The most important global financial bodies to regulate the forex market

Regulating is one of the most important things in the forex market because the amount of money traded through this market daily. makes it vulnerable to fraudsters. Many fraudsters have found the easiest ways to deceive traders by setting up brokerages, taking traders’ money, and running away.

To ensure that forex brokers are qualified to conduct brokerage business and receive funds from customers. Several global financial bodies have been established to regulate forex markets and protect them from theft and fraud.

The most important global financial bodies to regulate the forex market

In our article today we will learn about the .concept of forex regulation, as well as the most important global financial bodies for forex market regulation.

Concept of Forex Regulation

Forex regulation is all about consumer protection. Regulators cannot deceive their clients, and when such infractions occur, regulators are authorized to apply appropriate penalties based on their jurisdiction laws.

Major Global Financial Bodies for Forex Regulation

Global forex regulators cover jurisdictions where most forex brokerage companies are located around the world. Given that it is not possible to have. forex intermediaries in all countries, as this market is decentralized, some traders in these countries open. and deal with trading accounts with external brokerage companies, and therefore rely on these bodies to keep their funds safe. One of the world’s most important financial bodies regulates the forex market:

CFTC (Commodities and Futures Trading Committee)

The Commodity and Futures Trading Committee. is an independent and highly respected regulatory body, with a well-regarded regulatory framework to ensure a fair and transparent market for commodities, options trading, and futures.

This body acts as an independent United States. organization for financial companies dealing in trade-offs and futures, including commodities and forex trading.

2. CySEC (Cyprus Securities and Exchange Commission)

CySEC entered the forex markets in 2001, starting with a regulatory environment suitable for forex brokers to establish their .business in a relatively lenient environment. The advantages of tax savings and easy regulatory frameworks for forex brokers helped to create a forex broker in one of Europe’s most attractive regions Cyprus’s popularity as a country has grown rapidly and CySEC has been one of the most preferred destinations for brokers given CySEC’s characteristic tax structure and somewhat diluted regulatory structure.

3. FCA (British Financial Conduct Authority)

The UK Financial Conduct Authority is one of the world’s most regulated global financial bodies for the forex market in partnership. with the Bank of England and the Prudential Regulation Authority, Although the UK’s corporate regulation process was implemented by the FSA before 2013, the FCA is part of the EEA Agreement. It allows FCA-regulated forex brokers to operate in any part of the EU without the need to establish any additional offices in any other European countries.

MFSA (Malta Financial Services Authority)

Malta is a member state of the European Union, with a stable political system, an excellent economy, and an environment. conducive to corporate prosperity. It also places great emphasis on the development of its economy to increase its financial stability through proactive efforts. such as creating a strong banking system and integrating modern technologies into financial markets.

The function of Global Financial Bodies in Forex Regulation

Global financial bodies regulate the forex market with many tasks and functions, and we will mention:

Licensing and supervising financial intermediaries.

Ensure that brokers comply with the separation of traders’ funds from corporate funds in special |accounts.

Ensure intermediaries’ compliance with reporting standards, requiring them to report periodically on their activities.

Carrying out penalties in case of a market violation, it is authorized to carry out a series of activities against the wrong intermediaries.

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