Hi,
This website run by the FCA will confirm for you if your broker is legitimate or not. It can also be used for a wide range of other potential scams such as shares, pensions, gold, diamonds, wine investment. Well worth checking out.
I would stress on the word authorized as you can see the word registered instead which allow brokers to operate in UK but they don’t follow strict regulatory procedures and accounting that FCA requires.
From the fca website
"The Financial Services Register is a public record that shows details of firms, individuals and other bodies that are, or have been, regulated by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA). It also has information on firms regulated by the Financial Services Authority that had cancelled or stopped being regulated before April 2013."
Just google FCA registered and FCA authorized companies and you will figure out what I’m talking about
Is CM Trading a recognised broker?
No search field and we have to check manually? And FCA is only an organization while many brokers are regulated by other ones.
I think this solution is for checking a broker claimed FCA regulation, as a result we can know the broker lies or not.
Actually there is a Search button, if you are asking about that:
I find the site quite helpful as well. There is a lot of information which is useful for the regular trader on whether to trust a certain broker or not although I’m not sure if it’s enough to be registered only.
Thanks for sharing the link, I haven’t tried it yet but will soon check out. However, it must be noted that just regulation is not the solution as it might stop broker from scamming openly, but still there are many who are master at tricks, so that part can be exposed only with testing. Once again thank you for sharing the link with us…
CarlosRay, it’s great to check through there. I like to know what you feel about ASIC regulation. I am currently working with various brokers out of which FP Markets are one and they are licensed by ASIC and an Australian based company with 12 years of work behind them, so what you feel about this broker and this particular regulation? Will be glad to hear your views…. Thanks