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Thursday September 17, 2020 - 10:34:05 GMT
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Why does a license hold so much importance with financial companies?

The word "license" itself is translated from Latin as "permit". This refers to the right to engage in certain activities. The same is the name of a document that gives an enterprise or a person such a right. For example, a driving license is also a kind of license. Citizens also need a license in order to own weapons, hunt and fish. To engage in certain types of activity, enterprises and entrepreneurs also need a license - these are the licenses that this article will be devoted to.

Why are the licenses needed?

Licenses are introduced by the state in order to protect the life and health of citizens of the country, their rights and legitimate interests, the security of the state, the environment and cultural heritage. The law prohibits the introduction of licensing for any other purpose.

Licensing is a tool to ensure state control over certain types of activities. The state sets the criteria and requirements that must be met by enterprises and entrepreneurs carrying out this or that activity.

In addition, there is ongoing government oversight of license holders' compliance with laws and regulations. If significant violations are identified, the state can revoke the license - this often happens, for example, with various banks.

What types of activities are licensed?

While there are many types of licenses we will basically talk about financial ones and why they are important to financial companies. In general, a license can apply to Forex brokers, enterprises, shops, casinos. The latter is especially important because when people are gambling, they must be sure to have business with legal entities. For example, if you read this casinoroom review here you will understand how much attention is given to the importance of license and almost all major casinos take care of their legal side.

Authority

The first thing that encourages financial companies to apply for a license is authority and reputation. If you have a license like FCA or CySEC, when we talk about brokers, most likely you are trustworthy and people will choose you over other brokers. These licenses have a high degree of confidence and also gives authority to a broker.

Leverage and loss compensation

The regulator limits the amount of leverage to 1:50 for major currency pairs. For binary options and CFDs, the leverage has a 30:1 limit. Customer accounts must be protected from negative balances. All trading bonuses and incentives are prohibited.

In order to compensate for the losses of traders who have suffered from the actions of brokers, there is a compensation fund. If the broker goes bankrupt, the client can count on a refund, but the amount cannot exceed 50 thousand pounds per person. The problem will arise if the deposit exceeded this amount since nothing will be paid over it.

The regulator oversees the activities of brokers. This includes regular collection and verification of reports, control over the quality of services provided. Also, a regular check of the company's solvency, if it is revealed that the broker has financial problems, the regulator will take action. In particular, it can block accounts, in which case the broker's clients will receive compensation.

FCA will handle disputes and disagreements between brokers and clients. Also conducts investigations and receives complaints from the parties to the conflict. The decisions made by the regulator are binding.

Responsibility

Legally, a trader's liability to a broker is limited only to the money that is on the deposit. In any case, the client will not be left in debt to the Forex dealer. If the broker commits illegal actions or in any other way infringes on the trader, then he can contact the regulator.

Conclusion

Today's Forex market is regulated by law and controlled by large organizations. They can resolve conflicts, punish the culprit and prevent traders from losing money due to deception. But to become part of this settled world. You need to choose brokers that are subject to regulated jurisdictions. With a transparent control system.

Not only brokers but also other financial companies pay attention to the fact that they must be licensed. Otherwise, they will see a huge decrease in profits and clients. And we always prefer such entities which are licensed and regulated by trustworthy firms.

 

 

 

 

Forex Trading News

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Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

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The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

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Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

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