
2022 has unfortunately seen record amounts of people scammed out of their hard earned money. The rise in online trading scams has continued to gain traction, with the only positive of this being that there are increasing numbers of would-be investors who are becoming more savvy to the need to use fully regulated brokers when trading their funds online. Whilst many people are now noticing this need and becoming more aware of the signs of a potential scam, there are still a large number of people who are trading without having a full understanding of how the Forex market is actually regulated, and why they need a regulated broker in order to mitigate their risk.
The regulatory status of a forex broker can be quite difficult to discern since, unlike many other industries (particularly in financial sectors), there is no centralised regulatory body that takes on the responsibility of regulating …