The Governing Body
Knowing under which regulation a forex broker operates is undoubtedly one of the key things you need to check. Do you think all brokers are trustworthy?
Though their website might look professional, it is still possible that they are under no regulation.
They operate all around the globe and there is not one governing body that regulates all of them.
However, there are certain countries that have their own regulations, but yet again it doesn't guarantee that all the brokers are regulated.
Have you thought of considering the activities of the brokers to find out if they are well governed?
The essence of knowing the regulated ones is so that you are sure of a certain level of security, particularly for your withdrawal and deposit.
The good news, however, is that there are governing bodies around the globe that already identify the credible brokers.
This will make your decisions easier for you.
In the UK, there is the FCA (Financial Conduct Authority), in the US, CFTC (Commodity Futures Trading Commission) and Cyprus, Securities & Exchange Commission (CYSEC)