What traders should know about their brokers, but usually don't.
Practical, field-tested guides on brokers, regulation, execution, liquidity, and market structure. Written by traders, for traders.
Featured · Regulation
Not All Regulators Are Equal: How the World's Forex Regulators Really Compare
An FCA licence and a Vanuatu licence both say “regulated.” They do not mean the same thing. Here is how the major regulators compare, and what each means for your money.
Broker Risk
The Hidden Dangers of Offshore Brokers That Accept Americans
A handful of offshore brokers openly take US retail clients. It looks like a loophole. In practice it is a risk that can land on your account overnight, and it says a lot about the broker.
October 22, 2026 · 11 min read
Regulation
Managing Money for Americans Offshore: The “Tech Vendor” Loophole That Isn't
Copying trades into US clients' accounts at an offshore broker and earning rebates on their volume is sold as software. US regulators call it something else, and it can end in prison.
October 22, 2026 · 12 min read
Execution
Last Look, Explained: When a Fill Isn't Really a Fill
On a lot of FX liquidity, clicking buy is only a request. Here is how last look works, how it gets abused, and how to check whether it is costing you.
October 22, 2026 · 8 min read
Broker Strategy
Why You Only Need Two Brokers (and How to Pick the Right Pair)
One broker is a single point of failure. Five is noise. Here is the case for two, and the framework we use to make sure they genuinely diversify your risk.
October 22, 2026 · 8 min read
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