Forex brokers are one of two different types of brokers out there who offer the opportunity for speculators to trade.These brokers can sometimes be subject to scams, but they are largely regulated strongly by the NFA and the CFTC.These governing bodies are currently in the process of imposing requirements that are much more strict than they were in the past to try to avoid any scams or other types of impropriety.
Since this has been undertaken, most of the smaller brokers who might have been dishonest have left, and mostly only the safe brokers that can actually be trusted remain in the marketplace. Caution is still advised, though, because most people don’t understand how these brokers really work.
Often they take the other side of their trades and trade against their clients, which can cause problems with conflict of interest. If this issue is clearly understood then there is much less of a problem.
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