Brokerage license - one of the most important evaluation criteria when selecting a DC and forex broker. It shows what regulators are checking when deciding the quality of the brokerage company dealing in forex. What is difficult for traders forex?
1. Regulators issuing brokerage licenses in the world and the amount of difference between the two is huge and firm.
Accordingly, licenses are giving for different weight and value between brokers vary significantly. One case, for example, a license in the U.S. futures market regulator NFA, is quite different when giving license compared to Panama or Mauritius (which is licensed to the island of Mauritius was a notorious brokerage company Broco that has not paid to two traders of Academy Masterforex-V. Details Article Should I trust traders Forex broker’s license? )
2. Therefore, the rating of Forex brokers by Masterforex-V Academy, of 18 evaluation criteria DC, various brokerage licenses have different points
- 70 points the most reputable licensed brokers;
- 30 points - license state regulators of the structures;
- 3 points - non-government, self-proclaimed, market regulators, with no little influence on the forex brokers;
3. Licensed brokers - is a necessary but insufficient condition for the choice of DC to open a live trading account.
Academy of forex and stock market Masterforex-V warns novice forex traders , that the license of a broker does not guarantee a trouble-free trading. For example, Ikon Group 3 received the most senior and respected brokerage license in the world (FSA, CFTC, NFA) and ... did not calculate the trader Academy (details in the article Ikon Group has not paid the trader almost USD 20,000.). Therefore, consider the choice of the full range of brokerage 18 forex brokers rating criteria, as do professional traders do at the Masterforex-V Academy. Details in the chapter How to check the reliability of the broker with whom you are going to work
The most authoritative license for brokerage companies in the world
NFA (National Futures Association). This license has the following forex brokers:
- FOREX.com (Major League rating forex brokers Academy Masterforex-V)
- Forex club (Forex Club)
- FXDD
- BMFN
- Ikon Group
More in the article NFA (National Futures Association): that means their license for a broker forex exchange?
CFTC (Commodity Futures Trading Committee) . This license forex brokers received the following:
- FXCM
- OANDA (Oanda)
- GFT
Details in the article CFTC: the Commission Commodity Futures Trading ensures reliable broker?
FSA UK (The Financial Services Authority). Have its license
- FOREX.com
- FIBO Group
- ICM Brokers
- Saxo Bank
- FXCM
- OANDA
- GFT
Details in the article FSA: Britain controls the license forex broker?
State regulators:
Russia:
FFMS ( Federal Financial Markets Service) >>
- Finam
- EXNESS
- Alpari
- Grand Capital
- Admiral Markets
- Instaforex
TSROFR (Center for policing the financial markets) >>
License are:
- FX Clearing ;
- Anyoption;
- Dragon Options Limited;
- FOREX MMCIS Group ;
- FXCL;
- FX-Invest ;
- FOREX TREND ;
- Forex-Market ;
- LARSON & HOLZ ;
- RVMarkets.
Cyprus
CySEC (Cyprus Securities and Exchange Commission and Exchange Commission) >>
- Finam
- UWC
- Admiral Markets
- FOREXYARD
- FxPro
Switzerland
FINMA (Swiss Financial Markets Authority) >>
License are:
- MIG Bank
- Crown Forex
- Dukascopy Bank SA
Germany
BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) >>
License are:
- Alpari
- Tadawul FX
- Raw Materials Broker GmbH (RMB)
- FXCM
USA
SEC (The United States Securities and Exchange Commission) >>
FINRA (Financial Industry Regulatory Authority) >>
License are:
- ACM
- Dukascopy Bank SA
- Otkritie Inc.
- AK CAPITAL
- G-TRADE SERVICES LLC
- KENMAR SECURITIES INC.
SIPC (securities Investor Protection Corporation) >>
License are:
- Boston Merchant Financial
- QB Finance
- FIRST CLEARING LLC
- CV BROKERAGE INC
- BNP PARIBAS PRIME BROKERAGE INC
- AMERICAN CENTURY BROKERAGE INC
Canada
FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) >>
License are:
- FX Clearing
EU
MiFID (The Markets in Financial Instruments Directive) >>
License are:
- Admiral Markets
- Saxo Bank
- FxPro
- X-Trade Brokers DM SA
- Windsor Brokers
- ARGUS Stockbrokers Ltd.
Netherlands
AFM (The Netherlands Authority For The Financial Markets)
License are:
- TadawulFX.
France
CECEI (Comite Des Etablissements De Credit Et Des Entreprises D'Investissement)
License are:
- TadawulFX.
Greece
HCMC (Hellenic Capital Market Commission)
License are:
- TadawulFX.
Hungary
HFSA (Hungarian Financial Supervisory Authority); PSZAF (Hungarian financial market regulator)
License are:
- TadawulFX.
Ireland
IFCS
License are:
- Forex-Metal
Poland
PFSA (Polish Financial Supervision Authority)
License are:
- TadawulFX.
Luxembourg
CSSF (Commission de Surveillance du Secteur Financier)
License are:
- TadawulFX.
New Zealand
FSCL (Financial Services Complaints Ltd.) >>
License are:
- RoboForex
- Abbott Insurance Brokers Limited
- Brokerweb Management Limited
- Crombie Lockwood (NZ) Limited
- JP O'Neill Limited
- Gould Steele & Co
Mauritius
FSC Mauritius (Financial Services Commission Mauritius) >>
License are:
- YouTradeFX
- Broco
- FXopen
- NordFX
- Forex4you
The Republic of Botswana
Botswana IFSC (Botswana International Financial Services Centre) >>
License are:
- Aon Risk Management
- Imara Holdings Botswana Limited
- FINDEV (Proprietary) Limited
Association of brokers and dealing centers:
These associations do not carry any of a legal obligation. They are self-advertising and make "status" campaigns in the eyes of the uninitiated users. Their decisions are not binding. A striking example of this, is not enforcing their decision of KROUFR on the payment by a company Broco profit to traders of the Masterforex-V Academy.
KROUFR (Commission for Regulation of Financial Markets Relations) >>
Members:
- Forex Club
- Admiral Markets
- Group companies UMIS
- Alpari
- TeleTRADE
- MasterForex
- Adrenalin Forex
- Grand Capital
- Akmos Trade
RAFMM (Russian Association of Financial Market) >>
This license shall have the following brokers:
- Investment company United World Capital
- InstaForex
- LifeForex
- Investment group CorsaCapital
NAUFOR (National Association of Stock Market Participants) >>
Members:
- Investment Company "UFS Finance"
- "Absolut Invest"
- "Agency of stock investments"
- Brokerage Company "Region"
- Investment company "Blagovest"
- Investment Company "Finam"
- "Renaissance Broker"