Broker connected to myfxbook

Trading Platform
A
Andy
27 Dec 2017, 16:06 1,677 Views
Hello admin, I have a few questions:
  • What are the safe overseas brokers that allow deposit/withdrawal using a bank? (brokers that can also be verified on myfxbook.com)
    because previously I joined FBS but couldn't be verified on myfxbook
  • Is myfxbook a credible and trustworthy website?
thanks

1 Answer

M
martin 02 Jan 2018, 02:37

@ Andy:

1. You might mean deposits and withdrawals via wire transfer from your bank directly to the broker's bank. As far as I know, almost all brokers can accept wire transfers, but the process is relatively slow and there are additional transfer fees.

When choosing a broker, we always recommend trading with brokers that have been regulated by credible international regulatory bodies such as: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA.

Trading with these regulated brokers means that if there are problems with the broker, or the broker is found to be fraudulent, you can report it to the regulatory body with valid evidence.

You can see a list and reviews of several well-known forex brokers in Indonesia at: List of Popular Forex Brokers in Indonesia and Forex Broker Reviews. You can also see a list of brokers that are members of a regulatory body directly on their website, such as the list of brokers registered with the CFTC can be seen on the CFTC website, as well as for other regulatory bodies.

When choosing a broker, you should decide for yourself after trying it through a demo account, because the criteria for compatibility of each trader to a broker are different. Some prefer low spreads and high execution speed (for scalpers) or others like brokers that rarely requote, etc.

Regarding myfxbook:
Myfxbook.com is a forex trader community website that provides facilities for evaluating trading performance including trading results statistics and publication of your trading statements.

Myfxbook also provides autotrading facilities through registered brokers (in cooperation with myfxbook) with the trading system you choose to be automatically copied to your trading account. For this, your trading account must be connected to myfxbook. A list of brokers on myfxbook can be seen here.

2. Yes, as far as I know it is credible and has quite a lot of users from all over the world. However, myfxbook.com is only a facility provider, to choose a credible (not lying) signal provider, traders must be discerning. Read: 10 Characteristics of a Genuine and Reliable Myfxbook Account

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