Canadian Forex Brokers does not take any responsibility for losses or damage that results from of the use of the information provided on this website. Forex pairs, cryptocurrency and CFDs are complex instruments that carry a chance of losing money. You must carefully assess whether you know the way these instruments function and if you are able to risk the high chance loss of your funds. will warn you that the information on this site isn’t always up-to-date nor precise. However, the good thing is there are real money prized and awards.

WesternFX broker review

It means that if you want to take advantage of this market, you’d like to trade in the direction of the trend by looking for selling opportunities. Because if you want to trade whenever you only “feel” like trading, I can almost guarantee you that you’d have inconsistent results. Your behavior on how you manage your money will reflect on how you will manage your trading portfolio. Then continue adding funds every 2-3 months as you prove yourself consistent. Four years ago, I was a losing trader because I was in an environment where I was pressured to trade.


It doesn’t make much sense that the Pro account spreads are higher than the Standard account. We use employee count data in Linkedin, which can authenticate employees. The number of employees often directly project dowmarkets the size of the company, and the size of the company also matches credibility. In addition, there was quite a lot of news that the broker is cheating customers, making FBS ranked the last in terms of reliability.

WesternFX offers the award-winning MetaTrader 5 to facilitate trading through Windows, Mac, iOS and Android platforms. Our support desk will answer all your queries related to trading and help you deploy effective trading strategies. WesternFX acts in full compliance with international legislation and regulation standards. By accessing this site, you signify your agreement with and understanding… has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations.

h Rank Broker : TICKMILL

These entities promise to trade on behalf of Forex traders and make them wealthy. While most signal sellers are honest and are backed by a genuine reputation, it’s wise to be wary when choosing one. With digitalization, currency trading took on an online avatar, where buying and selling were carried out in front of computers.

If you’d like to add a company to the Crypto scammers list or to report a scam go here. To add a company to the Crypto scam list or to report a scam go here. This review is based on my own experience and is my genuine opinion. Remember, you have a stop loss because you can never predict where the market will go and you want limit to your losses. Your first option is to wait for the price to close below the area of resistance before you enter the trade.

Traders should not focus on the size of the broker but focus on the quality of the trading environment. FX Wonders is an online trading broker based in Saint Vincent and the Grenadines. FX Wonders is one of those anonymous, shady brokers that haven’t listed who stands behind the entire operation. That’s why we marked it as the first red flag, one of many on the list. All we see is some dubious address from Saint Vincent and the Grenadines. This exact address was used by scam brokers, including CCXMarkets, HonorFX, WesternFX, and many more.

Trading with no delay, open-close orders quickly, and smooth adjustment of Take Profit and Stop loss points. The company does not have any promotional services at this time. Customers can keep track of new promotions on the main website.


It is highly recommended that you read them, open a demo account with several different Forex brokers, and only then begin trading the Forex market. Our readers can immediately determine the most critical factors when determining the best trading platform or forex broker for any particular day. Every registered user can vote up to three times within 24 hours “for” or against any broker. If you are not interested in the above-listed features, you may consider contacting your local bank or joining a currency futures exchange (e.g., the IntercontinentalExchange). However, their requirements to customers are usually much stricter than those of online Forex brokers.

Several Forex traders fall into the trap of unscrupulous agencies who claim to offer trading accounts with flexible bonuses, high leverage and other benefits. A few signs that should signal you of a scam are when the broker doesn’t allow instant withdrawals or when there are persistent problems within the trading station. A Forex broker connects traders to the Forex market and enables trading. Forex brokers either fill orders internally or pass them on. They connect with liquidity providers in an automated process which includes human oversight. Visitors to our site receive everything Forex Tools needed, so they aren’t required to look for them on other sites.

CFD Scams

The key to getting the best returns in any strategy boils down the math. While Forex trading in India, Traders need to identify the best outcomes based on their position sizes and risk-reward ratios before they execute a trade. Experts tips and guidance on online share trading, CFD trading, and choosing the trading platforms as well. You must know which markets to trade, why you should trade them, and how to apply risk management.

WesternFX broker review

While a Forex broker can theoretically steal your money, it is unlikely to happen, especially with well-regulated brokers. Some market maker brokers may engage in stop-loss hunting, an indirect method to drain money from trading accounts. You can rest assured that the broker reviews listed below were conducted with the utmost level of professionalism and objectivity.

