Is it illegal to use non-registered Forex broker?

[Rodri]

It is not illegal to use a non-registered broker, but they are not safe and most turn out to be scammers. A regulated broker is under a govt body which provides safety of funds and fraud protection.

 

[PeterNguyen]

Pick a regulated broker with license from ASIC/FCA/Cysec so you know your money is save and use only for your trading. Anyone that offer guarantee profit is a scam brokers.

 

[S.Luke]

It is not illegal to use a non-registered broker, but it is not safe since they can be scammers that lure in new traders with bonus offers.

Using a regulated broker can give a trader the benefit of trading without being worried about the invested capital.

 

[LiamMason]

No, using a non-registered forex broker can only bring risk, and most non-registered brokers are scammers. It is safer to use a regulated broker such as CMC or FP markets.

 

[PeterNguyen]

non-regulated brokers are just trading scams so unless you want to loose all your money, you should never trade with unregulated one.

 

[JimmyChoo]

before choosing a broker it is more appropriate to make sure FPA where traders give their own reviews.

 

[Svetlana Loboda]

its a very complicated question to answer , because there are almost thousands brokers in online and most of them are found to be scams.

 

[Henry520]

there are almost thousands brokers in online and most of them are found to be scams . so choosing a broker is really important task.

 

[Ahmed Solaiman]

you can choose your brokers from various sources but before choosing any broker please make sure its own review. otherwise, the result could be the worst part.