FinaCom Adds More Features to ‘Check Your Broker’ Directory
- ‘Check Your Broker’ tool gives FX traders a snapshot of a broker's history, regulatory actions, licenses, and complaints
The Financial Commission (FinaCom) has revamped its ‘Check Your Broker’ directory, which allows traders to research the background and experience of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers. The new enhancements revolve around the addition of broker profiles, as well as new listings for other non-member firms.
‘Check Your Broker’ tool was originally launched back in April 2019 to give FX traders a snapshot of a broker's history, regulatory actions, and investment-related licensing information, arbitrations, and complaints. The list has been steadily expanded, and it currently incorporates more than 200 brands.
The Forex directory also helps traders find out about brokers engaging in fraud or misconduct, and check their status with the Financial Commission. Moreover, traders can leave feedback and share their trading experience on the broker’s profile page, which could initially speak for its reliability and competence.
One way to minimize your vulnerability
You can spot the registered status and other details of the broker on its own website as authorized companies will not hide the fact of being regulated and who is the authority in charge. However, the FinaCom directory makes the decision process much easier if the trader uses such a thorough due diligence checklist before doing business with any firm. In addition, it might bring up new releases or media reports of alleged wrongdoing or disciplinary actions, client conversations on online forums, background information, and other details.
Along with the details of the regulatory background, the directory also enables investors to find out information regarding the products and services offered by each broker.
“The enhancements are intended to help the trading public navigate the FX community to choose the right broker for them, find out about regulatory and licensing status of their broker or compare reviews and comments from other traders who have had experience trading with one broker or another,” said the Financial Commission.
The Financial Commission operates a similar service to help cryptocurrency investors check if an investment opportunity is a scam. Dubbed ‘Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Warning List,’ the tool provides information about the potentially damaging behavior of certain digital asset providers.
The Financial Commission (FinaCom) has revamped its ‘Check Your Broker’ directory, which allows traders to research the background and experience of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers. The new enhancements revolve around the addition of broker profiles, as well as new listings for other non-member firms.
‘Check Your Broker’ tool was originally launched back in April 2019 to give FX traders a snapshot of a broker's history, regulatory actions, and investment-related licensing information, arbitrations, and complaints. The list has been steadily expanded, and it currently incorporates more than 200 brands.
The Forex directory also helps traders find out about brokers engaging in fraud or misconduct, and check their status with the Financial Commission. Moreover, traders can leave feedback and share their trading experience on the broker’s profile page, which could initially speak for its reliability and competence.
One way to minimize your vulnerability
You can spot the registered status and other details of the broker on its own website as authorized companies will not hide the fact of being regulated and who is the authority in charge. However, the FinaCom directory makes the decision process much easier if the trader uses such a thorough due diligence checklist before doing business with any firm. In addition, it might bring up new releases or media reports of alleged wrongdoing or disciplinary actions, client conversations on online forums, background information, and other details.
Along with the details of the regulatory background, the directory also enables investors to find out information regarding the products and services offered by each broker.
“The enhancements are intended to help the trading public navigate the FX community to choose the right broker for them, find out about regulatory and licensing status of their broker or compare reviews and comments from other traders who have had experience trading with one broker or another,” said the Financial Commission.
The Financial Commission operates a similar service to help cryptocurrency investors check if an investment opportunity is a scam. Dubbed ‘Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Warning List,’ the tool provides information about the potentially damaging behavior of certain digital asset providers.