But in terms of fund security, we cannot guarantee it will be safe.
In terms of regulation, FBS is regulated by IFSC or the International Financial Services Commission of Belize and the Russian Financial Technology Regulation Center, CRFIN. In terms of the credibility of these two regulators, they are still more credible than CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA, which have been internationally recognized. The profile can be read here.
A credible regulatory body is one that has been tested and internationally recognized, and imposes strict sanctions on brokers if they violate agreed-upon provisions. The regulatory body is also responsible for the security of client funds.
In addition, the deposit method can use third-party services such as e-currency companies (Webmoney, etc.), and also via transfers through local banks. If the e-currency company is a scam or goes bankrupt, your funds are likely to be lost because there is no legal entity that guarantees it. Even if you use a wire transfer (not using the services of an e-currency company), the broker's cooperation with the e-currency company should be questioned.
In terms of security, if you are interested in trading with the broker, it is better to split your funds to other brokers that are already regulated by credible regulators (CFTC, NFA, FCA, etc.).
2. There is no standard or fixed provision, and there is no ideal measure. Spreads between brokers are always competitive, so it depends on the markets offered. For popular pairs such as EUR/USD, the market is currently between 0.5 pips to 2.0 pips (in 5 digits: between 5 to 20).
3. Perhaps you mean the 5 digits. 100 means 10.0 pips, or 10 pips. For popular pairs, 10 pips is relatively high. For cross and exotic currency pairs (such as USD/MXN, USD/TRY, etc.) it is still possible, even more.
In certain circumstances, the spread can widen, especially during the release of high-impact data or speeches / press conferences by central bank officials.
If for 100 pips in the sense of 4 digits, then it is clearly too high.
4. Do you mean a site for market information? Or a broker site?
For market information and analysis, as far as I know, all sites are trustworthy. If it's a lie, the readers will certainly leave. Regarding how good it is, that is subjective. As long as the information you want can be obtained, it can be considered good.
For brokers, as in the description in point 1. above, it depends on the regulation. If it has been regulated by a credible regulatory body, it can certainly be trusted.
5. For market information and analysis sites, the website is trustworthy.
For local brokers, we no comment.