If you re considering switching to a new forex broker, it s important to find out the pros and cons of Forex Peace Army before you commit. These brokers typically offer lower leverage ratios and a per-trade fee, but there are a few things to watch out for. For example, some brokers may change their liquidity providers, which could affect your trade execution. Before committing to a Forex Peace Army trading account, read reviews from other users to find out what they thought of the broker.
One of the FPA s members, Pharaoh, created a comprehensive guide on selecting the right broker. Based on his own trading experience, he made a list of tips that will help you choose the best broker for your needs. Another helpful folder in the FPA is the Scam Alerts Folder, which contains a list of brokers who are notorious for scams. Another important folder is the Resolved Issues Folder, which lists problems a broker has encountered. Even the best brokers sometimes run into problems. Knowing how a forex broker will handle issues can help you avoid scams and ripoffs.
Regulations vary by country. In the US, forex brokers must maintain their accounts in US or money-center countries. Nevertheless, more countries are following similar paths. Off-shore options, on the other hand, carry additional risks. While the United States regulations are generally more stringent, there s no guarantee that these brokers will be as good as they say. In the meantime, the regulations of some countries are better than others.
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