Many traders pay attention to broker licenses when choosing a reputable broker to open a live account with. Apparently, this is a god idea since a regulated broker has to comply with various laws and regulations and can be prosecuted for playing dirty tricks on their customers. There are dozens of brokerage licenses.
The world’s most respected international licenses.
These are the most reputable international regulators:
· NFA (National Futures Association). It was founded in 1976 in the USA as a self-regulatory organization and watchdog of the commodities and futures industry in the United States. The NFA oversees and protects investors from fraudulent commodities and futures activities. The NFA also provides mediation and arbitration for resolving consumer complaints. It is headquartered in Chicago, IL and has an office in New York.
· CFTC (Commodity Futures Trading Committee). It was created by the US Congress in 1974 as an independent agency that regulates US futures and option markets. The stated mission of the CFTC is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets.
· FSA (The Financial Services Authority). It is a quasi-judicial independent body responsible for the regulation of the UK’s financial services. The FSA regulates all the financial market. However, it treats Forex services as bookmaking, thus imposing considerable restrictions on Forex brokers.
Still, there are minor, local licenses. Despite their less reputable status, some of them still can be trusted. One of such licenses are given by the International Financial Services Commission of Belize!
Fort Financial Services is one of such reputable Forex brokers operating under the international brokerage license IFSC/60/256/TS/13. It was issued by the International Financial Services Commission of Belize on April 15th, 2013. Later on, the license was extended on April 1st, 2014 under no. IFSC/60/256/TS/14.
This license provides the client with the following benefit:
· The guarantee of the company’s financial stability in connection with IFSC requirements for brokers to maintain capital assets guaranteed for payment to clients in a separate bank account.
· The guarantee to uphold the international standards of trader services according to IFSC requirements.
· The guarantee that the company will conduct quarterly audits and full annual accounting for regulator.
· The guarantee that disputes between traders and brokers will be resolved with the involvement of the IFSC as an independent arbiter whose decision is final and binding.
