Forex Trendy Software

[Kavitha.KS]

On the other front, some individual Forex Trendy Review traders and trading firms are concerned about minimizing tax expenses, they may choose to open accounts with a particular country domiciled broker for the tax purposes. At this point in time, U.K and Switzerland based brokers are probably popular choices because these countries are tax havens as well as having well established regulatory bodies for the forex market. Other Caribbean tax haven countries like Anguilla, Bahamas, Barbados, Bermuda, British Virgin Islands, Cyprus, etc; Panama, the Russian Federation, Costa Rica, might lack such well estabished regulatory bodies. At this time of writing, some forex brokers setting up offices in Hong Kong and Singapore are on the rise to provide clients with better regulatory reputation and tax advantage.

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Due to the recent collapses of large and well established financial giants like Lehman Brothers (U.S.), Northern Rock (U.K), Kaupthing, Glitnir, Landsbanki (Iceland), and other smaller financial institutions all over the world, have had implications on other financial markets including forex. One of the evidences is that, in October 2010, the National Futures Association (NFA) in U.S. imposed new leverage rates of 50:1 for major currency pairs and 20:1 to the cross ones from the standard 100:1 to retail clients from all forex brokers domiciled in U.S., while brokers outside U.S. have no impact from the changes. By saying that, it doesn't mean either a positive or negative news, it depends on who looks at it! For a minority of winning traders it doesn't matter too much as there are always better opportunities arising from the changes, while the majority of losers keeps complaining about the changes.

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Successful traders consider their brokers as a risk point in their trading systems. So they understand the rules of the game and do everything they can to minimize the risks associated with the brokers.

So what are the risks associated with the forex brokers?

+Bankruptcy:

Forex broker firms could go bankrupt like any other businesses. Here are some examples: Crown Forex SA based Switzerland went bankrupt in May 2009; U.S. based Refico went bust in October 2005; and you can find many more in the media.

So how to protect your fund when your broker goes bankrupt?

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