The forex market is a huge one, with billions of dollars being traded every month. Since the majority of trades occur online, it is important to have some sort of protection for your funds.
A good forex broker must be honest, and transparent. They should also protect the interests of users and manage their funds the right way. This is ensured by the top regulatory authorities in the industry. Speaking of which, some of the well-known names are FCA, ASIC, and CySEC.
When looking for regulated brokers, you should check if they fall under any of these regulatory authorities. This way you can ensure protection for your funds and privacy.
Below is the list of the best-regulated brokers in the forex market:
If you have been in the forex market for a while, you probably have heard about XTB brokers. They are regulated and licensed by 5 regulatory authorities. This includes Financial Conduct Authority, CySEC, Polish Securities and Exchange Commission, Belize International Financial Services Commission, and Comision Nacional del Mercado de Valores.
Founded in 2012, BDSwiss is one of the most popular brokers in the industry. Like XTB, BDSwiss is also authorised by multiple regulatory bodies including CySEC, Mauritius Financial Services Authority, and Financial Services Authority Seychelles. BDSwiss includes various other organisations that are regulated by their jurisdictions.
FxPro has built its reputation in the forex market over the years. They aim to provide secure trading facilities to clients. It has been regulated by various subsidiaries in 5 different jurisdictions. Just so you know the FxPro traders belong to the FxPro Group Ltd, which is operated by various subsidiaries including FxPro UK Limited, FxPro Financial Services Ltd, FxPro Global Markets Ltd, and FxPro Global Markets MENA Limited.
AAATrade is yet another forex broker service that is duly authorised by CySec. All the business activities carried out by the company are governed by the Markets in Financial Instruments Directive. AAATrade is a trusted broker service because they are regulated by some of the top EU regulatory authorities, such as the Financial Conduct Authority, the Comisión Nacional del Mercado de Valores, and the Federal Financial Supervisory Authority.
The ActivTrades is one of the oldest forex brokers. They started operation in 2001 and since then they have been offering quality trading services to clients. They allow trading on CFDs on stocks, the Forex market as well as ETFs. They also have six different types of assets. The company has its headquarters located in London. Besides that, they have branches in other places such as Nassau, Sofia, and Milan. The company is licensed by the FCA and the SCB.
If you are new to forex trading, you can trust these brokers for forex trading. As you can see, all these brokers are regulated by the top regulatory bodies in the industry.