Trusted & Regulated Forex Brokers 2021

Forex is the largest liquid market in the world. That’s why regulations are important. However, there are no central forex regulations to control all the brokers. Instead, there are several governmental and individual regulatory bodies that govern regulated forex brokers and trusted forex brokers.

As the forex market’s size is $6.6 trillion, which attracts both types of inventions and scammers. So, there are possibilities of getting scammed if you trade with unregulated forex brokers. Scamming is not the only drawback of unregulated brokers. There are many. However, you will understand the dark sides of unregulated brokers when you get to know the importance of forex regulations and trusted forex brokers. This article will help you to get yourself educated about best forex broker to start your forex trading with confidence.

19 ratings
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  • Mobile Trading: Yes
  • Demo Account: No
  • Robots: Yes
18 ratings
Review
No Bonus
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Terms & conditions apply
18 ratings
Review
No Bonus
Terms & conditions apply
Terms & conditions apply.
18 ratings
Review
No Bonus
Terms & conditions apply
Terms & conditions apply.

Trusted & Regulated Forex Brokers 2020

What are Forex Regulations?

Forex regulations are a type of financial regulation that works with the security for both brokers and traders. Regulations are some sort of rules and laws that all the brokers have to follow. However, there is no central regulation that is imposed worldwide.

Instead, some countries regulate forex brokers through different government bodies as well as individual organizations appointed by the government. So, if a broker wants to operate in a certain country, they have to follow that specific country’s regulations.

However, forex regulations are varied from countries to countries, which also depends on regulated forex brokers types.

The objectives of regulations are to ensure ethical and fair business behaviour. In their turns, all the regulated forex brokers have to compliances the imposed regulations for their own good.

Why is it important to work with Regulated Forex Brokers?

When you decide to get into forex trading, you must have to start your first step through a broker and their forex trading platforms. Furthermore, if your broker is not regulated, you might be in trouble. Trading with regulated forex brokers is important for many reasons. However, the following are the top reasons to trade with regulated FX brokers.

  1. Fund’s Safety

Brokers just don’t deal with your fund only. Moreover, they will deal with hundreds or thousands of traders like you. So, they need to keep all the funds separate as regulatory bodies always audit about those for the safety of your investments. Which ultimately means that your fund is safe with the regulated forex brokers.

On the other hand, unregulated brokers may not provide you with this kind of safety as they are not accountable to anyone. So, trading with regulated forex provides the safety of your fund.

  1. Fair Practices and Business Ethics

Another beauty of trusted and regulated brokers is, they always treat all the clients the same. They run their business transparent and ethical, which is a key point to be regulated. So, their compliance with the regulatory bodies ensures a fast and reliable service with quality service. Besides, reasonable prices without any hidden policies also glorify fair practice in trading.

  1. Deposit Insurance

Some regulatory bodies make the brokers to keep aside a mandatory compensation fund for the future. For example, regulatory bodies of Cyprus and the UK are designed in a way to protect customers’ funds. This means if regulated forex brokers become bankrupt or go out of business, they have to return the customer’s funds. That is why experts always encourage to trade with trusted forex brokers.  However, it depends on the regulations of a specific country.

For example, the Investor Compensation Fund (ICF) of the Cyprus and Financial Services Compensation Scheme (FSCS) of the UK would make the broker reimburse €20000 and £85,000 to the clients. However, you will get such benefits only from a regulated broker.

So, you know the importance of a regulated and trusted forex brokers, but how to find them? The next part will get you the desired answer.

How to choose a Regulated Forex Broker?

It needs a huge time and immense effort to choose regulated and trusted forex brokers. However, you will find the list of regulated FX brokers on our website. We looked at the following criteria when sorting the regulated brokers.

Forex Regulations

We never blindly trust a broker initially. So whenever we choose a broker, before looking at other particulars, the first thing we look at is the forex regulations. To do that, we look for the countries when a specific broker is operating. Then, we check with the relevant regulatory bodies if the broker is a member.

However, most of the top forex regulated brokers are the member of world-class supervisory entities such as Financial Conduct Authority (FCA) in UK, The Australian Securities and Investments Commission (ASIC) in Australia, The National Futures Association (NFA) and Commodities Futures Trading Commission (CFTC) for the USA, etc. Besides, there are some other regulatory authorities for different countries. You can check for yourself.

Trading Products

Next, we checked for the broker’s trading product offerings. In a broader sense, the forex products include platforms, accounts (mini, micro, standard, ECN), trading conditions, execution speed, the capability of analysis, and many more.

All these items are necessary for successful forex trading.

Client Support

Choose a forex broker that gives you the best client support, get back to you whenever you need their support. However, it is typical that you may get stuck or face any confusion while trading. In that case, you need prompt support.

So, we checked their promptness and accessories such as live chat, email, telephone, etc. Besides, we also checked if they offer support in various languages. Although we have found that most of the brokers are available for 25/7, they are swift in responding.

Popularity

Although many people look for popularity first. This is the last thing we look for because there are many popular brokers who are regulated, and it is risky to trade with them. To check the popularity, we have checked the reviews on different forums along with the geographical area they are located in.

Conclusion

Forex regulations can protect the clients and the regulated forex brokers at the same time. They protect you by ensuring your funds’ safety and make sure the brokers can’t cheat you in any way. So, it is highly advisable to trade with best forex broker which are also regulated.

On the other hand, regulated forex brokers get the safety of their business so that no trader can be involved in money laundering.