Forex Regulation | Forex Regulatory Bodies

Like any financial market, Forex currency trading requires proper regulation. Every country has own governmental financial institutions & independent regulators that supervise and control the Forex industry and work to protect its investors.

Not all Forex brokers nowadays are regulated by appropriate financial regulators in their countries. It’s important to pay attention to your broker’s regulatory status, as it’ll determine the level of security and protection of your investment.

Below is the list of Forex regulatory & supervisory bodies for each country:

Anguilla:

Anguilla Financial Services Commission www.fsc.org.ai

Antigua:

Eastern Caribbean Securities Regulatory Commission (ECSRC) www.ecsrc.com

Australia:

Australian Securities and Investment Commission (ASIC) www.asic.gov.au

Azerbaijan:

State Committee for Securities (Azerbaijan) www.scs.gov.az
Baku Stock Exchange www.bfb.az

Bangladesh:

Securities and Exchange Commission (SEC) www.secbd.org

Belgium:

The Financial Services and Markets Authority (FSMA) www.fsma.be

Belize:

International Financial Services Commission (IFSC) www.ifsc.gov.bz

British Virgin Islands:

BVI Financial Services Commission (FSC of BVI) www.bvifsc.vg

Bulgaria:

Financial Supervision Commission of Bulgaria (FSC Bulgaria) www.fsc.bg

Canada:

British Columbia Securities Commission (BCSC) www.bcsc.bc.ca
Canadian Investor Protection Fund (CIPF) www.cipf.ca
Financial Transactions and Reports Analysis Center of Canada (FINTRAC) www.fintrac.gc.ca
Investment Industry Regulatory Organization of Canada (IIROC) www.iiroc.ca
Ontario Securities Commission (OSC) www.osc.gov.on.ca
Ombudsman of Banking Services and Investments (OBSI) www.obsi.ca

Cayman Islands:

The Cayman Islands Monetary Authority (CIMA) www.cimoney.com.ky

China:

China Securities Regulatory Commission (CSRC) www.csrc.gov.cn

Croatia:

Croatian Financial Services Supervisory Agency (CFSSA) www.hanfa.hr

Cyprus:

Cyprus Securities and Exchange Commission (CySEC) www.cysec.gov.cy

Czech Republic:

Czech National Bank (CNB) www.cnb.cz

Denmark:

Danish Financial Supervisory Authority (Danish FSA) www.dfsa.dk

Dominica:

Financial Services Unit (FSU) fsu.gov.dm

Dubai, UAE:

Dubai Multi Commodities Centre (DMCC) www.dmcc.ae
Dubai Gold & Commodities Exchange (DGCX) www.dgcx.ae
Dubai Financial Services Authority (DFSA) www.dfsa.ae
Emirates Securities and Commodities Authority (SCA) www.sca.ae

Estonia:

The Financial Supervision Authority (FINANTSINSPEKTSIOON) www.fi.ee

Finland:

FIN-FSA in Finland www.finanssivalvonta.fi

France:

Autorite des marches financiers (AMF) www.amf-france.org
Banque de France www.banque-france.fr
Credit Institutions and Investment Firms Committee (CECEI) www.banque-france.fr
French Autorité de Contrôle Prudentiel et de Résolution (ACPR) www.regafi.fr

Germany:

Federal Financial Supervisory Authority (BaFin) www.bafin.de

Greece:

The Hellenic Capital Market Commission (HCMC) www.hcmc.gr

Hong Kong:

Securities and Futures Commission (SFC) www.sfc.hk

Hungary:

Hungarian FSA (HFSA) www.pszaf.hu

Iceland

The Financial Supervisory Authority (FME) www.fme.is

India:

Securities and Exchange Board of India (SEBI) www.sebi.gov.in
Reserve bank of India (RBI) www.rbi.org.in

Indonesia:

Commidity Futures Trade Regulatory Agency (CoFTRA) www.bappebti.go.id

Ireland:

Central Bank of Ireland www.financialregulator.ie

Isle of Man

The Financial Supervision Commission (FSC) www.fsc.gov.im

Israel:

The Israel Securities Authority (ISA) www.isa.gov.il

Italy:

Commissione Nazionale per le Società e la Borsa (CONSOB) www.consob.it

Japan:

Financial Services Agency of Japan (FSA Japan) www.fsa.go.jp
Japan Securities Dealers Association (JSDA) www.jsda.or.jp
Japan Investor Protection Fund (JIPF) jipf.or.jp
Tokyo Commodity Exchange (TOCOM) www.tocom.or.jp

Kenya:

Capital Markets Authority (CMA) www.cma.or.ke

Kuwait:

Ministry of Commerce and Industry in Kuwait www.moci.gov.kw
Kuwait Chamber of Commerce & Industry (KCCI) www.kuwaitchamber.org.kw

Latvia:

The Financial and Capital Market Commission (FKTK) www.fktk.lv

Lebanon:

