Forex Regulations

Forex Regulations
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The ability for the man-on-the-street to trade Forex is a recent development. Rapid development of communications technology has allowed a huge increase in the number of people who can now trade currencies.

This has led to the influx of a great deal of new money into Forex and made Forex the largest of the exchanges. Because of this rapid growth of Forex, the number of brokers offering Forex trading has also continued to grow astronomically.

With the proliferation of brokers, there’s fierce competition for traders’ accounts. It can look like paradise to a trader with offers of no-commission accounts, bonuses and low spreads.

But don’t be hasty. As with every financial market, there need to be limits and rules established for the safety and security of the traders.

Protecting you

Several regulatory bodies have been established to oversee Forex. They’re doing at least part of your job of keeping an eye on your broker.

While a non-regulated broker may offer what look like great deals to potential traders. A trader can feel more secure in their investment by choosing a regulated broker and the benefits of regulation.

In order to be qualified as a regulated broker, the broker must meet and adhere to established standards and limitations. The regulatory body reviews the broker’s practices from time to time to ensure continued adherence to these standards.

We have all seen how quickly financial instability can pull the rug out from under a financial sector and how rapid changes in market conditions can fatally damage even the most stable company.

To protect traders under these conditions, most regulated brokers maintain segregated accounts. That means the broker is not able to use the funds in the traders’ accounts for any reason.

Having problems with the broker?

If you have concerns about your brokers’ practices and feel that your investment may be in danger due to non-standard activities. You have the option of contacting the regulatory body that oversees your broker and make a report.

Regulatory bodies are located all over the world. It’s obvious that you’ll have an easier time making contact with and probably get a better response from a regulatory body located in your own country.

The final decision of selecting a broker is entirely up to you, and the consequences are ultimately your own responsibility. So it’s critical that you take the time to verify both your broker and your broker’s regulatory body before opening a trader account.

