Hi,
I am relatively new to Forex, been demoing for a few months and am thinking about opening a live account. I was looking at a pretty reputable broker in the States (although i'm based in Ireland but can't find any brokers here!) I noticed in their risk warning that
Your Margin Account would not be insured under any state or federal insurance program, or by any other entity. If they should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account. Bit worried about that especially with the new leverage laws in the states and it yet to be seen how it will effect these brokers, just wondering if anyone knows, is this the case for all brokers, that your margin deposit is not insured??? this broker is regulated and has tons of fairly decent reviews on FF, anyway would be grateful if someone could give some advice, as said i'm still relatively a newbie to this industry, thanks.
I am relatively new to Forex, been demoing for a few months and am thinking about opening a live account. I was looking at a pretty reputable broker in the States (although i'm based in Ireland but can't find any brokers here!) I noticed in their risk warning that
Your Margin Account would not be insured under any state or federal insurance program, or by any other entity. If they should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account. Bit worried about that especially with the new leverage laws in the states and it yet to be seen how it will effect these brokers, just wondering if anyone knows, is this the case for all brokers, that your margin deposit is not insured??? this broker is regulated and has tons of fairly decent reviews on FF, anyway would be grateful if someone could give some advice, as said i'm still relatively a newbie to this industry, thanks.