Forex Broker Registration & Licensing With Forex being one of the biggest industries in the world at the moment, there is a rise in people who are taking advantage of that trend. All Forex companies work online making it easy for a con man to open a fake Forex broker and pull of an internet scam. For new comers it may be confusing and a little scary to invest money online without knowing if they’ve found a legal Forex broker. Some hugely reputable brokers are well known making it easy for any trader to trust them, but if you are not planning on trading with these select few there is an easy way figure out if the company you choose is authentic. All Forex companies are regulated and licensed in order to operate as financial institutions, regulators exist in every country and internationally. In Cyprus Forex companies are regulated by CySEC (Cyprus Securities and Exchange Commission), in other countries there are other regulators like the UKs FSA, some regulators are for zones like the EEA which regulates all European countries. A company can be licensed by a local and an international regulator at the same time, but no matter what a company needs to be licensed under at least one authority. This is stated in their website, on the homepage or under regulations and licensing. The authority regulating the company should be clearly stated so should their License number. If it is nowhere to be seen, customer support should be able to provide the details upon request. When a company is regulated by an authority it will be listed under that authority, and once you get the officially registered name of the company, you can contact the regulating authority and ask if this company is listed under them. Keep in mind some companies are licensed under the license of another company, in this case only the name of the ‘mother’ company will be added to the regulating authority. But the company registered will be taking full responsibility for the actions of the company that is operating under it, therefore ensuring that this company is safe. fxnet/news/forex-broker-registration-licensing FxNet Ltd is a global, fully licensed Over the Counter (OTC) online Forex and commodities broker, regulated by the Cyprus Securities and Exchange Commission (CySEC). FxNet is located in Limassol Cyprus. FxNets mission is to reach and retain traders around the globe through exceptional customer service, integrity and continuous innovation that will provide our clients with simple, exciting and secured trading platforms.
Posted on: Fri, 24 Jan 2014 09:49:44 +0000
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