REGULATED FOREX BROKERS

If you decide to start trading in Forex, you should not rush to contact any first available brokerage firm. The market is teeming with unscrupulous firms that can easily fool a novice trader. Often they do not even have a license,

 and the relevant authorities do not regulate most of these brokers. Therefore, they can freely engage in fraud - for example, provide technical mechanisms for deposits to be lost or simply refuse to return money to the customer.

In this regard, regulated forex brokers are more reliable. Their activity is controlled by the state, therefore, in the event of any dispute, the trader has the opportunity to file a complaint. Regulated companies are convenient to work with. Cooperating with them, you will not encounter problems such as suspension of trading platforms, non-performance of customers’ orders by the platform, no support service, and so on.

Why work with a regulated broker?

The main objective of the regulators is to counter illegal activity schemes and fraudulent transactions. In addition, these bodies are called upon to improve the quality of financial services provided by brokerage firms. Therefore, the main advantage of cooperation with the regulated forex broker is the safety of the trader’s funds. You can be sure that your deposit will not be "lost" per se. Everything will depend only on your abilities and the quality of the analysis. Other advantages of working with the controlled firms are as follows:

Ability to obtain all required information about the broker by addressing directly to regulators;

Brokers’ any action must comply with the requirements of the regulator;

Every organization agrees to have the funds to ensure all trading operations, as well as the "reserve" fund to refund traders in case of force majeure or bankruptcy of the company;

The ability to apply to the regulatory authorities in the event of dispute, for the objective resolving of issues.

Forex regulators in different countries

Different countries have their bodies, regulating the activities of forex brokers. Here are the main ones:

FSA - the UK;

NFA - the USA;

BaFin - Germany;

CySEC - Cyprus Republic;

CIF - Canada;

MiFID - control body in the European Union (in force in the 27 EU countries and 3 countries of economic zone of the region).

All of these organizations are called upon to take care of protecting the rights of consumers and investors, thereby ensuring the stability of financial markets. They also maintain competition among existing providers. To achieve these objectives, the regulatory authorities have the power to create rules, investigate and apply the relevant laws.

Making resort to a regulated brokerage company, you can engage in trader activities without fear for your savings. This will ensure that you have confidence in the future and trade safely in the Forex market.