Banque Du Liban www.bdl.gov.lb

Lithuania:

The Lithuanian Securities Commission, Bank of Lithuania www.lb.lt

Luxembourg:

Commission de Surveillance du Secteur Financier (CSSF) www.cssf.lu

Liechtenstein:

The Financial Market Authority Liechtenstein (FMA) www.fma-li.li

Malaysia:

Securities Commission Malaysia www.sc.com.my

Malta:

Malta Financial Services Authority (FSA in Malta) www.mfsa.com.mt

Mauritius:

Financial Services Commission of Mauritius (FSC Mauritius) www.gov.mu

New Zealand (limited regulation):

Financial Markets Authority (FMA) www.fma.govt.nz
Financial Service Providers Register (FSPR) www.business.govt.nz
Financial Services Complaints Limited (FSCL) www.fscl.org.nz

Nevis:

Nevis Financial Services www.nevisfinance.com

Nigeria:

Securities & Exchange Commission Nigeria www.sec.gov.ng

Norway:

The Financial Supervisory Authority of Norway www.finanstilsynet.no

Pakistan:

Securities and Exchange Commission of Pakistan (SECP) www.secp.gov.pk

Panama:

Superintendencia de Mercado de Valores – The Securities Market Superintence (SMV) www.supervalores.gob.pa
Ministry of Industry and Commerce (MICI) www.mici.gob.pa

Philippines:

Securities and Exchange Commission Philippines www.sec.gov.ph
The Bangko Sentral ng Pilipinas (BSP) www.bsp.gov.ph

Poland:

Polish Financial Supervision Authority (PFSA) www.knf.gov.pl

Portugal:

Comissão do Mercado de Valores Mobiliários (CMVM) www.cmvm.pt

Romania:

Romanian National Securities Commission (C.N.V.M.) www.cnvmr.ro

Russia:

FFMS in Russia (FCFR) www.ffms.ru
Centre for Regulation of Off-Exchange Financial Instruments and Technologies (CRFIN) www.crfin.ru

Seychelles:

Seychelles Financial Services Authority (FSA Seychelles) www.fsaseychelles.sc
Seychelles Licensing Authority (SLA) www.sla.sc

Singapore:

Monetary Authority of Singapore (MAS) www.mas.gov.sg
Singapore Exchange (SGX) www.sgx.com

Slovakia:

National Bank of Slovakia (NBS) www.nbs.sk

South Korea:

Financial Supervisory Commission www.fss.or.kr

Sri Lanka:

Securities and Exchange Commission of Sri Lanka www.sec.gov.lk

St. Vincent and the Grenadines:

The Financial Services Authority svgfsa.com

Sweden:

Swedish Financial Supervisory Authority (Swedish FSA) www.fi.se

Switzerland:

Association Romande des Intermediares Financiers (ARIF) www.arif.ch
Swiss Bankers Association (SBA) www.swissbanking.org
Swiss Federal Banking Commission (SFBC) www.finma.ch
Swiss Federal Department of Finance (SFDF) www.efd.admin.ch
Swiss Federal Finance Administration (SFFA) www.efv.admin.ch
Swiss Financial Market Supervisory Authority (FINMA) www.finma.ch
Swiss National Bank (SNB) www.snb.ch
PolyReg www.polyreg.ch
Geneva Chamber of Commerce (CCIG) www.ccig.ch
Organisme d’Autoregulation des Gerants de Patrimoine (OAR-G) www.oarg.ch

Tanzania:

The Capital Markets and Securities Authority (CMSA) www.cmsa-tz.org

Thailand:

Securities and Exchange Commission, Thailand www.sec.or.th

Turkey:

Capital Markets Board – SPK www.spk.gov.tr

United Kingdom:

UK Financial Services Authority (FSA UK) www.fsa.gov.uk
The Financial Conduct Authority (FCA) www.fca.org.uk
The Prudential Regulation Authority (PRA) www.bankofengland.co.uk
Financial Services Compensation Fund (FSCS) www.fscs.org.uk

United States:

Commodities and Futures Trading Commission (CFTC) www.cftc.gov
Financial Industry Regulatory Authority (FINRA) www.finra.org
National Futures Association (NFA) www.nfa.futures.org
New York Stock Exchange (NYSE) www.nyse.com
Office of the Comptroller of the Currency (OCC) www.occ.treas.gov
US Securities and Exchanges Commission (U.S. SEC) www.sec.gov
Chicago Board of Trade (CBOT) www.cmegroup.com
Securities Investor Protection Corporation (SIPC) www.sipc.org

International organizations:

EU Commission ec.europa.eu
Ernst & Young (E&Y) www.ey.com
Financial Markets Association (ACI) www.aciforex.com
KPMG www.kpmg.com

Vanuatu:

Vanuatu Financial Services Commission (FSC) www.vfsc.vu

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If you don’t see your country on the list, leave us a comment, we’ll be glad to find the information about regulatory bodies for you.

