your broker is not your friend

Brokers are some of the most dishonest people I have come across. They pretend to be on your side but when push comes to shove they see you as just a number

I agree with your brother. How you will know these guys are just evil is when there is a news release, they will just lock up their systems so you cannot place orders

Broker regulation is a joke, the regulators of their offshore entities in Africa are just rubber stamps, they dont hold these brokers accountable. If you are in Africa your broker is as good as unregulated.

The conflict of interest in the brokerage industry is the main issue. These brokers trade against us so there is no way they will put our interests first

Even when something is clearly their fault they find it hard to say sorry and refund you for damages

Do they even wish you happy birthday? I mean banks do it, they send you a birthday message but brokers hardly do it, almost as if they hate you.

The regulators actually respond, I once wrote to the Security Commission of Bahamas (SCB) complaining about a broker, and the regulator responded and assured me they were investigating. However, their response time is not enviable as it took them a week to respond