List of Broker with FSCL 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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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
What is the role of CNMV in regulating brokerage in Spain?
The CNMV is responsible for supervising and regulating the financial markets in Spain. It collaborates closely with the European Securities and Markets Authority (ESMA) and applies unified laws for trading in leveraged markets for retail investors, as Spain is a member of the European Union.
Continue Reading at 3 Interesting Facts of Forex Trading in Spain
What are the areas of PRA's regulation?
According to the PRA rulebook, there are 3 areas of the PRA regulations. Firms must comply with the regulations depending on which classification they fall into.
- Banking and Investment Rules: for CRR firms (banks, building societies, or investment firms subject to the EU Capital Requirements Regulation) and non-CRR firms (credit unions, building societies, or PRA-designated investment firms not subject to the EU CRR).
- Insurance Rules: for SII firms (insurance firms subject to the Solvency II Directive) and non-SII firms.
- Other rules: for non-authorized persons (persons or firms not authorized by the PRA).
Continue Reading at What are the Top UK Financial Regulators?
What are reliable forex broker regulations?
Some of the top regulatory agencies in the world include:
- The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom
- The Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States
- The Swiss Financial Market Supervisory Authority (FINMA) in Switzerland
- The Australian Securities and Investments Commission (ASIC) in Australia
- The Financial Services Agency of Japan (JFSA) in Japan
- The Cyprus Securities and Exchange Commission (CySEC) in Cyprus
If the broker you use is regulated by one of the regulatory agencies above, you can be confident that it is safe. The reason is that these regulatory agencies have strict requirements that brokers must meet to be licensed.
Only the most reputable and trustworthy brokers can obtain a license.
Continue Reading at How to Avoid Forex Broker Scams
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