{"id":1335,"date":"2016-11-29T08:31:03","date_gmt":"2016-11-29T08:31:03","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=1335"},"modified":"2020-09-21T11:42:07","modified_gmt":"2020-09-21T11:42:07","slug":"mnb-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/mnb-registered\/","title":{"rendered":"MNB Forex Brokers in Hungary"},"content":{"rendered":"

The Forex companies started to transfer their businesses to many small countries in an attempt to secure more clients from those countries and the nearby regions. The trend of extending to foreign countries has become a standard practice. Many brokers choose countries which do not officially belong to Western Europe, hoping to work under more flexible conditions, given that many of these countries don\u2019t have very strict regulations and are not as vigilant in enforcing the ones that do exist. Although Hungary might not belong to the Western world, the laws in place are not as lax as some might think. Brokers registered in Hungary are not free to operate as they wish, and those who came looking to circumvent the law and manipulate the market should better close their offices in Hungary and look for another country. Since it entered the EU, Hungary committed to serious reforms and maintains a strict policy regarding governance of business entities. The official regulator for financial markets in Hungary is its National Bank, which performs a series of tasks to keep the market safe and sound. MNB or Magyar Nemzeti Bank is the National Central Bank of Hungary, and it belongs to the European System of Central Banks. The Bank dates back to 1924 when it was established. One of the bank\u2019s priorities is fostering international relations and participation in professional international economic fora.<\/p>\n

MNB\u2019s Duties<\/h2>\n

\"MagyarThe main responsibilities of the Bank<\/a> are price stability, monetary policy and issuance of the national currency (the Forint). The Forint or HUF is astonishingly weak against the USD (1 USD equals 279.302 HUF). The economy of Hungary is one of the most complex in the world, according to Economic Complexity Index, but the economy is not in bad shape at all, occupying the 49th place regarding the GDP per capita. The big gap between the USD and HUF is a bit worrying, but the Hungarian Prime Minster blames external factors and the global economy for the high volatility of the HUF. The Bank is also in charge of the financial and capital market of the country, which means that Forex companies fall under the Bank\u2019s supervision as well. One of the main goals of the Bank is to keep the market safe and customers protected by:<\/p>\n