With a huge trading volume which is about $5 trillion a day, the Foreign exchange market is still the largest financial market in the world.The uniqueness of this market is undeniable due to its geographical dispersion, accessibility, and flexibility. Traders can access the Forex market 24 hours a day, except for weekends, use different leverages to increase profit and benefit from a variety of other advantages offered by the FX market. Although, there are still many risks involved. For this reason, it is very important to invest in using a reliable and regulated FX broker.

Here are 6 reasons why traders choose regulated forex brokers:

Protection

It is little wonder that Forex traders prefer to be protected. To ensure the safety of their transactions, investors usually choose to trade over a secured platform and this is what only regulated brokers can provide. Indeed, it is more likely that a potential customer will approach a regulated forex broker as it allows to feel more comfortable when trading. The absence of a regulatory status imposes a huge risk to investors’ assets.

Credibility

A regulatory status adds credibility to a forex broker. If the broker was able to stand the test, meet all necessary criteria and obtain a license from the authority, it means that such broker adheres to guidelines and guarantees implementation of the requirements. Hence, a regulated dealer is viewed by potential customer as reliable and decent.

Transparency

In order not to fall into the trap of unscrupulous broker, fraud or scam it is important to understand that the broker does conceal something. Potential customers choose those businesses which are transparent and do not hinder the access to information that the client needs.

Controlling

Regulations for controlling the financial tools provided by brokers may vary depending on jurisdiction and the financial authority. Some regulators allow brokers to transact only specific financial instruments. Therefore, it is crucial to understand whether the financial tools provided by brokers suit the client’s investing plan. It also allows the customer to assess the potential risks.

Customer support

Regulated forex brokers generally provide qualitative customer service to their clients. High-quality customer care services undoubtedly attract potential clients. A regulated broker is interested in the preservation of a good reputation and effective customer service is the key to success.

Advanced system

A reputable broker is keeping up with the industry updates which makes him competitive. Knowledge of current developments is essential for the provision of the best services and attraction of new clients.