There is no centralised governing body for the Forex market and a virtual broker does not need a license to operate. The rise in popularity of online brokers has meant that a number of localised regulatory bodies have formed in recent years.
These organizations insist that their licensed brokers undergo some level of compliance to safeguard customer funds. They also offer traders with a watchdog in the rare case of misdemeanours or unjust operations by an unscrupulous broker. These safeguards make regulated brokers a highly attractive proposition, however, there are many unregulated brokers who also provide a fantastic service, and are truly worth considering.
We recommend that you research a broker before signing up with them. We test and review each of our recommended brokers thoroughly before presenting them to you, regardless of their regulatory status. Once they have been tested and approved, they are added to our lists of approved brokers. Each broker that is presented to you at TradersAsset is committed to providing a safe trading environment and a fantastic, seamless trading experience. This is a brief guide for trading Forex by territory.
Simply look up the country or continent you live in from those listed below, then follow the links to be presented with a range of Forex Brokers that we have verified and selected especially for you. Currency Traders from the United Kingdom have no restrictions placed upon where they may trade currencies online. Brokers that are licensed and regulated by the FCA are ideal for UK based customers, and offer additional reassurance of a painless trading experience.
The UK is one of the main hubs for financial trading, therefore many brokers recognise the benefits of offering trading accounts in GBP. The brokers presented here offer GBP trading accounts, and a range of attractive banking options suitable for UK traders.
Not all Brokers will be able to accept you as a new customer. American traders will only be allowed to trade with brokers that have gained approval from the two main industry regulators in the US. These regulators oversee and ensure that retail Forex Brokers accepting US traders are operating to the highest standards, and they only license a handful of companies.
Australian traders have no restrictions on which brokers they may use and all Brokers recommended here have been approved for traders from Australia. Trading with these regulated brokers will offer an additional level of safety and peace of mind but all our recommendations are suitable for you. The brokers presented here provide Australian traders with a number of banking options and facilitate hassle-free withdrawals upon request. Online trading is allowed and there are no strict restrictions enforced on the Forex markets by Canada.
European traders have the unique position of being in a market with hardly any restrictions to online Forex trading, and being one of the most regulated.
There is no single European regulatory body, however there are many local regulatory commissions and authorities that oversee Forex Brokers based in Europe. You can find a selection of brokers recommended for European traders here. We recommend trading with brokers reviewed and approved by TradersAsset. We review and test all brokers we present to you and we are confident they will offer a fantastic trading experience. No matter which brokers you choose to trade with, here are some features to check before signing up.
Top 20 Forex Brokers No. Broker Deposit Bonus Leverage Review 1. Close Window Loading, Please Wait! This may take a second or two.More...