Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Currently Forest Park FX partners with 14 brokers, all of which regulated by a relevant financial authority depending on the region where they offer their services.
On top of that Forest Park FX offers a rebate to traders who choose to register with them and open a trading account with one of the partner brokers. The rebate is up to 0,3 pips on every round turn trade, no matter if the trade is successful or you loose some cash. For example if the volume of your trades is 10 standard lots, which means you have traded 1 million dollars, and the rebate rate associated with your broker is 0.3 pips, then you would accrue 30 USD.
Regulation & Safety
If you want to open a trading account through Forest Park FX with a broker that operates in Europe, you can choose between Alpha Capital Markets, AxiTrader, Equiti Global Markets, Forex.com UK, FXCM UK, FXDD Trading, FxPro, Global Prime, Hantec Markets, IC Markets, IG Markets, OANDA UK, Pepperstone and ThinkMarkets.
All of the above mentioned brokers are regulated either by the FCA in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) or the Malta Financial Services Authority (MFSA), or some combination of those regulators.
That, in practice, guarantees the safety of your funds with all of the above mentioned brokers. And besides, we are talking about some of the biggest players on the retail forex market globally.
If you want to start trading in the USA your choice of brokers will be smaller – Forest Park FX partners there only with Forex.com, IG Markets and OANDA, all of which are authorized members of NFA.
And if you are in Canada you can choose between AxiTrader, Forex.com, Friedberg Direct FXCM Canada, FXDD Trading, Global Prime and OANDA. Here most brokers are regulated by the local Investment Industry Regulatory Organization of Canada (IIROC), but some like AxiTrader, Global Prime and FXDD Trading offer their services under ASIC or EU regulation.
All 14 brokers offer trading accounts to clients from the rest of the world. In this case, however, most of them use ASIC regulation (because in Australia there is no leverage restriction), while Forex.com uses their Cayman Islands Monetary Authority (CIMA) license.
The company behind Forest Park FX in the US is AMBASSADOR CAPITAL MANAGEMENT LLC, while in the UK they are registered as Forest Park FX Limited.
All brokers partnering with Forest Park FX offer relatively tight spreads with a leverage ranging form 1:30 to 1:500. Still have in mind that if you are opening an account from the USA, the leverage there is caped by the local financial authorities at 1:50, while throughout Europe the maximum leverage allowed with forex transactions is 1:30.
The most popular trading platform here is definitely the MetaTrader4 – it is offered by absolutely all 14 brokers. Still with Forex.com you can also choose Forex Trader Pro, with FXCM – Trading Station, with FxPro – MetaTrader5 and cTrader, with Hantec Markets – Currenex Classic and Currenex Viking, with IC Markets and Pepperstone also MetaTrader5 and cTrader, with OANDA – FxTrade and with ThinkMarkets – Trade Interceptor.
Methods of Payment
Forest Park FX pays your rebate via Paypal or Skrill. And while payment methods with the rest of the brokers vary, everywhere you can pay with major credit or debit cards like VISA and MasterCard, bank wire and some e-wallets. Most, for example do accept payments with Neteller and Skrill.
The minimum deposit requirement with the brokers partnering with Forest Park FX vary between 1 USD with OANDA and FXDD and 500 USD. Still, most of the brokers would ask you for about 200 USD or 250 USD.