When it comes to foreign exchange (FX), automated trading, and copy trading, cTrader is rapidly heading to the front of the pack. However, how do you identify reputable cTrader brokers from the many that have sprung up throughout the world in recent years?
A good place to start is choosing a cTrader broker which is regulated. Here, we list the reasons why you should choose a regulated cTrader broker.
Improved customer support
While it’s important for any broker to prioritise their customers, licenced cTrader brokers have a greater incentive to keep their customers pleased.
Financial regulation provides a forum for customer feedback and assists in mediating conflicts between clients and regulated brokers. As a result, regulated brokers aim to give excellent service to their clients.
In the fast-paced world of forex trading, not having access to responsive customer service representatives can be costly.
One way to guarantee a more pleasant trading experience is to work with a broker that is regulated and offers customer service during trading hours around the clock.
Transparent trading conditions
Your broker’s transparency should be a top priority. This includes providing a detailed breakdown of all fees associated with making transactions, including commissions and spreads.
This also includes being honest with the relevant regulatory body, about trading details like the margins and leverage offered to customers.
In addition to cTrader brokers’ operations being open to public scrutiny, the client can also learn about the broker’s financial dealings. If it is regulated, you may rest assured that all of their promises and offerings are honest and, more significantly, not deceptive to potential customers and traders.
Lawful broker dealings
In order for regulated brokers to operate in the financial markets, they must present a list of their personnel and their qualifications, including proof that they have experience in the money markets.
There will also be a requirement for brokers to disclose the types of Forex, futures, stocks, and options they sell to customers.
Brokers who want to stay in compliance with the rules must keep accurate records and employ rigorous accounting methods to separate their own funds from their customers’.
In addition to keeping client funds separate and secure, this indicates that the business is well-established and able to meet customer needs. Customers’ faith is bolstered since they know their orders will be fulfilled accurately and they may continue dealing as usual.
Security of funds
One of the conditions of being a licenced and regulated Forex broker is maintaining customer funds in segregated accounts.
This helps guarantee that investors can get their money out of a broker if they run into trouble without risking losing it.
At any time, and without penalty, investors can get their money out.
As part of the rules, regulated brokers will be required to retain their segregated money in a separate accounting system. This aids in keeping track of the money and ensuring that customers get their money back quickly in the event of a liquidation.
