Non-EU regulated brokers

[BenFoXX]

First of all big Hello to everyone reading my first post here!

Regarding the topic: I live in the EU (UK) and I am looking to bypass the new leverage regulations. I was wondering if anyone of you can recommend a broker which is not EU regulated?

I was already in touch with Berndale Capital (regulated in Australia). Their customer support seems good but I keep reading they don´t like to pay out if funds are withdrawn. Can anyone here say something about Berndale Capital?


Looking forward to your input!

 

[ForexinDevon]

You can use JAFX. They are not affected by the new ESMA regulations.

 

[BenFoXX]

Many thanks for your replies.

Well, JAFX is not regulated at all and also seems to be scam according to reviews.

I think Brokers regulated in Cyprus are affected by the new rules.

However, I'm currently looking at eightcap [link removed] which seems promising.

 

[ForexinDevon]

Many thanks for your replies.

Well, JAFX is not regulated at all and also seems to be scam according to reviews.

I think Brokers regulated in Cyprus are affected by the new rules.

However, I'm currently looking at eightcap [link removed] which seems promising.

They aren't a scam at all. They aren't regulated though, that is correct.

 

[BenFoXX]

They aren't a scam at all. They aren't regulated though, that is correct.

Are you with them? If so what is your experience with them?

Via google I only find bad reviews by people claiming this broker scammed them (i.e. seems not to pay out). Also, you won't find a single good review.

Some test site (sorry, I don't have the URL but you'll find the article on the first results page on google.com) say the broker claims to have applied for regulation and they are still waiting (years...) for their license. However, regarding to the aforementioned test site authorities say they've never heard about this company/JAFX.

If these aren't obvious red flags...

 

[BenFoXX]

there is any certainty that regulated broker always safe and secure for traders ? its really complicated for me

No Peter, there is now guarantee, but you can always complain with the regulation officials if something goes wrong. e.g. if your broker makes excuses instead of paying out.

Furthermore every proper broker should be regulated as (at least most if not all) jurisdictions don't allow a company to offer financial services without regulation.

You can see regulation as a state thing where the state is trying to make sure markets are stable and fair keeping financial companies such as banks and brokers in check. As I just mentioned: regulation is usually required for any sort of financial firm.

So no regulation = biiiig red flag, imho.

Personally I just google for reviews on brokers and also for "_broker name_ withdrawal review" or similar just to see if there are any (serious) negative reviews. Also I believe there are only very few fraudulent brokers. Most brokers seem indeed to be legit. At least I don't have any experience with a fake company (yet ). All brokers I've been with always payed out according to terms and conditions.