Germany has been known as one of the European countries with the strongest and most stable economy. Germany is also known as one of the major forces that drive and affect the financial market in Europe. It is quite logical if the Forex transaction and brokerage in Germany has its own official organization or body. The regulations in Germany is issued and monitored by the FFSA (Federal Financial Supervisory Authority) or also known as the BaFIN (Bundesanstalt für Finanzdienstleistungsaufsicht).
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The Role of BaFIN
You can say that BaFIN has a quite important role in managing and monitoring the financial market in Germany. The organization is responsible for supervision and also regulation of financial institutions in German. There are more than 4,200 institutions and they are having various forms and functions, including financial services, banks, insurance companies.
BaFIN supervises all the financial activities without exception, and it includes Forex brokers and also businesses. If you want to know the details of the organizations, feel free to come to the official website. They have sections of different categories, such as Press and Public Relations, Vacancies, History and Functions of the organization. It also has information about the legal bases.
If you are interested in making an investment in the Forex trade, you can check the official website and find the lists of the trusted brokerage firms. The information is quite valid and detail, with the name of the broker, the detailed information, the provided bonus, and also open account section.
BaFIN keeps the database for all accounts in their regulated brokerage firms in the country. So that it is always advisable to hire a regulated brokerage because they are monitored and supervised by the legal body. Since all brokers are required to provide updated information to BaFIN, you can be sure that your investment will be safe and sound.