Alpari and tickmill demo contest

Alpari broker
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Didik Purwanto
01 Aug 2017, 23:53 1,840 Views
Sorry, I want to ask sir...I am a beginner...really want to learn about forex trading in particular.
Until now I have been continuously using a free demo contest account...my question is, is it true that if you win the contest, you can actually withdraw the money...??
I am interested in opening a real account with ALPARI or TICKMILL...are these 2 brokers safe...if your suggestion is safe, what have you been using all this time...thank you.

1 Answer

M
martin 03 Aug 2017, 03:51

@ Didik Purwanto:

- Regarding the contest, it depends on the broker's terms. If it's possible to withdraw, the funds will usually be credited to our trading account. Some can also be withdrawn in cash, such as in the 1 million Dollar World Forex Championship held by broker XM.

- Regarding Alpari and Tickmill, it's still safe if the funds are not large. Alpari is not regulated by a credible regulatory body while Tickmill is regulated by the FCA UK, but for deposits and withdrawals, you can use third-party services such as Fasapay.
As far as I know, Alpari is currently regulated by IFSC Belize. For a more complete review, also read: Alpari Broker Profile.

For the security of your trading and funds, 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 terms. The regulatory body is also responsible for the security of client funds.

You can see the list of brokers that are members of a regulatory body directly on their website, such as the list of brokers listed in the CFTC can be seen on the CFTC website, and also for other regulatory bodies.
By trading with these regulated brokers, if there is a problem with the broker, or the broker is caught cheating, you can report it to the regulatory body (of course with sufficient valid evidence).

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