legitimate brokers should be regulated retail cashbackforexprofitcalculator cashback forex calculator Onl cashback forexe industry cashbackforexcalculatorOnline a profession that is concerned about integrity personal loss of money matter small, may be the level is not enough, bad luck, but at least let the trading public in a fair cashbackforexpipcalculator transparent rules of the game, rather than a black hand in the back of the mess, there is a force in the dark damage care trading public, to protect the safety of funds, this is the core task of the regulator The regulator is the traders protector one of the important bases for choosing a forex broker is to see whether the brokers country has a regulator, whether the broker is registered with the regulator regulators usually make the appropriate rules of the trade, in varying degrees to the behavior of the broker to play a restraining role, while trying to protect the interests of customers traders can check the brokers registration through their website The regulators generally meet three main demands of traders: audit the financial status of foreign exchange brokers; develop and enforce rules and standards to protect the interests of traders; arbitrate disputes related to foreign exchange trading Arbitration of disputes related to foreign exchange trading How was regulation born? 2000 years ago, the industry chaos For the world, the retail foreign exchange industry is an emerging field in the era without the Internet, in the eyes of the general public, foreign exchange is still a strange thing at the time of foreign exchange products, including only some foreign exchange futures contracts, a single rudimentary 2000 years ago, the United States of online foreign exchange trading has just taken shape because the threshold of entry is low, providing The number of foreign exchange trading companies once reached four or five hundred the typical characteristics of this period is a mixed bag, on the one hand, some companies through active innovation, improve the profit model and industry rules of the game, expecting later success; on the other hand, some companies simply desperate, the use of platform slippage and other harm to customers, or in the customer request withdrawal, all kinds of difficulties, delay, while Lure customers, again into the account, falling into the cycle, all hell will break loose In order to combat these black sheep, industry regulation came into being 2000 to 2002, the United States industry sunshine 2000 to 2002 the two years, the United States to achieve the retail foreign exchange industry sunshine, trading specialization, price transparency key factors are two one is the United States Government departments (CFTC) and industry self-regulatory organizations (NFA) regulatory intervention; second is the popularity of electronic trading platforms 2000, "Commodity Futures Modernization Act (2000 version)" (CFTCCommodityModernizationAct), gave the CFTC legal authority, making the U.S. retail foreign exchange industry into the legal system management Several leading foreign exchange companies, FXCM, MG, Gain, took the lead in registering as members of the CFTC and NFA, and began to actively cooperate with the CFTC and NFA related regulations, disclosing the companys shareholder information, disclosing financial statements, allowing customers to check the information of foreign exchange companies on the Internet, and even information on customer complaints From 2000 onwards, the CFTC increased its enforcement efforts and referred All the underground foreign exchange companies to the law, or deportation at the same time, requiring all companies providing foreign exchange margin trading in the CFTC registration, public financial information, and year by year to increase net capital from $ 250,000 to $ 5 million those who can still survive the foreign exchange companies are happy to cooperate with these newly introduced policies, because we know that the foreign exchange margin industry has finally come to spring & nbsp nbsp; In addition to the United States, as of the end of 2010, the United Kingdom, Switzerland, Australia, Canada, Japan, South Korea, Hong Kong, Singapore, Israel, Cyprus, Dubai are for retail foreign exchange, the establishment of the government and / or industry self-regulation of some regulatory bodies is a large unified mixed regulation, like the United Kingdoms Financial Services Authority (FSA) and the Swiss Financial Markets Supervisory Commission ( FINMA), some are dedicated to a particular industry, such as the U.S. National Futures Association (NFA) from the above countries can be seen, the establishment of regulation of the countries, most have a developed financial industry However, in many countries, financial regulation is still lagging behind product innovation Lets say that the government departments of these countries, the regulation of stocks, futures, treasury bonds, insurance, asset management, alone This does not mean that you cannot buy or sell foreign exchange, but you must pay high transaction costs - you must trade with banks, and customers can only accept the banks frighteningly high spreads and fees Typically, compared with the United Kingdom and the United States, the cost of foreign exchange trading in these countries is more than ten times higher Under the constraints of this policy environment, the inability to give birth to local laws Foreign exchange brokers, creating these countries and regions, the underground foreign exchange activities are unusually active, such as Taiwan the main regulatory bodies 1, the United States - NFA and CFTC In the United States, foreign exchange brokers are regulated by the CFTC (government regulators) and NFA (industry self-regulatory bodies), CFTC is the United States Federal Commodity Futures Trading The CFTC is the acronym for the Commission, the highest official regulatory and supervisory body of the futures industry in the United States NFA is the acronym for the National Futures Association As a self-regulatory organization of the U.S. futures industry, the NFA mainly regulates the fairness of transactions and accepts complaints from customers National Futures Association (NFA) official website: http://www.nfa.futures.org U.S. Commodity Futures Trading Commission (CFTC) official website:http://www.cftc.gov Brokerage Assets Monthly Report: http://www.cftc.gov/marketreports/financialdataforfcms/index.htm 2 The FSA (theFinancialServicesAuthority) is set up by the government, which defines its industry-regulated conduct and authority granted to this body by the Financial Services and Markets Act of 2000, and it is an independent, unofficial body that operates entirely on funds from regulated institutions. The FSA sets industry standards and requires regulated financial institutions and firms to comply with those standards. If they violate them, the FSA has the authority to require the violating institution to pay compensation to its clients; FSA website: http://www.fsa.gov.uk 3, the Hong Kong Securities and Futures Commission - SFC Hong Kongs regulatory body SFC (theSecuritiesandFuturesCommission / Hong Kong Securities and Futures Commission) is similar in nature to the FSA, but its duty statement is relatively specific, foreign exchange margin business Explicitly included in the scope of regulation, subject to the SFC in September 1994 to enter into the LFETO terms (LeveragedForeignExchangeTradingOrdinanceunderSecuritiesandFuturesOrdinance) this clause on the capital of foreign exchange brokers and other aspects are made The provisions SEC website: http://www.sfc.hk/sfc/html/EN 4, Australia - ASIC Australias regulatory body ASIC (AustralianSecurities& InvestmentCommission) in addition to the supervision of Financial institutions and companies, but also responsible for handling the opening of companies, operations and closure-related procedures to protect investors in two main areas: all institutions operating financial products first need to apply for a license (AFS); in March 2004, ASIC also issued more stringent standards to protect individual investors, these standards include: financial institutions need to obtain the necessary licenses, financial institutions must tell customers without reservation all the services, business practices, how to deal with customer complaints, etc. In addition, engaged in foreign exchange teaching, including network training institutions, are required to accept the certification or hold a license but ASIC does not have specific provisions for foreign exchange margin business ASIC website: http://www.asic.gov.au/asic/ asic.nsf 5, Canada - the provinces of the Securities Commission Canadas situation is slightly different, there is no a unified regulatory body, but by several major provinces of the Securities Commission (theSecuritiesCommission) to manage these securities commission on foreign exchange margin without specific regulations, only those required to conduct foreign exchange training In addition, they are generally more cautious about foreign exchange margin For example, the Ontario Securities Commissions website reminds customers that foreign exchange trading is suitable for those who can bear the risk, because it is high-risk, there may be fraudulent Ontario Securities Commission website: http://www.osc.gov.on. ca/ 6, Japan - Financial Services Agency Japans Financial Services Agency officially promulgated the Foreign Exchange Trading Law on July 1, 2005, requiring the registration of institutions operating foreign exchange, and the capital of the company as well as the experience of the companys operators Japans Financial Services Agency website: http://www.fsa.go.jp/
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