Best ASIC Regulated FX Brokers ASIC Regulation 100 ...
Best FCA Forex Brokers - The most Reliable List for 2020
UK Regulated Brokers - Forex Dominion
Best FCA Regulated Forex Brokers 2020 - FXEmpire.com
15 Best Forex Brokers 2020 - Comparebrokers.co
Forex Market Regulations – What Should Beginner Traders ...
IM Academy - Are they/their "Affiliates" breaking FINRA regulations on Communications with the Public?
For the uninitiated, IM Academy, formerly iMarketsLive, is an MLM whose scheme centers around a SaaS model for their forex (foreign exchange) trading software. I'm still early in the research, but I think the way they get around the legal definition of a pyramid scheme is by providing referral commissions to their affiliates, who are the ones ultimately posting about their purported 'success' and the opportunities they want to share with their friends and families and doing the recruiting. Now, perhaps save for the ballsier MLM brands involved in health and wellness products, where running afoul of the FDA is the primary concern (and having worked as someone designing junk mail for a health food/grocery store [the owner of which was decidedly ANTI MLM, thank apollo] for a decade, I can tell you that the magic "These statements have not been endorsed by the FDA. These products are not meant to diagnose, treat, cure, or prevent any disease." is almost an impervious shield, if you're not a total sketchman and literally saying those things in the ad copy for the product), the SEC and the FTC are the regulatory bodies at play; and FINRA, I believe, is the US regulatory body overseeing forex, specifically. I dig economics. I like listening to economics shows. I've heard plenty of ads for forex trading solutions on the radio, and one constant is the inclusion at the end of the ad of a disclaimer saying, more or less, that 'Forex trading carries substantial risk and consumers should not trade more than what they can afford to lose', or something along those lines. Of course, the folks peddling IM Academy on facebook are just posting about the opportunity to make money trading forex. That got me thinking -- if the company is paying these guys commissions on referrals for the software, they are effectively communicating to the public. FINRA has some very specific guidelines on this (emphasis mine): Communications with the Public NASD Rule 2210, applicable to all FINRA members, prohibits firms from making any false, exaggerated, unwarranted or misleading statement or claim in any communication with the public. Rule 2210 is not limited to a broker-dealer's securities and investment banking business. A firm's forex-related communications—whether the firm is acting as a dealer or is soliciting forex business for a dealer—must be fair and balanced and based on principles of fair dealing and good faith, and firms must provide a sound basis for evaluating the facts regarding both the forex market generally, as well as the customers' specific transactions. These obligations may not be waived or met by disclaimer. New FINRA member firms that engage in forex-related activities must file their advertisements with FINRA. Rule 2210 requires any firm that has not previously filed advertisements with FINRA to file all of its advertisements at least 10 days prior to first use; this filing requirement continues for one year from the first submission. Rule 2210's internal approval, filing requirements and recording-keeping provisions also apply to forex-related communications. The rule requires that a registered principal give written approval of all advertisements and sales literature prior to use. Rule 2210 prohibits predictions or projections of performance, or the implication that past performance will recur. Communications used by firms in connection with retail forex activities may not tout future returns. The rule prohibits the omission of material facts or qualifications that would cause a communication to be misleading. Accordingly, firms' communications must adequately disclose the risks associated with forex trading, including the risks of highly leveraged trading. Firms must also make sure that their communications with the public are not misleading regarding, among other things:
The likelihood of profits or the risks of forex trading, including leveraged trading;• The firm's role in or compensation from the trade;
The firm's or the customer's access to the interbank currency market; or
The performance or accuracy of electronic trading platforms or software sold or licensed by or through the firm to customers in connection with forex trading, including falsely advertising claims regarding slippage rates.
FINRA also reminds firms that SIPC rules prohibit references to SIPC membership or protection in communications regarding commodities, including forex.
Am I onto something here? Even if IM Academy seems to skirt around the traditional definition of a pyramid scheme, their affiliates are breaking the regulations the company, at least, is obligated to adhere to. This IM Academy scheme specifically seems particularly predatory. I can see a vast gulf between being out a few hundred bucks on shitty inventory you'll never push and forex leverages, which can sometimes mean you losemore than you put in.
An online broker has as its regulatory body the one corresponding to the country in which it is based. Therefore, those online brokers based in the United Kingdom will be subject to FCA surveillance and control. In order to offer its services, the broker must obtain a license granted by this same institution. The requirements demanded by the FCA to grant such a license are demanding and ... Without these regulatory bodies overseeing forex transactions, traders would be left unprotected in front of scammers and illicit activities. However, these regulatory bodies alone are not enough to ensure the protection of your assets. As a trader, you need to ensure you are only doing business with a regulated forex broker. By the same token, though, any company that is not part of the FCA should be avoided. They are a strong regulatory body, and only companies that can provide proof of consistently high professional standards will reserve the right to open its doors to customers. What Can They Do? So, the FCA has a lot of power after it was given royal ascent through the Financial Services Act 2012. This allowed ... The FCA (former FSA) is an important global regulatory agency that gives out licenses and keeps an eye on UK based brokerage firms. On this page you will find the best FCA regulated Forex Brokers ... Home » Forex Regulation Forex Regulatory Bodies » Best ASIC Regulated Forex Brokers 2019. Best ASIC Regulated Forex Brokers 2019 One of the most critical aspects when choosing a Forex broker is to check its license to operate. In other words, if it has the right to operate in the jurisdiction. Or, if it is legally regulated. Who cares, you might ask? As a trader, you should care. Would you ... When choosing a forex broker like XTB the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk. Regulated brokers will not manipulate market prices. When you send in a withdrawal request to a reputable broker the withdrawl request will be ... The role of regulation in online currency trading With an average of $5.3 billion being traded every single day on the Forex exchange market, it is without a doubt the biggest global financial ...
Investous Review - Safe or a Scam? What we Found Out
Investous seems to be targeted towards beginner traders and has a developed a platform as such. It could be worth your while if you are looking for a no frills regulated CFD broker. Global prime review 2020 - Forex brokers Australia [pros & cons] Global Prime is an Australian broker who provides its services worldwide. While the firm tar... Stanford Health Care Recommended for you 1:39:37 Quran 36 Ya Seen Arabic to English Audio Translation and Transliteration by Meshari Al Afassi H - Duration: 28:30. On 12 November 2014, we fined five banks - Citibank, HSBC, JPMorgan Chase, Royal Bank of Scotland and UBS - £1.1 billion for failing to control business practices in their G10 spot foreign ... EMA STUDENTS KILLING THE MARKET 2&3 April 2020 We Have A Playlist Here At KINGS OF FOREX SO MAKE SURE TO CHECK OUR PLAYLIST FOR THE CONTENT YOU LIKE ABOUT FOREX TRADING TRY MY BROKER - open a ... Intelligent Forex Trading Review - You should scroll straight down on to obtain the benefits to your information in addition to exactly how it could possibly enhance your health. Intelligent Forex ... CONTACT: EMAIL: [email protected] WEBSITE: www.teamtakeprofits.net FACEBOOK: Jay Wayne INSTAGRAM: JayTakeProfits Joe Giunta Youtube Channel: https://w...