In theory, choosing a foreign exchange trading platform means entrusting funds to this platform, and formal foreign exchange trading platforms have the obligation to ensure the safety of funds. Only a formal platform will allow investors to invest and pay the bill. If the platform is not formal, it will only make investors lose confidence in the formal platform, so the choice of formal platform must be supervised by authoritative regulatory agencies such as VFSC, FCA and ASIC. For example, the FXABM foreign exchange platform under the strict supervision of VFSC is a formal platform that has been strictly tested and recognized by the market.
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One of the identification criteria: whether to accept institutional supervision.
This is one of the most important criteria. To know which foreign exchange trading platform is supervised by which institution, we can know the security of this platform. This is the first condition for whether the funds are safe and whether the platform is formal. To inquire whether a foreign exchange platform is supervised by an authoritative organization, investors are advised to search and verify it on the official website of the supervisory organization, which is the most credible and effective verification method.
The second criterion: whether to divide the accounts.
Account separation refers to the separation of users' investment funds from the operating funds of foreign exchange platform vendors. In case of financial problems such as bankruptcy of foreign exchange platform brokers, users' funds will not be affected. If the host-guest accounts are not separated, then if the platform provider really goes bankrupt, then the user's funds are likely to be unrecoverable. Of course, this situation is rare for a formal platform that strictly executes orders.
The third criterion: whether to provide excellent service.
How to contact the foreign exchange platform if you need help in foreign exchange trading? Do they provide 24-hour customer service? Can I only contact you by email or direct phone? Traders are advised to find a foreign exchange platform with high customer service quality.