Tadawul FX anyone?

scose-no-doubt

scose-no-doubt

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Anyone had a go with them?

I don't mind paying some extra spread to get rid of the interest aspect of FX but not at all sure whether this is a dodgy outfit or how to find out.

Says deloitte is auditing them :S
 
What's up, Kojak!

Yeh I've done all the google stuff and a lot of the people spouting off seem like bitter lunatics or idiots who didn't understand the mechanics of FX.

Any idea how to vet this company through proper organisations and authorities?

Thanks
 
scose-no-doubt said:
What's up, Kojak!

Yeh I've done all the google stuff and a lot of the people spouting off seem like bitter lunatics or idiots who didn't understand the mechanics of FX.

Any idea how to vet this company through proper organisations and authorities?

Thanks
Click to expand...

They're supposed to be regulated in Cyprus. You might want to check with the regulator CySec and see what compensation you are entitled to if/when they leg it. Cyprus, forex and MT4 is normally a recipe for disaster though.
 
Don't you have to declare yourself a follower of Islam to get an interest/swap free account ?
 
scose, here's a general rule of thumb. If the broker/dealer is located OUTSIDE of the US but they still accept US clients then red flag. This generally means they do not conform to US, UK, and SWISS regulations, which are all fairly strict.

Something you can look into. They probably have a live online operator you an speak to.

Peter
 
Gonna look into them a bit more but not exactly sure how to do due diligence on a broker. Horse's mouth would likely be full of sh1t.
 
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