I use FP markets and fxview too, they are actually under a lot of different financial authorities, like fxview is even regulated by fca and fpmarkets by asic. Both are strong authorities which gives a sort of an extra protection cover.
How safe is your money and shares at a reputable broker?
- Thread starter john7722
- Start date
That goes without saying
No it's not, simply stating the rule! Check this out: https://www.cysec.gov.cy/en-GB/complaints/tae/information/
Sorry I think you maybe suffering from a translation issue. Protecting only 20k euros worth of an account is pitifully little. SIPC protection in the U.S. is $500k, for example. So yes, 20k in "protection" is a joke. Using the definition of the word "joke" as "something not to be taken seriously" rather than the definition you appear to be using of "something said or done to provoke laughter".
even the 20k is not work...almost everyone who trade FX know ironfx scam...no one get the 20k money~
From our part what we can do is use only a regulated broker. That way at least the brokers are under supervision and are bound to follow certain rules. Ya I know rules can be broken but it has consequences. Another thing very importantly what should be done is that the money should be split between different brokers. That way even if one goes rogue not all the money will be gone in the wind. The brokers I use are all cysec regulated and I never keep more than 20k with 1, so even if the brokers go bankrupt or do some fraud, I am liable to be compensated. At the moment I am using Fxview, BDSwiss and FP Markets. These are all established names which are regulated by many other financial bodies also. That’s the best we can do from our end to keep our money safe and try to sleep well in the night.