Contract size and broker security

Choosing a Broker
24 Mar 2021, 11:32 750 Views
The gold pairs provided by my broker are 2 types, spot gold with a contract size of 100 ounces and XAU/USD with a contract size of 500 Troyonz. My broker is from Instaforex. Is it safe, providing 2 pairs with different contract sizes? Especially with a contract size of 500 Troyonz? And isn't Instaforex one of the brokers recommended by Seputar Forex?

2 Answer

M
martin 24 Mar 2021, 21:58

@ Juwita Sari:

- For gold (XAU/USD) contract size, the common contract size for 1 lot is 100 troy ounces (or about 3.1 kg). If the broker offers 2 contract sizes, please choose one of them. We recommend using the common contract size only.

- Regarding security in trading, we recommend choosing a broker that is already regulated by a credible international regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA.

A credible regulatory body is one that has been tested and internationally recognized, and provides strict sanctions to brokers if they violate agreed-upon terms. The regulatory body is also responsible for the security of client funds.

Regarding InstaForex broker, please read: InstaForex Broker Profile and Review

M
Mulyono Poniman 26 Mar 2021, 21:54
@Juwita Sari
Perhaps you saw the ads that appear on this website.
Starpeaktrade accepts ads from anywhere, but that doesn't mean ads for brokers are recommendations.
You should look for a credible broker.

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