Whenever you hear about the financial industry related to currency trading there are certain widely held and strongly accepted beliefs or better said, speculations about different aspects which in most cases end up as merely myths, falsehoods or simply half-truths. When it comes to Forex, we will consider this subject based on those popular beliefs about the Foreign Exchange field market.

Are they myth or truth? For example: “all brokers will trade against you every time”, “Forex is all about buying currency in banks”, “ECNs brokers are much better than market maker brokers”, “Forex is a system fill with opportunities to get rich overnight”, “all I need is $ 20,000 to start trading”, “volatility is my friend not my enemy”, “Forex require monthly interest”, Forex industry is a “not regulated industry”, among too many other claims.

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These are myths from the start, although like everything else out there in life, you might find some good exceptions. There is an important number of traders feeling uncomfortable with their broker, if the broker is acting as the counterpart of  their positions, as traders consider it to be a kind of conflict of interest. These conflicts of interest might appear with Market Maker brokers. This is a very important concern. However, in reality, most brokers take this position "by force" due to competitors and strict regulations in order to keep an honest and legal business.
There is no way a broker can survive in this industry unless the financial firm complies with its part of the deal. Brokers are not interested in trading against their clients because a big portion of the brokers' income comes from the fees & commissions charged to the clients. So brokers are NOT interested whatsoever in upsetting their clients.
Brokers  are, therefore, intermediaries of the market, their main function being securities brokerage. They are the only institutions legally authorized to trade securities. To invest in this market, investors must go to one of the brokers associated with the Exchange. In order for a  broker  to be an intermediary of the market, the broker must comply with all  requirements stipulated in the Securities Markets Regulators and in the Statutes and trading Regulations of the institution. In addition, they must have the approval of the applicable regulator entity of the region or country where the brokers is intended to offer its service or services.