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119 Comments

My account was closed when Alpari went bust back in 2015 ( was it really over 2 years ago ? )after the Swiss did their magic with the Euro and remobed the peg. Luckily I was with the FCA here in the UK so got my trading pot back (minus conversion from GBP to USD to GBP ) so it pays to be in a well regulated area with a good regulated broker for maximum cover. http://www.deckchairtrader.com

Yes, TriumphFX is registered with Vanuatu Financial Services Commission (reg. 17901)

Is http://www.tfxi.com a regulated forex broker? Is multi account manager apply in every broker firm?

Financial Services Unit (FSU) Dominica (http://fsu.gov.dm/)

What is the regulatory body in Dominica?

We don’t know much about South African regulation.
There is SARB – South African Resrve Bank, which controls all foreign exchange related areas, but there is no specific regulator found for Forex brokers in the South Africa so far.

I have read some comments concerning south African regulators, are there any? if so please do let us know

Regards.

that’s the only thing you can find in Russia.

KROUFR in Russia
that is non-profit self-regulatory authority (as well as the mentioned CRFIN though)

to trader who asked if Forex legal in India?
It’s not, no brokerage companies can be found in India, because you cannot legally do it.
(http://www.100forexbrokers.com/indian-forex-brokers)

Saudi Arabian Monetary Agency (SAMA) – http://www.sama.gov.sa/

what is the regulating bodies for the following countrie please?
saudi arabia

is there anything in South Africa if not what options are available?

Res sir,
Is forex trading is legal in india? How about iForex?

Is FSC Mauritius a strong regulatory body? Is my money safe with brokers who claim to be regulated by them? Precisefx in Ghana (I suspect they are a white label) is with FSC. Can you say something about the strength of that regulatory body?

It doesn’t appear to be a regulator, rather a simple supervising body.

Hi what about the fsb.co.za of South Africa

There are ongoing debates about whether Forex trading is legal or not in India.
The Reserve Bank of India (RBI) does everything in its power to prohibit Forex trading by individuals. If found trading, individuals will face strict charges for violating the law.
But the truth remains – there are many investors from India who trade Forex & open accounts with foreign brokers. You have to, however, remember that the bank will monitor transactions to/from your bank account for any suspicious/unlawful activity related to currency trading.

is forex trading is legal in india ?

Yes, UMOFX is regulated – with FSPR (FSP277305) in New Zealand.
New Zealand, however, has limited regulation. More on that can be found at: http://www.100forexbrokers.com/newzealand-forex-brokers
(scroll down to the bottom of the article).

Hello Sir,
I am from Bangladesh, I trade with umofx.com
Please sir can you help me about this broker. Is it regulated and secure broker ?

yes, it’s legal in Thailand.
The Bank of Thailand sets the limits, based on your supporting documents and source of income. Sorry, I don’t know what are those limits. (Online people talk about $20,000 being the limit, after that you need to fill out declaration forms).

Is it legal to trade FX in Thailand? Do the Thai have any funds limit to send out of country for FX trading?

admiral market is the best broker or not sir answer me i want to open real account admiral market

In India:
Securities and Exchange Board of India (SEBI) http://www.sebi.gov.in
Reserve bank of India (RBI) http://www.rbi.org.in

hello sir ,what organisation regulating forex broker in india?

FXCH is not regulated.
Details on the reviews page: http://www.100forexbrokers.com/reviews-ratings/fxch-forex-swiss

Hello Sir
what about FXCH?
http://www.forex-swiss.com? are they regulated by any organisation ? is it reliable broker?

Thank you

NFA in the US is the strictest. Though they don’t require segeregated accounts right now, but there is an official Proposal exactly about segregated accounts that’s under a review right now.

After that, we have FSA in the UK – solid regulation, penalties apply, but not as severe as with NFA; all brokers accounts are sergerated.

Hello BG,

which countries forex regulatory body is very strict and standard?

– Regulatory body requires strict process and well capital to start business
– 100% segregated accounts for clients funds safety
– Keeps eye on the financial transactions
– Severe punishment if found scam or illegal activity

Please convey me.

We haven’t heard about Ghanafx broker before, thank you for mentioning!
Unfortunately, we don’t know anything about this company, I’m very sorry.
We’ll create a review page and hopefully will hear some feedback from traders.

I’m from Ghana and i don’t see my country , only broker i know there is Ghanafx. They claim they are regulated by fscmauritius. Check it out and verify that for me please to determine safety of funds to be sent there

An official reply from FMA New Zealand suggests that Forex brokers in New Zealand are “generally subject to relatively limited regulation”, where only registration with FSPR, FSCL is required. We’ll be updating all listings accordingly.

Below is the official reply from FMA:

“All foreign exchange dealers that have a place of business in New Zealand must be registered as a financial service provider. As a precondition to registration, financial service providers are required to be members of an approved dispute resolution scheme. More information on registration is available at http://www.fspr.govt.nz.

