To trade Forex, an investor must first open a trading account with a Forex broker.To get more news about cgse regulated forex brokers, you can visit wikifx.com official website.

The broker in Forex is an intermediary that offers access to the currency market to private traders. His role is instrumental in facilitating trading, as he connects currency purchasers and sellers. It earns its income through commissions or spreads on trades.

There are many online Forex brokers, each with its own rules and peculiarities.Once an account is opened, the trader can access a trading platform where he can trade currencies.  The Forex market is one of the largest and most liquid in the world, with daily trading volume exceeding $6 trillion. It goes without saying that to seize the opportunities in such a market, one must also know how to recognize possible forex scams.

That is why it is important to choose the right Forex broker.Most Forex brokers also offer customer support services and a variety of trading tools, including risk management tools, automated trading services, beginner courses …

Forex brokers are regulated by financial regulators such as Consob, in Italy; SEC (Securities and Exchange Commission), in the US; AMF (Financial Market Authority), in France; FCA (Financial Conduct Authority), in England; and CySEC (Cyprus Securities and Exchange Commission), in Cyprus.

All regulators require specific requirements that Forex brokers must meet in order to be licensed to provide financial services. Not all brokers operate online; traditional brokers, which can be defined as “offline”, are generally independent brokers offering trading services. The presence of so many brokers on the market from which to choose results in the risk of turning to a less-than-serious one, so one should take time to conduct checks aimed at finding reliable Forex brokers before putting one’s money in the hands of strangers.

The graphic location should be at the bottom of the page, and the number should be accompanied by the logo of the regulatory authority that issued it.

Step Two: Once you have retrieved the license number, you can counter-check it on the regulator’s website and see if it appears.

Obviously, the broker may report to a company with a different name, which is what will appear on the Authority’s site, but they should be easily associated.

Step three: If the broker is real, a plausible address will be found. To verify that the addresses are credible, you can check them through online maps. In case, one comes across unlikely locations probably the trader will also be unreliable.

If the broker’s head office is located in a non-European country with no legislative constraints governing the Forex industry, this will result in the inability to file an international lawsuit if the broker engages in unethical behavior.

Conversely, if your forex broker’s office is located in a country with well-articulated financial regulation, this can often help you recover funds in the event of a problem.

Fourth step: look up the broker’s name on a search engine to make sure it doesn’t have too many negative reviews (a few may fit, you can’t please everyone, but the type of allegation should still set off alarm bells).

False positive or negative reviews are commonplace, unfortunately, but if you find a huge number of comments complaining about difficulties in withdrawing funds or clearly pointing out improprieties on the part of the forex broker you want to invest in, you’d better change brokers.