Regulated Forex Brokers
A regulated forex broker is one which has been approved by various government regulatory bodies and therefore are required to abide to regulations. With regulated stock broker you can make complaints to the relevant regulatory body should you feel you have a case.
Choosing a forex trading broker can be the best choice for a novice as the currency exchange market can be a very complex place to delve into on your own. Trading currency is highly risky. It demands calm temperament in the midst of unpredictability. As such not every investor, is suited or willing to immerse themselves in such a high pressure, fast moving environment of the forex market where swings are commonly pendulum-like. Before deciding to invest in foreign exchange, it is necessary to carefully consider your investment objectives, level of experience, and risk appetite. If you have any doubt, it may be best to obtain the services of a forex broker that suits your trading style.
Some of the questions to ask are:
Is the broker regulated?What kind of trading platform do they use?
Is the company a Dealer or Broker ?
How much will it cost you?
Have they got a good customer support?
What are the real dealing size boundaries?
What other extras are they offering?
What are their leverage and margin call policies?
Countries with regulatory bodies are as follows:
Countries with dedicated regulatory authorities are as follows:
Australia : ASICCanada : OSC
Denmark : DFSA
Germany : BAFIN
Japan : FSA
Switzerland : GSCGI Polyreg OAR-G ARIF CFB SFDF
United Kingdom : FSA