Some foreign exchange dealers may be subject to additional regulatory requirements depending on the activities they undertake.

Providing foreign currency exchange services, and associated money remittance services, generally would not require any licence or authorisation (other than registration as a financial service provider) if this is the dealer’s sole activity. These activities are generally subject to relatively limited regulation.

However, foreign exchange dealers who offer foreign exchange futures contracts must be authorised by FMA to deal in futures contracts. ‘Futures contracts’ is defined in the Securities Markets Act 1988, and includes some cash settled derivative products which may not be considered futures contracts for other purposes. It generally includes contracts for difference over foreign exchange pairs and margin foreign exchange products, swaps, or cash settled forward contracts. Authorisations of futures dealers are published in the New Zealand Gazette (www.gazette.govt.nz) and an authorised dealer should be able to provide you proof of its authorisation. However, authorisations are not currently noted on the financial services providers register or published on our website.

Foreign exchange dealers who also provide other financial products or financial services may, depending on what other products or services they provide, be regulated in respect of those other products or services.

We hope this is of assistance.”

Another official reply from FSPR:

“The primary regulator for Brokers would be the Financial Markets Authority.

You can view their contact details and more information about them by clicking here.

Thank you very much for the detailed feedback!
We’ve already sent requests to FMA and FSPR regarding this.
The information will be updated accordingly upon receiving an official reply.

What is written on http://www.100forexbrokers.com/forex-regulation against New Zealand is totally misleading.
In New Zealand, Financial Markets Authority (FMA) http://www.fma.govt.nz is the only regulatory body which monitors compliance with, investigates and enforces financial markets conduct legislation including
Securities Markets Act 1980. Its predecessor was NZ Securities Commission. Forex and derivatives (other than CFD shares/or other securities) remain unregulated as of now in New Zealand. Neither FMA nor any other agencies licence, supervise, or regulate FX and derivatives (other than CFD shares/or other securities providers) and ‘Forex Brokers’ are not subject to regulations imposed by any agencies in NZ.

Financial Service Providers Register (FSPR) http://www.business.govt.nz. FSPR is not a regulator rather it is registry under http://www.companiesoffice.govt.nz where any persons or entities providing financial services
are required to register and if such > persons/entities have retail customers they have to also become member of any Dispute Resolution Scheme) and the approved dispute resolution schemes as approved by the Ministry of Consumer Affairs are:
Financial Services Complaints Limited Insurance & Savings Ombudsman
Financial Dispute Resolution Scheme (FDR),
Financial Services Complaints Limited (FSCL.

Financial Dispute Resolution (www.fdr.org.nz) or Insurance & Savings Ombudsman
(www.iombudsman.org.nz) are not regulators as otherwise claimed by ‘Forex Brokers’ on which basis your portal had classified these as ‘Regulated Brokers’. Rather the above are approved Dispute Resolution Schemes to whom any NZ retail customer of a financial service provider registered under Financial Service Providers Register (FSPR) could refer a commercial complaint about an entity. To clarify, all financial service providers who operate in NZ must be registered under FSPR and those who provide financial services to
retail clients must also join a dispute resolution scheme.

Kenya – Capital Markets Authority – http://www.cma.or.ke/

What are the regulators in Kenya?

Yes, it’s legal there.
Sri Lanka: Securities and Exchange Commission – http://www.sec.gov.lk/

hi BG i would like to know the trade regulation in srilanka, is it legal there.

Thanks! This helped my researched a lot about my local broker admiral markets!

Tanzania: Capital Market and Securities Authority (CMSA) – http://www.cmsa-tz.org/

What are the regulators in Tanzania?

Bangladesh: Securities and Exchange Commission http://www.secbd.org/
South Korea: Financial Supervisory Commission http://www.fss.or.kr/

Hello,

what are the regulators in South Korea ?

please post bangladeshi regulatory bodies

China: China Securities Regulatory Commission (CSRC) – http://www.csrc.gov.cn/

China ?

India: Securities and Exchange Board of India (SEBI) – http://www.sebi.gov.in/

Who are the Regulatory bodies For forex in India?

All countries in the world comply with AML (Anti-Money Laundering policies).

