{"id":1294,"date":"2016-11-29T10:25:08","date_gmt":"2016-11-29T10:25:08","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=1294"},"modified":"2020-09-21T11:40:56","modified_gmt":"2020-09-21T11:40:56","slug":"hcmc-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/hcmc-registered\/","title":{"rendered":"HCMC Forex Brokers in Greece"},"content":{"rendered":"
It seems that Greece is following in the footsteps of its fellow neighbor Cyprus, which is one of the main Forex centers in Europe. Greece is also becoming more involved into the multi-billion and trillion turnover market. The government debt crisis or Greek Depression shook the country up several years ago in 2009. Banks were closed across the country and the trade deficit of Greece got out of control. A trade deficit means that consumption is bigger than production in a country. Being a part of the EU, Greece was supported for years from the EU fund and EU magnate countries until those investments declined and the Greek economy hit rock bottom. Greece was unable to sustain its economy without major EU investments and loans. When this happens to a country, usually the national currency depreciates and attracts investments, but Greece was already using the euro so it could neither attract investments, nor pay its debt in a cheaper currency. Greece reduced salaries in the following 4 years which led to recession, and unemployment more than doubled. Cuts in government spending stabilized the country a little bit by 2014. Now, slowly, Forex comes into the game and contributes to economic growth.<\/p>\n
The financial and securities markets in Greece are controlled by the HCMC. HCMC or the Hellenic Capital Market Commission<\/a> is one of the regulatory bodies for financial activities in Greece along the Bank of Greece. The HCMC is responsible for making sure that financial companies behave in accordance with the law. It is independent of the state budget. Its revenues come from the agencies, bodies, and companies it supervises. The HCMC is accountable to the President of the Parliament and the Minister of Finance. As Greece is a part of the EU, the HCMC is also a member of the European Securities and Markets Authority (ESMA), which means that HCMC also works within the ESMA framework. The HCMC also works on the development of relevant regulation policies and makes sure that implementation of legislation is in place. The HCMC also takes part in drafting regulatory frameworks referring to the capital market, not only at state level, but also at an EU and international level. The entities under its surveillance include Greek and international investment companies, collective investment entrepreneurships and their managers, etc. The HCMC is involved in market research as well. It also keeps an eye on money laundering activities with the aim to suppress them. The HCMC has significant legal power; e.g. it can impose administrative sanctions and fees, revoke licenses, and it is in charge of reviewing and investigating investors\u2019 complaints. The goals of HCMC include market transparency and fairness, customer protection, and national market integrity. Forex companies in Greece are also under the supervision of this regulatory authority.<\/p>\nBest Forex Brokers<\/h3>\n