Asked for recommendations a few months back and got some good ones - fxview, hotforex, and pepperstone. looking good so far on the demo. will update you when I go live.
Ouch... BaFin is all about strictly business. https://www.financemagnates.com/forex/germanys-bafin-says-online-broker-maintrade-not-authorized/ Be careful if anyone is using them.
Apart from regulations and trading conditions, do you think it is important to go for brokers that have been in the industry for a long time?
To me, it’s a personal choice. When it comes to picking a broker, the reliability of a broker is not just by how long they are in industry, but also considering other aspects like deposit fees, tools, education, customer support, minimal slippage and other features ... Regulation cannot be ignored because it’s only the ultimate check for the reliability of the broker.
Traded with a broker that was not regulated... and it was probably my worst experience as they were unresponsive and delayed my withdrawals too much. Lately, I decided to shift to a regulated one and the experience has been a good one.
Ah, unregulated ones can be quite tricky since it is hard to find the source of their reliability, it is good that you're much more comfortable with regulated ones now. Hope you have a good trading journey ahead.
It is not necessary that regulation is only important. There are many other aspects to look for like their trading conditions, spreads, and other charges such as inactivity fees, withdrawals, and many more.
yeah hotforex is one of the most heavily regulated brokers out there, I guess its a good thing having regulation depending on clients region/location.