Belgium: The Financial Services and Markets Authority (FSMA) – http://www.fsma.be/
Croatia: Croatian Financial Services Supervisory Agency (CFSSA) – http://www.hanfa.hr/
Czech Republic: Czech National Bank (CNB) – http://www.cnb.cz/
Estonia: The Financial Supervision Authority (FINANTSINSPEKTSIOON) – http://www.fi.ee/
Iceland: The Finacial Supervisory Authority (FME) – http://www.fme.is/
Isle of Man: The Financial Supervision Commission (FSC) – http://www.fsc.gov.im/
Latvia: The Financial and Capital Market Commission (FKTK) – http://www.fktk.lv
Lithuania: The Lithuanian Securities Commission, Bank of Lithuania – http://www.lb.lt/
Luxembourg: Commission de Surveillance du Secteur Financier (CSSF) – http://www.cssf.lu/
Liechtenstein: The Financial Market Authority Liechtenstein (FMA) – http://www.fma-li.li/
Portugal: Comissão do Mercado de Valores Mobiliários (CMVM) – http://www.cmvm.pt/
Romania: Romanian National Securities Commission (C.N.V.M.) – http://www.cnvmr.ro/
Slovakia: National Bank of Slovakia (NBS) – http://www.nbs.sk/
Jersey: –
Anguilla: Anguilla Financial Services Commission – http://www.fsc.org.ai/
Antigua: Eastern Caribbean Securities Regulatory Commission (ECSRC) – http://www.ecsrc.com/
Curacao: –

I have a question about the jurisdictions and forex brokers: what are the jurisdictions that do not have AML/KYC requirements, usually it is offshores?

Hi

what are the regulating bodies for the following countries please?
Belgium
Croatio
Czech Republic
Estonia
Iceland
Isle of Man
latvia
Lithuania
Luxembourg
Liechtenstein
portugal
Romania
Slovakia
Jersey
Anguilla
Antigua
Curacao

Thanks

In Greece: The Hellenic Capital Market Commission (HCMC) http://www.hcmc.gr/

In Norway: The Financial Supervisory Authority of Norway http://www.finanstilsynet.no/

what about in norway

What are the regulators in Greece ?

Not sure about Nevis, sorry.
They have: Nevis Financial Services (http://www.nevisfinance.com/)

Update Feb 1, 2012: here is the reply I received so far from Nevis Financial Services, quote:

“I am verifying if there is currently any regulation to Forex trading in Nevis. I will let you know as soon as I obtain this information.
Thank you for your patience.

Sincerely,
Donnette Dyer
Nevis Financial Services Development & Marketing Department”

Update Feb 21, 2012: in Nevis we have registrar: Nevis Financial Services Regulation and Supervision Department (http://www.nevisfinance.com/)

Could somebody guide me on jurisdictions where forex brokers are not regulated? Tnx!

I have a question: are forex brokers regulated in Nevis?

Just to add to the last comment, a good broker who wants to be in the business for a long time will provide good service & won’t scam traders irrespective of whether it is regulated or not; while a broker who is out to make a quick buck will scam & run away even if it is regulated, or just bribe these so called regulatory bodies. Going by the experience of former & existing customers is always better than relying on inept & corrupt government bodies & their stupid regulations, they don’t safeguard our money in any way, look at MF Global.

Seriously, it’s ludicrous to believe that these so called regulatory bodies are trying to protect the investors! As can be seen with NFA & CFTC, these bodies protect the institutional players by trying to crush the retail traders; obviously because creating regulations that give institutional players an edge earns them lots of $$$ but protecting the retail individual investors/traders does nothing for them.

Yes, in Israel:
The Israel Securities Authority (ISA) – http://www.isa.gov.il

Is there something in Israel ?

in Philippines:
SEC of Philippines (http://www.sec.gov.ph)

What body regulates forex trading in the Philippines?

In Nigeria:

Securities and exchange commission of Nigeria (http://www.sec.gov.ng)
I don’t know many brokers with branches in Nigeria, sorry.
Recently found that ACM Gold broker has opened a branch in Nigeria.

What about Nigeria? Do Nigeria has a body that regulates FOREX Broker? Do you know a broker operating from Nigeria?

Thank you Khizer,

Yes, in Pakistan you have SEC of Pakistan (secp.gov.pk)
Will be added.

Unfortunately, I haven’t come across Forex brokers from Pakistan, sorry.
I also don’t know about the 10:1 leverage limit and/or any restrictions for opening accounts with brokers oversees.

Dear BrokerGuru,

Let me know Pakistan governmental financial institutions & independent regulators that supervise and control the Forex industry and work to protect investors.

http://www.secp.gov.pk/

1- I found that web site for Securities and Exchange Commission of Pakistan is that organization whole responsible for Forex trading or are there any other organizations too?

2- I also found that in SECP website Pakistan Government allows brokers to provide there investors maximum 1:10 leverage. I never understand if government not allowed over than 1:10 leverage than why government allow to send money to internationals brokers (outside country) whom trading even 1:1000 leverage.

3- Is there any Pakistan’s Forex broker?

Regards,

Khizer

For Mauritius:
Financial Services Commission of Mauritius (FSC Mauritius) http://www.gov.mu

Hello, I want to know for Mauritius
Thx

V3FX Limited maintains its registered office at 306 Victoria House, Victoria, Mahe, Seychelles.

where are the v3fx dubai office

I am from Bangladesh.

Hello,

From the information found on the official site of National Bank of Serbia, there are no problems in this area.

