First, it is worthwhile to understand that the phrase legal Forex broker means a number of important criteria, which together form a general idea of ​​the broker. Let's consider all of them:

No 1. Don’t listen to the affiliate marketers on here looking to bring in volume on behalf of their links? This will often be a conflict of interest as they will get paid if you sign up through their link.

No2. Regulation is key, but good regulation is more important. Look for brokers regulated by the FCA, FINRA, Swiss regulation their compliance is to a higher standard than others….don’t go for Caribbean regulators or offshore nation regulators. If you have a doubt feel free to send me links.

No.3 Don’t listen to social media, advertising as one person says on here, a high social media presence is often a sign of a heavily marketed but unregulated white label broker.

No.4 always look At the bottom of their website this will indicate who regulates the brokerage. Once you have checked this, they will have a number, you can double-check whether this is correct on the relevant regulator's website. On some regulators, you can also check which brokerages have had fines and for how much.

No.5 Forex brokerage comparison websites cannot be entirely trusted, as many brokers employ people to falsely rate their brokerage.

Overall just be very careful, regulation can be a gray area and by far the most important thing in Forex trading is that you find a safe, highly regulated broker, otherwise you can be handing your money to offshore boiler rooms and you definitely will not see it again.

If anyone has doubt or is uncertain about which brokerage to use??

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