Best forex broker
In the world of online forex trading , most of the forex trading investors prefer to choose registered forex brokerage firms as opposed to non registered forex brokers. Insuring that the forex trading broker you have recently selected for your forex trade is a registered and regulated forex brokerage company or firm is really an important criterion that every forex trader should look at before picking out a forex broker. All local forex brokers are usually attached with the local regulatory authorities but selecting the right regulated forex broker is indeed a difficult decision to make. Every forex broker offers different features and different forex trading tools. But how will you find out that your forex trading broker is regulated or not?
In order to find out whether, your forex online trading broker is a registered forex broker or not, you have to check out carefully what country the forex trading broker is cross filed in. For instance, the CFTC or Commodity Futures Trading Commission and National Futures Association (NFA) are responsible to regulate the forex trading brokers in USA. Similarly Swiss brokers have to regulate themselves from Swiss Federal Department of Finance (SFDF).
Some Major and Common Regulatory Authorities that Monitor regulated online forex online trading brokers are as follows:
There are basically three major regulatory authorities that monitor the working of online forex brokers and these are CYSE of Cyprus, FSA of United Kingdom and NFA of the United States. Other common regulated authorities are DFSA of Denmark, OSC of Canada and FSA of Japan.
Top forex brokers
The main objective of these regulatory authorities is to strictly audit and monitor the forex brokers to ensure that the forex brokers are not violating the rules set out by the regulatory authorities. Divergence from the guidelines and rules set out by the regulating authorities may result into the financial fine and the cancellation of the license of the forex trading broker.
Trading Facilities Offered by Regulated Forex Trading Brokers
After choosing out a right regulated forex trading broker, the next important step is to check out the transparency of the online forex trading broker’s platform. This step is important because there are some brokers that might try to cheat you and sometimes they often charge you higher than you expect. If you are a beginner forex trader then try to choose those registered forex trading brokers that offer you with precise guideline and EBook on online forex trading. Make sure that the EBook offers you quality information on forex trading strategies and on forex trading tools.