Regulation of Forex Brokers (Part 2)

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British Financial Regulatory Body : FCA (Financial Conduct Authority)

The Financial Conduct Authority (FCA) is the most important financial regulatory authority in the United Kingdom. This organization operates autonomously from British government and is fully funded by the firms it regulates. It is a transparent body that provides comprehensive information to firms, consumers and others on its policies, objectives, regulations and more. The FCA has great power in the UK to introduce regulatory regulations, as well as inspection and enforcement powers in order to ensure that meet its goals. London is currently one of the largest and most diverse financial markets in the world and among its functions, the FCA is responsible for preventing any criminal practices related to the market such as money laundering, fraud, abuse or dishonest trading practices.

Below is a list of some of the brokers regulated by the FCA :

- XTB

- Fortrade

- eToro

- HYCM

- Exness

- Plus500

- Tickmill

- Valutrades

Australian Financial Regulatory Body : ASIC (Australian Securities & Investment Commision)

ASIC is the Australian regulatory entity in charge of controlling companies offering financial services in Australia in such a way as to ensure that they operate with complete integrity and transparency. For this purpose, ASIC is in charge of providing licenses required for operation, whereby only those companies that comply with the strict regulations of this body can offer any type of financial service in australian territory. The ASIC is an independent governmental body which was created and administered under the Australian Securities and Investment Commission Act (ASIC Act). In general, the ASIC's work is to maintain, facilitate and improve the performance of Australian financial system.

Below is a list of some of the brokers regulated by the ASIC :

- FP Markets

- EasyMarkets

- IC Markets

- Pepperstone

- Axitrader

- ThinkMarkets

- FXOpen

Cypriot Financial Regulatory Body : CySEC (Cyprus Securities and Exchange Commission)

After having spoken about the financial regulatory bodies of Australia and the United Kingdom, we include Cyprus, since in this small country, many brokers have installed their main offices due in part to its tax advantages that have led to multiple companies to carry out their operations there. Cyprus is currently considered a tax haven where low taxes are charged, which is used by many companies, including brokers. The financial regulatory authority is the Cyprus Securities and Exchange Commission (CySEC).

The CySEC is a commission that is in charge of regulating Cypriot financial markets and according to its regulations and its objectives, it is in charge of ensuring that all the organizations under its supervision comply with the financial guidelines of the European Union and Cyprus as part of this. The CySEC is a public body that supervises the operations carried out in the financial markets by companies based in that country. Among its functions, the CySEC is responsible for granting operating licenses to investment companies and conducting inspections between organizations dedicated to providing financial services, such as brokers.

Below is a list of some of the brokers regulated by the CySEC :

- XM

- HotForex

- RoboForex

- EasyMarkets

- Exness

- FXCC

- Orbex

- IQOption

(To be continued ... )