Quote:
…licensed exchange dealer is an economic entity which has been
licensed by the National Bank of Serbia to perform exchange operations and
which has entered into agreement on the performance of such operations
with several banks;

license is a license document for performing exchange
transactions issued by the National Bank of Serbia to an economic entity;

…4. The economic entity shall submit to the National Bank of Serbia a
request for license to perform exchange operations (hereinafter: license).

…5. The National Bank of Serbia shall check whether the economic entity
who submitted request referred to in Section 4, paragraph 1 hereof, meets
requirements for performance of exchange operations and shall render a
decision on such request not later than 30 days following the submission of
the request and accompanying documentation.”

Document PDF link: http://www.nbs.rs/export/sites/default/internet/english/20/kpb/exchange_transactions_performing.pdf

Plus the general reference page to “Decision on Foreign Exchange operations”:
http://www.nbs.rs/internet/english/20/index_dev.html

I am from Serbia and on 11th of August this year, Central Bank of Serbia declared that all foreign exchange must go through banks. Serbian citizens aren’t allowed to participate on Forex using Fx platforms.
I honestly don’t know what to do or to whom I should speak.
If you can give me some guideline or advice on the matter I would be very grateful.

Once again thank you in advance.

In Nevis:
Nevis Financial Services Commission http://www.nevisfinance.com

who regulates forex in Nevis

Hi Rustam,

In Azerbaijan we have:
– State Committee for Securities (Azerbaijan) http://www.scs.gov.az
– Baku Stock Exchange – http://www.bfb.az

Hello
What are the regulators in Azerbaijan?

Rustam

Our review page for V3FX is empty..

I personally don’t know anything or heard any feedback about this broker.
If to comment their website, there are 2 points I would note about:
– the “Open an Account” link lands on an empty page.
– the latest promotion they published about was in February 2011.
– live chat doesn’t work.

I also don’t remember receiving any replies from this broker, it’s on the watch list at the moment.

hello, v3fx is real or scam

Unfortunately, I can’t help with this question, as every regulatory body has own rules and requirements. Therefore, you’ll need to contact the Regulator directly and inquire about procedures, brochures, documents etc.

Hello
i want to register with regulatory body, who ‘ll provide this..?

no body can give such kind of return on that..its impossible..i never heard after investing that much amount you are getting 500%.Its fack company.Mislead investors

IS THERE ANY INSURANCE COMPANY TO INSURE INVESTORS FUND..???

Hello Guru,
i want to know about the Insurance of the investment in FOREX.Is it true or if yes then i want to know the detail of that process.Kindly inform me on my e-mail add.

Regards

Pankaj kumar
E-mail [email protected]
Skype-yskmoney.
ICQ- 614762373.

Thank you so much
alaa al kadi – syria

As a rule, you can either:
– check it yourself (in BVI it would be FSA BVI regulator: http://www.bvifsc.vg/)
– ask a broker (I would start with this option, as it also gives you an immediate idea about broker’s support and openness)

As a rule, if a broker is regulated, they would make sure to mention it on the site (under “About us”, “Company profile”, “Regulation”, “Legal” etc.) So, if you can’t find any information about it on the site, there is a higher chance that a broker is not regulated.

As for company registration/business registration, you should ask a broker to show you registration documents.

how i know the legal registration of a company.Sir you now abt this company-‘MASTERFIELD FINANCIAL CONSULTANTS LTD. (BVI.).Were i can check this company’s registration and legal detailes.I WISH TO KNOW MORE DETAILES ABT THIS COMPANY… MASTERFIELD FINANCIAL CONSULTANTS PVT LTD.. THEY OFFERS 200 TO 500% IN 3 MNTHS.. HOW WE CAN TRUST THIS COMPANY. THEIR SUBSIDERY COMPANY IN INDIA IS ROCHESTOR INVESTMENTS BANGLORE AND COCHIN

Unfortunately, I haven’t heard anything about this company to provide a feedback. I’m very sorry. Hope you’ll be able to find reviews on some other sites.

I WISH TO KNOW MORE DETAILES ABT THIS COMPANY… MASTERFIELD FINANCIAL CONSULTANTS PVT LTD.. THEY OFFERS 200 TO 500% IN 3 MNTHS.. HOW WE CAN TRUST THIS COMPANY. THEIR SUBSIDERY COMPANY IN INDIA. IS ROCHESTOR INVESTMENTS PVT LTD. BANGALORE.

