Is your broker really regulated? Watch out for ghost licenses

To those who defend brokers without real regulation: are you going to pay the customer when the company disappears with their money? Because that’s what happens. It’s not paranoia.

Newbie traders see a nice platform and low spreads and they already think they're on Wall Street. Then come the crying.

Useful thread. Most people don’t review the broker’s domain. There are almost exact copies of famous pages.

Once I opened account with one that had Caribbean regulation and WhatsApp support. A week they no longer answered me.

The serious regulator is the one that has: continuous supervision, complaints system and compensation fund. If you don’t have that, it’s wet paper.

I have worked for a broker and confirm you: many times the regulated logo is put by the graphic designer. So sad.

And what about the IBs that send you to ghost brokers?

Totally. There are IBs who live on commissions and send people anywhere to get their cut. They never ask if the broker is safe or if the funds are segregated.

It's about time for a clear talk about the financial chiringuitos camouflaged from brokers.

This forum should have a black list of brokers, just like some regulators. It would be very helpful for the new ones.