What are regulators ?

Marketplace is an over-the-counter market based on free currency conversion, so it is characterized by a rather high degree of state non-interference and lack of meticulous control by officials. Nevertheless, there is no complete anarchy in the currency market, and this is to the credit of the following regulators .

UK Regulators: FSA

For example, in such financially powerful countries as Great Britain and the United States, there are long-standing and successful organizations that monitor eligibility in the turbulent stream. In the United Kingdom, the role of strict regulator The Financial Services Authority (FSA) is the Financial Services Authority (FSA). The purpose of the Committee is to ensure transparency and maximum efficiency of financial markets in the UK, to fight fraud and crime on it, as well as to strengthen the legal protection of consumers of financial services. FSA, by the way, is a non-governmental and independent organization.

Regulators in the USA: CTFD and NFA

In the US, two main ones can be distinguished regulator . The Commodities Futures Trading Comission (CTFD) is a very venerable structure created by the U.S. Congress some forty years ago. The seriousness of state control is evidenced by the fact that the leadership of the Commission, which has the status of a federal agency, is personally appointed by the U.S. President and then approved by the Senate. Another influential regulator on the U.S. currency market is the National Futures Association (NFA), formed with the direct assistance of the CTFD.

Regulators in Russia

What are the realities at home? Here it will be more difficult to guarantee reliability than in the West. There is no official regulator in Russia . The Federal Financial Markets Service is as close as possible to this role in terms of its competence, covering the following areas

intermediary, the FCMC has no right to impose fines on the offending entity. In addition, the organization does not have any authority other than advisory, which removes from its participants the responsibility for their actions.

There are also similar organizations to the CRUFR: CRUFR, RAUFOR and others. But their meaning and objectives are very similar, so there is no point in describing each of them.

How to live without a regulator ?

So, in Russia, the regulation of a broker's activity follows several scenarios. The first one: a company engaged in providing access to the currency market is registered as an ordinary joint stock company and performs the role of a trader's partner, sometimes resolving disputable situations. The second variant: the broker covers himself with FFMS or FCMC, one of which, as it was said above, does not control relations, and the second one does it unconvincingly. Such response of the broker most likely means that it does not have any license. Or it has a license for betting, this is the third possible scenario. And the most disadvantageous for the players - their operations are considered by the state as a dispute, which is not in the legal field.

When signing a contract with a broker, it is also important to pay attention to the following details. The company's legal address and other important information must match the data in the license issued by the regulator. Your agreement with the broker should be based on civil law and cover all aspects related to your transactions. Many serious intermediaries in the financial market also have regulations covering many of the issues encountered in conflict situations. The absence of such regulations from a broker is a good reason to think twice.

Well, based on this situation, there is nothing left for a trader in the domestic currency market but to rely on the integrity of the company and its reputation. At the same time it is necessary to choose a broker very carefully. About, How to choose a broker .