In Cyprus:

There is ICF (Investor Compensation Fund):
Part VII Section 59.-(1)
“.. There are three Investor Compensation Funds operating in the
Republic, the Investor Compensation Fund for Clients of IFs (ICF for
Clients of IFs), the Investor Compensation Fund for Clients of Banks
(ICF for Clients of Banks) and the Investor Compensation Fund for
Clients of Cooperative Credit Institutions (ICF for Clients of CCIs)…”

Section 58: Cyprus Investement Firms “…that are
authorised in the Republic are not allowed to provide investment
services without participating in the Investment Compensation Funds…”

Article 56. Level of Compensation
“…Subject to the provisions of subsection (7) of article 53, the compensation provided to investor-clients of members of the ICFs, , shall be of an amount of up to twenty thousand Euro (20. 000). Such compensation shall apply to the investor’s aggregate claims as against a member of an ICF, irrespective of the number of accounts held, the currency and location of the provision of service…”

In Canada:

Canadian Investor Protection Fund (CIPF).
In case of insolvency of a Forex broker who is a CIPF member:
“…MAXIMUM LIMITS OF COVERAGE
A limit has been placed by CIPF on the coverage provided for a customer’s General Account, and each Separate Account after combination with other Separate Accounts as described below, equal to $1 million for losses of securities, commodity and futures contracts, segregated insurance funds and cash…”

In US:

The Securities Investor Protection Corporation (SIPC)

“…The Securities Investor Protection Corporation either acts as trustee or works with an independent court-appointed trustee in a missing asset case to recover funds…”

“…When a brokerage firm fails owing customers cash and securities that are missing from customer accounts, SIPC usually asks a federal court to appoint a trustee to liquidate the firm and protect its customers. With smaller brokerage firm failures, SIPC sometimes deals directly with customers… ”

“…the SIPC reserve are available to satisfy the remaining claims of each customer up to a maximum of $500,000. This figure includes a maximum of $250,000 on claims for cash…”

In Germany:

BaFin – Deposit Guarantee and Investor Compensation

“…Institutions must cover their deposits and liabilities arising from securities transactions as provided for under this Act through membership of a compensation scheme…”

“…The amount of the claim to compensation is limited to

1. the equivalent of €50,000 of the deposits, and
2. 90 per cent of the liabilities arising from securities transactions and the equivalent of €20,000…”

In Switzerland:

Only banks can offer Forex trading since the introduction of a new Law last year.
Banks have investor compensation scheme, which for Swiss banks is 100,000 CHF in compensation guaranteed to investors in the event of bankruptcy of the bank.

Hi BG

Beside FSA UK, which country’s Forex Regulatory Bodies also have Compensation Scheme?

Thank You!

Hi BG,

It has been commented that lately some Brokers are putting “New Zealand based” on their web site. This is similar to that now seldom used “Delaware, U.S.A” based/registered that was so popular with most scammer brokers.

I am posting to warn Traders (especially Newbies) not to simply believe that Brokers claiming to be based/registered in New Zealand doesn’t make them honest or authentic.

Someone posted a reply from New Zealand Securities Commission (which was posted at FPA site):

“In New Zealand foreign exchange dealers are not required to be authorised unless the contracts they are offering are futures contracts. If the dealer is offering futures contracts it is required to be authorised by the Commission. “Futures contracts” is defined broadly under the Securities Markets Act 1988, and includes a variety of derivatives contracts which would not be considered futures contracts in other jurisdictions. Generally foreign exchange contracts which are cash settled and traded on a margined or leveraged basis are futures contracts, though this depends on the terms of the particular contract.

None of the dealers named in your email (16 of them which are listed at the FPA) are authorised or licensed by the Commission either as futures dealers or for any other purpose.

Companies Office records show that most of the companies named below have one of three individuals listed as their shareholder and director, and each of those three individuals uses the same address in the Philippines. This would indicate that almost all of these companies are operated by the same group of people. We will look into whether any of these companies is operating in breach of New Zealand law.

Regards
Hayden Best
Lawyer
Securities Commission
Direct Dial: 04 495 1681”
Extracted from the forum:
forums.babypips.com/newbie-island/35215-edgar-international.html

Where is india ?

Which are the regulatory bodies in Thailand and Malaysia?

FinFx is regulated with Fin-FSA.

Broker details can be found at: http://www.www.100forexbrokers.com/reviews-ratings/finfx

Hello,
Is it possible to get a completed and deep info about FinFx Trading Oy in Finland?
Is it true that it is not mandatory for a Fx Broker in Finland to be regulated by Fin FSA?
I have teste demo acconts in FinFx.fi and the experinece has been very possitive but I do´nt have total info about this Broker.
Thanks a lot
Best
C.

trader 5-Feb-2011:

If a Broker don’t bother to ask you for any verification of your address, then in all likelihood, the Broker is only interested in your deposit money as they do not expect you to withdraw any of your money.

Choose your Broker carefully and wisely…don’t go for Brokers that offer high attractive “rebates” and “bonuses” as ALL Brokers are out there to make money and those “high Rebates & Bonuses” have to come from somewhere and most definately not from the “goodness of the Broker’s heart”.

RahmanSL

They should ask for both documents:
– a passport, driver license or other valid ID – to verify you personal identity;
– and then additionally an utility bill – to verify your address.

Why some brokers don’t ask for the utility bill, I don’t know, but they should.

Why do some forex brokers require a copy of my utility bill as proof of address while some only need a copy of id card?

