{"id":1278,"date":"2016-11-29T11:06:13","date_gmt":"2016-11-29T11:06:13","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=1278"},"modified":"2020-09-21T11:40:42","modified_gmt":"2020-09-21T11:40:42","slug":"fspr-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/fspr-registered\/","title":{"rendered":"FSPR Regulated Forex Brokers"},"content":{"rendered":"

New Zealand is one of the countries where Forex established itself as a regular market. Hence, the government had to authorize certain organizations to implement regulations upon broker companies. There are three main organizations: FMA, FSCL, and FSPR. All of them have a certain role, but none of them fully monitors the Forex market. Still, FSPR slightly dominates over the other two.<\/p>\n

The FSPR and Forex Regulations<\/h2>\n

\"logoThe FSPR stands for Financial Service Providers Register<\/a> and represents a governmental body where companies dealing with financial services have to register, including Forex brokers. The registration procedure is not that complicated, and many famous western Forex brokers registered their business in New Zealand as well. Following the FMA (Financial Markets Authority) Report of 2015, 28 companies were deregistered from FRSP for not following regulations. Some overseas Forex brokers were also deregistered for not being able to meet their obligations towards clients. This example shows that FMA and FSPR really make an effort to keep the market safe from brokers who are not able to protect their customers. This also means that traders can be sure (at least to some extent) that FRSP registered brokers will work professionally and honestly. As a New Zealand trader, you can rely on FRSP brokers in most of the cases. Brokers could not operate without licenses, and they are aware of the positive effect of strong licenses from renowned regulators, even if it tightens the leash on their business conduct. Top Forex brokers<\/a> know that it will pay off to follow all the rules imposed by the regulatory body. The FSPR\u2019s main duties regarding Forex include:<\/p>\n