Forex Broker Regulation exists to make sure clients are protected and that the brokers don’t do just anything they want with clients’ money. Some Forex brokers don’t have a license. You don’t want to be doing business with these kind of brokers.
The easiest, obvious ways to check Forex broker regulation are to:
Ask them directly
Most Forex brokers these days have a live chat system available. To find if your broker is regulated, the best would be to ask them directly through their live chat. However, some brokers won’t be available to chat on weekends and it may happen that you need this information fast to decide on something else. In that case the next option would be to:
Check their website
You can peruse their site to find such information. Usually this kind of information is found in the footer (at the bottom) of your broker’s website. You have to be careful with this one though, because most sly brokers will state or make a reference to some regulation, but if you take time to read the fine print, you might realise that they are not at all regulated. They may write that the follow some principles and guidelines of a regulation. But this doesn’t that the broker is under a regulation. Most people don’t read fine prints so some brokers take advantage of this. You need to make sure you read through all the text that your Forex broker publishes about their regulation.
Check external references
Checking external references for details about Forex brokers might be the best option here. One good source I know of is Forex Church. On the top right-hand corner of this table you can see a button that says “Advanced Search”. You could put in the parameters to see if you’ll find your broker there. Or double check if your broker appears in the list of regulations that your broker claim to be under, assuming you asked them earlier in a live chat.
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