List of Broker with CFTCNFA Regulation
Recognizing the best forex brokers is not just a matter of identity and basic trading needs. You may need to compare some of them to have more clarity when browsing through some information on forex brokers.
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Score | Broker | Regulation | Payment | Min Deposit | Max Leverage |
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If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
How did Russian forex regulation become very strict?
The first official effort to regulate the industry began in 2004 through the establishment of Federal Financial Markets Service (FFMS/FSFR). After the agency's disbandment in 2013, the Central Bank of Russia took over supervising Russian forex brokers.
In 2015, the Central Bank of Russia launched far stricter law enforcement. Forex brokers were given a January 2016 deadline to obtain licenses from CBR, or abstain from carrying out their services in the region. Since then, CBR only granted licenses to a handful of brokers.
Continue Reading at Best Forex Brokers in Russia
How is the forex regulation in South Africa?
African countries are forex-friendly, but naturally, there are minor restrictions from the government. Forex brokers must hold a license before running their business in any of these countries. The status of forex trading in these countries is still unclear; it is not yet legalized but not against the law.
The South African Financial Sector Conduct Authority (FSCA), previously known as Financial Services Board (FSB), is one of the most well-known forex regulatory bodies.
Continue Reading at Is Forex Trading Legal in Africa?
What should we do if the broker's regulation is still "in process"?
Some brokers might claim that they are in the process of applying for a license or a license extension. But in reality, not all brokers are true to their words. Some of them don't actually apply for any license and only use those words to steal the clients' funds. Even if the license is indeed "in the process", the broker's still unregulated during that time.
Continue Reading at Forex Regulation Insights: Defining Your Broker's Status
What are the forex regulaors in UAE?
Official regulators in the UAE are as follows:
- The Dubai Financial Services Authority (DFSA)
- The Abu Dhabi Global Market (ADGM)
- The Securities Commission Authority (SCA)
- Central Bank of the United Arab Emirates (CBUAE)
It is important to understand that the UAE is divided into two financial areas, namely the Mainland and Free Zones. Brokers who operate in the Mainland are regulated by the SCA or CBUAE. Meanwhile, DFSA and ADGM regulate brokers in the Free Zones, which are designated to encourage foreign investments and allow foreign-owned companies to be located.
Continue Reading at Best Forex Brokers in United Arab Emirates (UAE)
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