Hi Traders! Im looking to start investing in FX. However, there are no FX brokers in the country I live so I will have to go with a US or UK broker that is regulated.
My question is: ARE these regulators of any help to non residents and non citizens in case of there being a problem with my broker in the future?
Thank you and best regards,
fran
hello fran,
a regulator’s job is to control, check and supervise registered Brokers. In case you have an issue with a Broker (no matter residency and citizenship) and you contact the regulator, normally (99% of the cases) you will receive feedback from them.
Now, if your case will be solved from the regulator’s intervention, this is another story and a totally different one. Usually, reaching out to a regulator is a client’s last resort, meaning you most probably solve your issue by only mentioning “… then, i’ll have to contact the regulator and state my case”.