How to check the regulator of a broker Legal Or Illegal??

[prapto_rich]

I think it's the important think for a broker if their companies need more customers, because the customer always join in a broker who have regulatory license...
How to check the regulator was LEGAL or ILLEGAL??

 

[Red Herring]

Hi P rich

Nice profile pic, like.

I know that we should check the regulator's website and look for whether they charged any penalty on any broker or not in the past to have trust on their regulatory capability.
Is there any thing else guys?
Happy trading.

 

[bigdolly]

I think you can use google to dig some information about regulatory organization. Look up for real feedback and trustful sources, such as world mass-media, etc. The easiest time-effective way to make up rough outline of it.

 

[nanypurwanti]

Good advise sir..
Most of us do not know is that regulatory Legal or not, And I think that there are so many fake regulatory and incredible..
It's make us more worried to join in a broker..
I've trade in lite forex, and I do not know is this regulated or not, But I've trade so many years and thanks for God coz i never got problem with them...

 

[tenkofxid]

we can see the license of the broker on their website to see regulation in use. such as the registration number and other

I am now trading with TenkoFx who have a license from the FSR

 

[Pharaoh]

Also, even if a company claims to be under a well-known regulator, double-check that. There have been plenty of companies that claimed to be under NFA and other regulators, but weren't registered.

 

[willforex]

Also, even if a company claims to be under a well-known regulator, double-check that. There have been plenty of companies that claimed to be under NFA and other regulators, but weren't registered.

Do you know some reliable resources to check those details ?

 

[Pharaoh]

Do you know some reliable resources to check those details ?

Most regulators are kind enough to have a section of their website that lists all regulated companies. For others, you'll need to email them or call them.

 

[Rambo35]

Maybe I have missed somehting, but the OP seems to ask about the legality of the regulator. In that case it comes down to how much you trust the country/government where the regulator and business is based.

 

[Pharaoh]

Few regulators qualify as "illegal". Ineffective and useless are much more common.

The only ones that would fit into the illegal category are fake regulator websites set up to make it seem that one or more unregulated forex companies are under some sort of regulation.