Please find below list for country-wise Forex regulatory bodies

Country Regulatory Board
Anguilla Anguilla Financial Services Commission
Antigua Eastern Caribbean Securities Regulatory Commission (ECSRC)
Australia Australian Securities and Investment Commission (ASIC)
Azerbaijan State Committee for Securities (Azerbaijan)
Baku Stock Exchange
Bangladesh Securities and Exchange Commission (SEC)
Belgium The Financial Services and Markets Authority (FSMA)
Belize International Financial Services Commission (IFSC)
British Virgin Islands BVI Financial Services Commission (FSC of BVI)
Bulgaria Financial Supervision Commission of Bulgaria (FSC Bulgaria)
Canada British Columbia Securities Commission (BCSC)
Canadian Investor Protection Fund (CIPF)
Financial Transactions and Reports Analysis Center of Canada (FINTRAC)
Investment Industry Regulatory Organization of Canada (IIROC)
Ontario Securities Commission (OSC)
Ombudsman of Banking Services and Investments (OBSI)
Cayman Islands The Cayman Islands Monetary Authority (CIMA)
China China Securities Regulatory Commission (CSRC)
Croatia Croatian Financial Services Supervisory Agency (CFSSA)
Cyprus Cyprus Securities and Exchange Commission (CySEC)
Czech Republic Czech National Bank (CNB)
Denmark Danish Financial Supervisory Authority (Danish FSA)
Dominica Financial Services Unit (FSU)
Dubai, UAE Dubai Multi Commodities Centre (DMCC)
Dubai Gold & Commodities Exchange (DGCX)
Dubai Financial Services Authority (DFSA)
Emirates Securities and Commodities Authority (SCA)
Estonia The Financial Supervision Authority (FINANTSINSPEKTSIOON)
Finland FIN-FSA in Finland
France Autorite des marches financiers (AMF)
Banque de France
Credit Institutions and Investment Firms Committee (CECEI)
French Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Germany Federal Financial Supervisory Authority (BaFin)
Greece The Hellenic Capital Market Commission (HCMC)
Hong Kong Securities and Futures Commission (SFC)
Hungary Hungarian FSA (HFSA)
Iceland
The Financial Supervisory Authority (FME)
India Securities and Exchange Board of India (SEBI)
Reserve bank of India (RBI)
Indonesia Commidity Futures Trade Regulatory Agency (CoFTRA)
Ireland Central Bank of Ireland
Isle of Man
The Financial Supervision Commission (FSC)
Israel The Israel Securities Authority (ISA)
Italy Commissione Nazionale per le Società e la Borsa (CONSOB)
Japan Financial Services Agency of Japan (FSA Japan)
Japan Securities Dealers Association (JSDA)
Japan Investor Protection Fund (JIPF)
Tokyo Commodity Exchange (TOCOM)
Kenya Capital Markets Authority (CMA)
Kuwait Ministry of Commerce and Industry in Kuwait
Kuwait Chamber of Commerce & Industry (KCCI)
Latvia The Financial and Capital Market Commission (FKTK)
Lebanon Banque Du Liban
Lithuania The Lithuanian Securities Commission, Bank of Lithuania
Luxembourg Commission de Surveillance du Secteur Financier (CSSF)
Liechtenstein The Financial Market Authority Liechtenstein (FMA)
Malaysia Securities Commission Malaysia
Malta Malta Financial Services Authority (FSA in Malta)
Mauritius Financial Services Commission of Mauritius (FSC Mauritius)
New Zealand (limited regulation):
Financial Markets Authority (FMA)
Financial Service Providers Register (FSPR)
Financial Services Complaints Limited (FSCL)
Nevis Nevis Financial Services
Norway The Financial Supervisory Authority of Norway
Pakistan Securities and Exchange Commission of Pakistan (SECP)
Panama Superintendencia de Mercado de Valores – The Securities Market Superintence (SMV)
Ministry of Industry and Commerce (MICI)
Philippines Securities and Exchange Commission Philippines
The Bangko Sentral ng Pilipinas (BSP)
Poland Polish Financial Supervision Authority (PFSA)
Portugal Comissão do Mercado de Valores Mobiliários (CMVM)
Romania Romanian National Securities Commission (C.N.V.M.)
Russia FFMS in Russia (FCFR)
Centre for Regulation of Off-Exchange Financial Instruments and Technologies (CRFIN)
Seychelles Seychelles Financial Services Authority (FSA Seychelles)
Seychelles Licensing Authority (SLA)
Singapore Monetary Authority of Singapore (MAS)
Singapore Exchange (SGX)
Slovakia National Bank of Slovakia (NBS)
South Korea Financial Supervisory Commission
Sri Lanka Securities and Exchange Commission of Sri Lanka
Vincent and the Grenadines:
The Financial Services Authority
Sweden Swedish Financial Supervisory Authority (Swedish FSA)
Switzerland Association Romande des Intermediares Financiers (ARIF)
Swiss Bankers Association (SBA)
Swiss Federal Banking Commission (SFBC)
Swiss Federal Department of Finance (SFDF)
Swiss Federal Finance Administration (SFFA)
Swiss Financial Market Supervisory Authority (FINMA)
Swiss National Bank (SNB)
PolyReg
Geneva Chamber of Commerce (CCIG)
Organisme d’Autoregulation des Gerants de Patrimoine (OAR-G)
Tanzania The Capital Markets and Securities Authority (CMSA)
Thailand Securities and Exchange Commission, Thailand
Turkey Capital Markets Board – SPK
United Kingdom UK Financial Services Authority (FSA UK)
The Financial Conduct Authority (FCA)
The Prudential Regulation Authority (PRA)
Financial Services Compensation Fund (FSCS)
United States Commodities and Futures Trading Commission (CFTC)
Financial Industry Regulatory Authority (FINRA)
National Futures Association (NFA)
New York Stock Exchange (NYSE)
Office of the Comptroller of the Currency (OCC)
US Securities and Exchanges Commission (U.S. SEC)
Chicago Board of Trade (CBOT)
Securities Investor Protection Corporation (SIPC)
International organizations EU Commission
Ernst & Young (E&Y)
Financial Markets Association (ACI)
KPMG
Vanuatu Vanuatu Financial Services Commission (FSC)
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