Is it illegal to use non-registered Forex broker?

[wmwmw]

There are stupid people who think other people are stupid.

 

[Abbas Ali Khan]

the best broker is a broker which always make sure security of funds with a wide range of trading technologies.

 

[FahadMd]

some country banned Forex in their own platform , this is just stupid thing , nothing without it.

 

[HeavLeighGill]

I'm in the US and had a hard time finding a broker because of the stricter regulation so I went offshore. Technically this is riskier in the case that you might choose a scammer or if the broker closes you could lose your money, but you can do thorough research to make sure you go with an honest company that's been around for a while. Never go for one that's only been opened a couple months. It would definitely be stupid to open an account with any offshore broker but there are also perks like typically higher leverage, and so on.

 

[Ahmed Solaiman]

honestly speaking i dont believe the broker regulation, so many regulated brokers i have seen who cheated more and moor with their clients.

 

[Adler]

Certain countries ban forex trading, but you can still trade with offshore accounts, but it is better to do research on the brokers before investing in it.

 

[Ahmed Solaiman]

the broker can affects the result of your trading with certainly , so really when choosing a broker we traders should more carefully.

 

[Marcos]

It ain't illegal but why to take that risk when you got regulated forex brokers.

 

[wmwmw]

Because regulated brokers charges 6 times higher spread than offshore brokers and they offer no protection for your fund if they go broke.
The 6 times higher trading cost means if you daytrading with a regulated brokers for one year, your accumulated trading cost will be more than your entire capital .

 

[PeterNguyen]

it not illegal but i suggest you find a regulated broker to protect yourself from scams. Choosing good broker is always important as starting point of your trading journey.