SmarttradeFX is not regulated.
In Canada, as far as I know, Forex brokers aren’t required to have any regulation. I would rather prefer to be wrong though.
In Hong Kong it supposed to be FSC of Hong Kong.

hi,
can u find out about smarttradefx.com ? they said their headquarter is in hongkong, but i found out
that they are from canada. what regulatory bodie that supervise them ? i’m thinking about opening an account
but i’m not sure they are regulated. please give me a link (if any) to their regulator saying that they are a member.
thanks in advance.

Not sure how to answer… “Too severe” comparing to what? Either way, I don’t think we can compare regulatory policies and powers in different countries much. MAS needs to do what they do, since quote:
“Singapore is the fourth largest FX centre globally and the second largest FX centre in Asia, after Tokyo. Average daily foreign exchange (FX) turnover volume in Singapore was US$266 billion during April 2010. http://www.mas.gov.sg/news_room/press_releases/2010/Foreign_Exchange_Survey_2010.html Read the press release on the BIS survey.”

Also, I don’t know what it means for MAS to be an ‘integrated supervisor’. Again, in which content? Can you provide quotes or references etc.

Also, what does it mean for MAS to be an ‘integrated supervisor’??

Do you think MAS’s powers are too severe? And if so, which powers would you regard as too severe???

In Brunei – Brunei International Financial Centre (BIFC) – http://www.finance.gov.bn

how about regulation in Brunei Darussalam?

Thank you so much

I understand we need to clarify about MiFID:

MiFID is not an organization. It’s a document – a directive from the European Commission of the European Union (EU). This document contains rules and guidelines to be followed by financial organizations in the countries which are members of the EU.

When a Forex broker mentions about MiFID, it simply means that the broker complies with the guidelines and principles outlined in the directive.
(MiFID stands for “Markets in Financial Instruments Directive”).

Thank you

Yes I`ll open an account with a forex broker in Malta – FXDD ( regulated with MiFID – MFSA )
and another who regulated with MiFID , So is MiFID strong like MFSA OR FSA ?

That`s what I ask about ? can you inform me please

Thanks in advance.

Markets in Financial Instruments Directive (MiFID) is a directive, guidelines from European Commission.

Malta Financial Services Authority (MFSA) – is a financial regulator in Malta.

I’m not sure what you mean when asking about my opinion, but in every country there is a FSA or a similar organization that supervises and regulates financial sector. If you look to open an account with a Forex broker in Malta, seek first of all for those that are regulated with MFSA.

Hello sir ,

Thanks you for this important information.

I have question , I did not see MFSA – MiFID in what I read above so what do you think about MFSA ? Do you know How much power and status they have ?

Thanks in advance.

In each country the regulation of the financial sector is done by both: the Central bank and the Financial Services Authority (FSA), which could be a subsidiary of the Central bank or act as an independent body. The initial role of the FSA is to strengthen the monitoring and regulation of the financial markets, and in this way allow the Central bank to focus on other important areas of financial regulation.

FSA authorizes, supervises and monitors all financial entities which conduct financial activities in the country: including banks, investment funds, brokers, insurance companies and financial advisers. Forex brokers require a license from FSA or from the Central bank to conduct brokerage activity in the country.

The EU is not a direct regulator of the Forex industry and its participants. The European Union is a cross national independent economic and political union of, currently, 27 countries. Its executive body – the European Commission – is responsible for proposing legislation in a variety of different industries. When it comes to the financial industry, the EU is very active in developing rules for Europe’s financial markets. European legislation comes in the form of Directives, which express the objective to be achieved. Among well-known directives you might have heard about:
– Markets in Financial Instruments Directive (MiFID)
– Third Money Laundering Directive
– Capital Requirements Directive (CRD) / Basel 2
– Transparency Directive

The rules of FSA domestic policy can differ from those suggested by the EU. But the idea is that while pursuing its own domestic policy, FSA is expected to be actively engaged in co-operation with the EU to achieve a better regulation in Europe.

XTB broker is regulated by Polish FSA. Regulation by either the National bank or by FSA doesn’t allow any room for violation of proper business conduct. Any individual trader can submit a complaint about the misconduct of his broker, which will be investigated. When found guilty, a broker will either lose a license or get a warning and pay penalties.

Hello, what is the difference if a broker is regulated by the central bank in the country (e.g. Czech Republic or Poland) but is not regulated with FSA?? Do they have to be regulated automaticly by the European Union?? Does FSA have different rules then the EU commision? Any help from your side will be appritated.

XTB is not FSA right?? If they are not but are regulated with Polish govermanet or national bank what should I expect compare to being them with FSA?? Can they do things different and cheat? 🙂

Thank you

In Singapore:
– Monetary Authority of Singapore (MAS) – http://www.mas.gov.sg
– Singapore Exchange (SGX) – http://www.sgx.com

Hello,

what are the regulators in Singapore?