Forex is the largest, most liquid market on the planet. That size and scope
How do you regulate a market that is trading 24 hours a day, all over the world?
There is no centralized body governing the currency trading market; instead, several governmental and independent bodies supervise forex trading around the world. Some of these include, but are not limited to:
|
COUNTRY |
SUPERVISORY BODIES |
|
United States |
The National Futures Association (NFA) Commodities Futures Trading Commission (CFTC) |
|
United Kingdom |
Financial Conduct Authority (FCA) |
|
Australia |
The Australian Securities and Investments Commission (ASIC) |
|
Japan |
The Financial Services Agency (FSA) |
|
Canada |
The Investment Industry Regulatory Organization of Canada (IIROC) |
|
Cayman Islands |
Cayman Islands Monetary Authority (CIMA) |
|
Hong Kong |
The Securities and Futures Commission (SFC) |
|
Singapore |
The Monetary Authority of Singapore (MAS) |
The global supervisory bodies regulate Forex by setting standards which all brokers under their jurisdiction must comply with. These standards include being registered and licensed with the regulatory body, undergoing regular audits, communicating certain changes of service to their clients, and more. This helps ensure that currency trading is ethical and fair for all involved.
