There are so many forex trading Apps, how can beginners choose?
The forex market is decentralized, and quotes vary across different platforms. In the past, retail investors found it difficult to enter, but now with the emergence of retail brokers and mobile Apps, the barrier to entry has been significantly lowered. The problem is—there are countless forex Apps on the market, and many are fake or scam platforms.
For investors wanting to enter the forex market, the most important thing is to learn how to distinguish genuine platforms from fake ones, and then choose the right forex App based on your needs.
How to quickly identify a reliable forex trading platform?
Don’t be intimidated by complicated descriptions; these 5 points will help you judge:
1. Regulatory licenses are the first line of defense
Legitimate forex Apps are certified by international financial regulatory authorities. The globally recognized regulatory agencies include: UK FCA, Australian ASIC, US NFA, EU MiFID. If a platform cannot obtain these licenses, it is basically a scam platform.