The role of the financial regulators is to oversee the financial markets and companies. With the increasing popularity of the forex market and trading, fake and illegit broker companies are also arising in order to scam the investors and take away all their investments. The brokers and companies should be regulated and licensed in order to offer their services to the people. The absence of regulation from these financial regulators makes it clear that the broker is a potential scam broker. These regulators, therefore, keep an eye on the forex brokers and their activities. They also conduct research on these companies to know the legitimacy and authenticity of the broker. Several warnings have been issued against several brokers stating that the particular broker is not a good fit for the investments and should be avoided to keep your funds safe.
Check out the below-mentioned financial regulators of the various countries. These regulators have blacklisted many fake, illegit and scam brokers. They have warned the investors regarding their suspicious activities.
Austria – Financial Market Authority (FMA)
Belgium – Financial Services and Markets Authority (FSMA)
Switzerland – Financial Market Supervisory Authority (FINMA)
Spain – Comisión Nacional Mercado Valores (CNMV)
France – Autorités des Marchés Financiers (AMF)
Italy – Commissione Nazionale Società Borsa (CONSOB)
Malta– Malta Financial Services Authority (MFSA)
New Zealand – Financial Markets Authority (FMA)
United Kingdon – Financial Conduct Authority (FCA)
United States – Securities and Exchange Commission (SEC)
Australia – The Australian Securities and Investments Commission (ASIC)