Is it illegal to use non-registered Forex broker?

There are stupid people who think other people are stupid.

 

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

 

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

 

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.

 

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

 

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.

 

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

 

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

 

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 .

 

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.