Account management page on the website (back-of-house system) is easy to use, with complete tools, easy to find, and not cluttered. After applying for an account opening, there will be staff calling to assist customers. Website and account management system is simple but effective.

Retail foreign exchange trading is not possible without a Forex brokerage. A good broker provides a trading platform, accepts deposits and processes withdrawals, provides leverage, and promptly executes trading orders. Sometimes, FX brokerage companies would also offer education, bonuses, trade copying, and other resources and tools. Your Forex broker, the one whom you trusted with your money, could be the one slowly working against you.

What Can Help You Win a Forex Contest?

The more currency you command, and the higher the leverage you use, the greater the yield. But there’s also elevated risk implanted into it that might cause you to lose money if you end up on the wrong side of the Forex exchange. Keep an eye out for Forex trading scams in India and you’ll be able to make your way through the FX market a lot easier. It’s always advisable to choose the right broker, that’s fully regulated and is trusted by traders. You can’t go wrong with choosing WesternFX, Asia’s award-winning Forex broker.

Can you get scammed on Metatrader 5?

California investor involved in elaborate scam on Metatrader 5 platform. The California Department of Financial Protection and Innovation (DFPI) has received a complaint from a California resident regarding online fraud involving cryptocurrency.

Customers’ funds are deposited in world-class banks such as Bank of America and Barclays, which are securely managed. Choosing to trade with a reliable broker makes us confident that the brokers will not cheat, close down, vanish, but rather trading styles build confidence in trading. Customers do not have to worry about other things and focus purely on trading. Our team has studied information, tested brokers on various aspects, so as to obtain the highest quality information for traders.

Our interactive system makes up an essential component of our ever-changing online platform. Canada may not be famous as a country of origin for the biggest Forex brokers, but, nevertheless, it is a chosen location for offices of some foreign exchange companies. Strict regulatory environment makes Canada an attractive jurisdiction to brokers that value safety of funds and reduced risks for traders. Here you will find a list of brokers that either chose to open an office in this country, were founded here, or are regulated or registered with IIROC, FINTRAC, or OBSI. Canadian Forex brokers are open to residents of almost every country in the world. We are committed to empowering our traders, offering the best trading experience.

Have a Repeatable Trading Process That Makes Trading Effortless

Western FX offers trading of currencies, indices, CFDs, and commodities. Western FX is regulated by the SVG FSA (St. Vincent and the Grenadines). Although, it’s risk-free trading, you need to know all important things before participate. In order to take part in a trading contest, you need a demo account with the offered broker.

Compare that with your trading account setup on desktop/laptop and you’ll know why size matters. Everything; right from the charts to other vital indicators, must shrink down onto this limited space or be eliminated entirely. These limitations may adversely impact trading on the forex trading market in India. Signal sellers are usually a retail firm, a managed account company or even an individual trader.

Additional Licenses of Trading Point of Financial Instruments Ltd

Standard account is recommended due to its lower deposit than ECN accounts and total fees (the spread+Commision) are as low as an ECN account. Land-FX is ranked first on the best trading experience for traders. A broker from the British Isles, holding two licenses, FSA and FCA.

You will get better and faster service from a local company. You would like to have hundreds of currency pairs and CFDs at your disposal. Account page (back-of-house system) is easy to use, with complete tools, easy to find, not cluttered, fastest trading since testing.

When trading stocks, CFDs, or other derivatives, consider whether you understand the function of differential contracts and be aware of the high risk of losing your funds. Are normally considered and compared by Forex traders, although less often than Top visited brokers. “Top visited” does not automatically mean “Most popular choice” among Forex traders. These brokers are definitely most searched for and compared to, but not necessarily become traders’ final choice. You believe that the Canadian FX regulatory laws would mean better protection of your rights as a currency trader. Land-FX’s popularity among global traders is relatively low, especially on social media, which performs worse when compared to other brokers.

Forex trading without a broker is theoretically possible but so expensive and inefficient as to be a complete waste of time. Such options include banks, exchange offices, and peer-to-peer iq forex broker review exchanges. False brokers don’t choose means and tools to defraud their clients. However, everything starts with your application on some video you see on social media.

Early Forex trading scams stemmed from manipulation of bid/ask spreads on the computers. Instead of providing the normal spread, the spreads provided differed between brokers. The higher the spread displayed for a currency pair, the more commission brokers make, thus eating into any profits made.