There are clear norms on the punishment for violating the law. In other words, if it is found that the foreign exchange trading platform is not standardized, the supervision bureau will impose penalties, ranging from fines to fines, and may also revoke its license and ban it from entering the foreign exchange trading market for life. It can be seen that standardized foreign exchange brokers have certain requirements in terms of management level, financial status, infrastructure, etc., and their operations will be more standardized and it will be easier to gain the trust of customers.
At present, the five most stringent regulatory agencies in the world are as follows:
National Futures Association (NFA), UK Financial Conduct Authority (FCA), Australian Securities Investment Committee (ASIC), Swiss Financial Market Authority (FINMA) and Japan Financial Agency (JFSA).
If a foreign exchange dealer holds the licenses of the above two regulatory agencies, it can basically be judged as a safe investment platform! Of course, the more supervision you accept, the more you can show the strength of foreign exchange dealers.
If you want to know more about the foreign exchange platform, you are recommended to know Wikifx (Chinese name: Foreign Exchange Eye), an enterprise information query tool under WikiCo. , limited. Its core function is to provide listed foreign exchange trading enterprises with basic information inquiry, regulatory permission inquiry, credit evaluation, platform identification and other services.