Whilst not all countries have a regulatory body which monitors forex brokers, we recommend that if you live in a country listed below, you first check out the brokers on our lists as they will be regulated by a regulatory body in their country.
Why trade with a regulated broker?
The forex market is de-centralised. What this means is that there is no central organisation who controls and manages how trading is conducted. This leaves the market open to some bad operators who are in there to take advantage of clients. As the amount of forex fraud increases, many goverments have stepped in to regulate forex brokers who operate in their country and accept clients from that country.
Generally, it is a government financial regulator who approves forex brokerage firms to operate in their country. They must abide by strict rules and operational standards to ensure that no clients are being ripped off.
By trading with a regulated broker, you minimise the risk of fraud and if there’s ever a complaint that you want to make, you will have a local contact to go to. Therefore, it is one of our golden rules to trade with a regulated broker in your country where possible.
What if I live in a country without regulation or a local broker?
There are many conuntries who don’t have forex brokers operating locally or have a regulatory body to oversee forex trading. In these cases, you are still able to trade safely provided that you select a broker who is regulated in another country. Our website does not list unregulated brokers so any broker you find on our website is safe, but we would advise you to stick to the brokers listed in our top forex brokers list. The brokers on the list have been assessed by us to hold large amounts of credibility which we can be confident of in recommending to you.
|New Zealand||FMA, FSPR, FSCL|
|United Kingdom||FCA UK|