{"id":941,"date":"2016-11-17T14:29:10","date_gmt":"2016-11-17T14:29:10","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=941"},"modified":"2020-09-21T09:04:42","modified_gmt":"2020-09-21T09:04:42","slug":"efsa-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/efsa-registered\/","title":{"rendered":"EFSA Forex Brokers"},"content":{"rendered":"
With the increased number of Forex traders and broker companies offering services, acting as market providers, there is also a growing need for supervision and regulation. Estonia is no different, as the number of new traders is constantly increasing and there are foreign and domestic Forex brokers in Estonia who try to attract new customers, and Estonian Financial Supervision Authority has been formed to administer brokers and advise traders. <\/p>\n
The Estonian Financial Supervision Authority<\/a> was founded in 2001 by the Estonian Parliament through the Financial Supervision Authority Act. It\u2019s an independent agency with a goal to oversee the country\u2019s financial sector and markets, including banking and securities. EFSA is part of the Committee of European Securities Regulators and as such it holds the standards and performs the tasks such as promoting stability and consistency of the financial markets, reducing risks, protecting the traders and investors, and ultimately promoting market and general financial transparency as well as competitiveness.<\/p>\n Unlike many other European regulators, EFSA is not a government agency. The agency operates as an independent entity, using membership fees and fines to fund their operation. Of course, putting financial regulation in private hands can always be dangerous and this is why EFSA licenses carry less weight than those issued by other European regulatory bodies. Within their mandate, EFSA regulate all types of financial transactions, with the support of the Central Bank of Estonia and the Estonian Government. As such, the agency is able to keep track of all manner of trade within the Estonian market and its main goal is to maintain balance in the market and keep the economy healthy. In a sense of Forex brokers, EFSA is there to protect the end user from fraudulent brokers and keep the brokers competing in a healthy atmosphere. Any attempt of disloyal competition or fraud against the customers is sanctioned by EFSA when discovered and this is exactly why the agency was first introduced. If you are looking to trade Forex within Estonia, EFSA is most definitely the right agency you should look to for regulation, as EFSA Forex brokers are the safest in the country. <\/p>\n Estonia is a full member of the European Union and every Forex broker who is registered within the EU has a right to trade in Estonia. However, the fairly lenient regulation that exists for Forex brokers in Estonia has led a number of brokers to set up shop in Estonia under the EFSA regulation. This is not to say that Estonian law does not protect the customers, but the regulation is certainly a lot more lenient and less harsh on the brokers. EFSA regulated brokers are allowed to take their business to other European countries as well, with Estonia being a part of the EU and brokers are taking advantage of this to make it easier to enter the European market, while still remaining licensed and safe. <\/p>\n When it comes to agencies regulating the Forex trade within the EU, it is hard to say that EFSA is among the safest ones. The agency allows brokers to get licenses without going through all the security checks required by some other agencies, while at the same time having less strict checkups and regulations once a broker does have a license. While EFSA is dedicated to protecting investors and traders in Estonia and abroad, the agency does not have any direct way of communicating with the customers, which means you will not be able to take your issue up with them if one should arise. While we can\u2019t go as far as say that the EFSA brokers are unsafe to trade with, we would say that there are plenty of other European agencies that issue similar licenses that carry a lot more weight and guarantee a much higher level of service and security. <\/p>\nHow Does EFSA Operate<\/h3>\n
Forex Brokers Moving Into Estonia<\/h3>\n
Are EFSA Brokers Safe?<\/h3>\n
Reliable Forex Brokers<\/h3>\n