1. having a license does not represent a formal platform; This is the biggest misunderstanding, because there are different sets of licenses (applying other people's licenses), out-of-range operations (playing the edge ball, some just selling insurance and financial consulting), and non-full authority licenses (the main difference is "can't hold customers' funds"). Therefore, an effective full license must be a formal foreign exchange trading platform.

2. Market makers are not informal; The market maker license is actually the oldest and largest of all foreign exchange platforms. According to different regulatory agencies, this license has different requirements. Market maker license means: qualified to be a market maker. However, the nature of market makers is indeed gambling with customers, but generally, if they gamble maliciously, they may be fined by the regulatory authorities, and it is a very high fine, so the general market makers have a good reputation. In addition to domestic market makers, there are no regulatory agencies in China. Many market makers who do business in China do not have a market maker license at all, and they are all taking money. Below the market maker's license is the common "Broker" English broker, which is the most common. Generally, most of the retail foreign exchange trading platforms you can see are brokers.

There is a difference between opening an account at home and opening an account overseas. What is the difference? Foreign countries use FCA licenses, and domestic companies may use ASIC or regulatory licenses from other countries. You know the specific reasons. Only when you encounter problems and complain to the regulatory authorities will you know whether you are protected. Moreover, the background manager and admin system of MT4 software can add and delete all kinds of information of traders, including accounts, orders, deposits and withdrawals, historical transaction records and so on.