Legalities of off shore brokers!

Hi all,

There are larger number of firms in fx industry simply operating with UK, HK address without any regulations, is it legal to operate such financial brokerages? if not were to report such firms and to take them down. just for sample listed one such UK Based broker

https://www.fca.org.uk/consumers/rep...uthorised-firm

(for the UK based scammers like your example)

You are welcome.

Hi,

Why not this regulatory bodies simply can insist independent software provided must be duly registered and must comply with set of regulation to offer their services only with certificated digital stamps or certificates as authorized company? instead of other ways around to make brokers and registered companies to obtain license and comply?

Why and how would a software company like Metaquotes do that? Who is regulatory body?
According to SEC, only US SEC brokers are legal. So metaquotes shouldn't sell to anyone outside the USA !
Also brokers shouldn't be allowed to offer trading in Bitcoins since it is not approved.

You need to do your due diligence and don't expect anything else. Even then there is still no guarantee.

You either have a free market with light regulation and big brother rules everywhere. I prefer the former.