What is the difference between a regular forex platform and a black platform?

Unregulated White Label and Black Platforms Proliferate – Low Regulation Many small black platforms do not have formal international regulatory qualifications at all, and often use non-existent regulators to deceive newcomers who have just entered the market, often selling dog meat with sheep's heads. A formal and legal platform must be supervised by international authorities such as NFA, FCA, FSP, ASIC, etc., and has its own unique regulatory number and authorization code, and is actually verified and verified on the corresponding official **. Therefore, when investors choose a platform, they must look at the regulatory qualifications.

The black platform often uses pirated and inferior MT4 platform, extremely inhumane UI, the platform itself does not have the ability to independently develop the trading platform, can only provide customers with shoddy pirated MT4, and not to mention whether the later principal can be withdrawn, investors will suffer from it in the investment transaction, the platform is unstable and the update operation is delayed, and the slow operation of the transaction process affects the comfort experience of investors' foreign exchange investment and the safety of investors' funds.

WikiFX is a professional forex platform query tool, which is in wiki coLimited's enterprise information query tool, foreign exchange Tianyan is a domestic foreign exchange trading platform data inquiry, word-of-mouth inquiry, complaint and rights protection, risk, credit evaluation service platform, providing users with foreign exchange platform archives, regulatory information, platform monitoring, platform identification, foreign exchange news, credit reports and other functions, committed to helping users screen and identify fake traders.

1.Do you use a regular MT4 trading platform? The trading software used by the regular platform is basically MT4 or MT5 that is commonly used in the world.

If you use the international MT4 platform, so as to ensure that investors all over the world see the same, and there will be no malicious tampering with customer order data, which is undoubtedly the fairest for investors. If you don't use it, or build it yourself, it's basically a black platform. 2.

Look at regulation. The regulation of formal platforms mainly comes from the United States, the United Kingdom, etc., among which the U.S. NFA and the United Kingdom FCA are the most stringent. You can find the relevant regulatory license number and documents on the official website, or on the official website of the national foreign exchange qualification:

Inquire about the relevant regulatory situation.

1.The black foreign exchange trading platform is not qualified to be regulated, so we can check the supervision of the platform to see if the platform is a black platform, as long as the platform is regulated by the formal platform, it must be regular, and if it is regulated by unknown countries such as Mauritius, it is best not to believe it.

2.Black forex trading platforms usually don't exist for long, because the platform itself is fake, so we can judge whether the platform is legitimate by how long the platform has existed. Platforms that usually exist for more than 5 years are basically regular, while black platforms are usually impossible to exist for 5 years.

3.Check the reputation of the forex trading platform. The reputation of a foreign exchange trading platform determines the popularity of a platform, and there is basically no problem with a good reputation of foreign exchange platforms, but there are also some foreign exchange platforms that have a good reputation but are not particularly formal, which investors should pay more attention to.

Features of the Black Platform:

1. Directly hand over the money to a domestic company or a domestic individual (100% fake); Formal platforms are not allowed to send money to China.

2.Fabricating or renaming the name of the registration authority; It is easy to check whether there is any regulation, especially in the UK, which is more formal and easy to check.

3.Use the ordinary **** registration number to fabricate the registration number of the regulatory department.

4.The deposit account is a private account (directly hand over the money to a domestic company or a domestic individual).

5.Accept virtual bank remittances and third-party remittances (for example, some can even be paid with Alipay, 100% of which are fake, and regular foreign exchange dealers strictly prohibit third-party remittances in order to ensure the safety of funds).

6.Provision of ineffective departments and associations that do not have regulatory capacity, claiming to have a registered license.

There is the most comprehensive and professional foreign exchange platform information on WikiFX, so if you want to know about the content of the foreign exchange platform, you can search directly on it, and you can also know the details of the transaction.

Here are a few things to know before choosing a forex platform:

1. Regulatory conditions - to ensure the formal standards of the platform.

This is the most important and effective way. There is no formal supervision of the foreign exchange trading platform, there is almost no security at all, so to judge whether a platform is safe and credible, it is necessary to look at the supervision, not only to see whether the regulatory authority is authoritative, but also to see whether there is a regulatory number.

2. Separation of funds - the standard to ensure the safety of funds.

The separation of funds means that the user's funds and the operating funds of the foreign exchange platform need to be stored separately, and under the specifications of the regulatory authorities, the formal foreign exchange platform will provide traders with segregated accounts.

3. Trading software - the standard to ensure the security of transactions.

At present, there are many kinds of trading software in the foreign exchange market, and only formal and stable trading software can ensure the safety of trading, so be careful of those platforms that are privately built or not formal enough trading software, because this kind of software will occur in various unstable situations in the transaction process, and it is impossible to conduct quality transactions at all.

4. Customer complaints.

A supervised platform is not necessarily 100% safe, pay attention to its customer complaints, too many customer complaints, explain many problems, and it is not recommended to choose.

There are many foreign exchange platforms, and when choosing, you must pay attention to choosing a large platform as much as possible, which is relatively safer.

In addition to some small details of the MT4 platform used by the platform to determine whether the platform is legitimate, you can also go to the official website of the platform's regulatory agency for inquiries.

It is recommended to choose a platform regulated by the US NFA or the FCA in the UK, which is more strictly regulated and more secure for the safety of funds.

Remember that it is more reliable to choose a big platform, such as FXTM, where several friends speculate on foreign exchange.