Are unregulated Forex trading brokers any good?
Trading with Forex brokers who are unregulated opens you up to a higher chance of fraud or monetary loss. Forex regulators are constantly monitoring the exchanges they oversee for fraudulent and high-risk practices. These regulators also can compensate investors in case of monetary loss if the broker goes out of business. Furthermore, being regulated shows that the broker is serious about your financial and personal information and willing to abide by the laws designed for regulated to keep you safe. So, even if an unregulated broker has sterling reviews, there are still very good reasons to avoid it or at least accept that you take some risk. A common case is a well known broker to have also an unregulated entity to offer to clients higher leverages, deposit bonus and other promotional perks that are not allowed in various jurisdictions