Forex Broker Review
Does your FX broker have the required licenses to operate within the European Union?
Before investing your hard earned funds with an online FX broker, it is essential to verify whether the trading platform has the legal authorization to offer trading services in your country. To operate within the EU, a Forex broker must have an authorization granted by a Market Regulator from at least one of the EU Member States.
The majority of the brokers are based in Cyprus and thus obtained their license through the Cyprus regulator: CySEC, which monitors the compliance of brokers’ activities and imposes sanctions to them in case of misconduct.
It is also necessary to verify brokers legal authorization on CySEC website to confirm whether they are registered as an investment firm. It is important to verify that the information provided on the website of the broker is identical to the data on CySEC register.
A prior review of your broker reduces the risk of investing your money with an online platform that does not comply with the European regulations and operates illegally in EU countries.
If you have the feeling that you may be the victim of broker misconducts, contact us for a free consultation.