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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.


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Broker discussion area

trader

April 3, 2012

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?


trader

April 3, 2012

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


BrokerGuru

January 30, 2012

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

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


trader

January 27, 2012

what about in norway


trader

January 27, 2012

What are the regulators in Greece ?


BrokerGuru

January 17, 2012

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/)


trader

January 13, 2012

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


trader

January 13, 2012

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


trader

January 8, 2012

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.


trader

January 8, 2012

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.


BrokerGuru

December 4, 2011

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


trader

December 4, 2011

Is there something in Israel ?


BrokerGuru

November 27, 2011

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


trader

November 23, 2011

What body regulates forex trading in the Philippines?


BrokerGuru

November 12, 2011

In Nigeria:

Securities and exchange commission of Nigeria (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.


trader

November 9, 2011

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


BrokerGuru

October 15, 2011

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.


Khizer

October 14, 2011

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


BrokerGuru

October 4, 2011

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


trader

October 2, 2011

Hello, I want to know for Mauritius
Thx


BrokerGuru

September 27, 2011

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


trader

September 27, 2011

where are the v3fx dubai office


trader

September 26, 2011

I am from Bangladesh.


BrokerGuru

September 9, 2011

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_...

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


trader

August 21, 2011

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.


BrokerGuru

August 13, 2011

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


trader

August 12, 2011

who regulates forex in Nevis


BrokerGuru

July 7, 2011

Hi Rustam,

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


Rustam

July 5, 2011

Hello
What are the regulators in Azerbaijan?

Rustam


BrokerGuru

July 3, 2011

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.


trader

June 28, 2011

hello, v3fx is real or scam


BrokerGuru

June 15, 2011

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.


trader

June 13, 2011

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


trader

June 13, 2011

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


trader

June 13, 2011

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


Pankaj kumar

June 13, 2011

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.


alaa al kadi

April 26, 2011

Thank you so much
alaa al kadi - syria


BrokerGuru

April 20, 2011

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.


trader

April 19, 2011

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


BrokerGuru

April 16, 2011

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.


trader

April 12, 2011

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.


BrokerGuru

April 10, 2011

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.


trader

April 9, 2011

Hi BG

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

Thank You!


trader

March 24, 2011

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


BrokerGuru

March 23, 2011

trader

March 23, 2011

Where is india ?


BrokerGuru

February 26, 2011

trader

February 23, 2011

Which are the regulatory bodies in Thailand and Malaysia?


BrokerGuru

February 21, 2011

FinFx is regulated with Fin-FSA.

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


C.

February 21, 2011

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.



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