With so many forex Brokers to chose from, looking at No Nonsense Forex its almost impossible to find the right broker. Brokers tend to shift prices and close trades giving lame excuses such as stop loss hit, when it doesnt even reach the level. In fact most broker dealing rooms have a Profit and Loss Target daily, shifting prices against the clients in order to make more profit to the broker other than the contract they have set with their liquidity providers. FxPremiere Group works closely with regualoted brokers to minimise these issues when referring clients.
There should be NO DEALING ROOMS WHATSOEVER. As the price given from liquidity providers are set in place automatically on the trading platforms of the brokers. Nevertheless the corrupt state of the brokers can move this price, at times it will show as a REQUOTE on your broker side when trying to execute a trade.
So what do you do to find a Legitimate Forex Broker that will not mess around with your prices. You ask FxPremiere. We have setup a comparison chart for many brokers. This way you can see the spreads on the currencies per broker. Also the fact that the brokers are all regulated and all have segregated accounts. No Nonsense Forex read no further :)
Trading Forex Signals also carries a weight in terms of risk with no nosense forex brokers. With Signals you will need to set Stop Losses and Take Profit Levels in order to set your Risk to reward ratio. As per our Signals that are strictly informationsl purpose signals that can be used on a live forex account at your own risk ofcourse. We aim to set signals that will work regardless of shifting prices. So for example if we set a signal to aim for 50 pips profit. If the broker does shift it, you may still earn 35 pips as the target is big. Hence why scalpers dont really work anymore.
FX Trading has never been easy. So its crucial to know what you need in order to succeed in forex trading. The FxPremiere Group was established in 2010 to help onlookers when trading the forex market excel and learn How to trade forex. Hence why our no nonsense forex explanation is easy to read and understand.
With Brokers popping up every day around the world, the majority reside in Cyprus and Malta. Why is this? Let me explain , both Cyprus and Malta financial services known as CySeC give a forex broker 1 YEAR to implement the licence but to allow trading from DAY 1. That allows all the corrupt brokers to come in play with prices and shifting of prices, including taking clients funds and disapearing. All due to the fact that that 1 year is their GAP TO DO SO.
REASONS WHY THEY ARE BASED IN CYPRUS OR MALTA
1 – 1 year implementation of CySEC. Therefore extreme corrupt brokers have 1 year to cheat clients
2 – Low Corporation Tax – This is reasonable
This news is alarming and extremely unprofessional when knowing there are active forex brokers . In the UK, the licencing FCA does not allow a broker to be ACTIVE unless they have the FCA licence from DAY 1. This way its almost impossible to cheat clients. This is great news for anyone opening a Forex Broker Account that has a FCA licence.
Our recent research of Forex Brokers in Cyprus and Malta have seen the following:
Malta – 111 Forex Brokers – 57 Licenced
Cyprus – 257 Forex brokers – 134 Licenced
So i come to a conclusion to see that there are not only the brokers that are not Licenced but those active without a licence completely!. Our Compare Forex Broker charts you will see Brokers only Licenced and regulated. We as FxPremiere Group only refer regulated and licenced brokers as affiliates in order to follow strict Law guidelines. So if your looking to Open a Forex Account today with one of the Top Brokers – OPEN FOREX ACCOUNT NOW
The best thing you can do is start trading in a low risk way and slowly build up your account value as you learn.