Forex brokers have often found themselves embroiled with regulatory authorities as many seek to reach more clients and grow their business beyond their domestic boundaries. While every country has its regulators and authorities that oversee the financial markets, they also have other national bodies working with them to ensure that rules are followed, and traders are properly protected. Operating in various jurisdictions comes with certain limitations and it is natural to find online forex brokers being issued warnings for operating in a country. Following an ironfx review and according to information online, it is alleged that the Brazilian CVM, the Securities and Exchange Commission in Brazil, had issued a warning against IronFX in 2015. The Brazilian Securities and Exchange Commission (CVM) said that the firm was not licensed by local authorities. The CVM’s role is to monitor over-the-counter (OTC) financial markets and exchanges and like other regulators it is also responsible for protecting the interests of investors and find out potential breaches of the law. Lacking any official evidence, this could be true or false, but it does not mean anything more than what it is: a warning. Such warnings are regularly issued to global brokers as the market is complex and different regulators have different demands and expectations from foreign brokers.
Whether an ironfx review has alleged about the broker’s dealings in another country does not erase the fact that IronFX is highly regulated like other leading international brokers, and has to abide by international laws and regulations. Whether a national regulatory authority issued a warning against the broker does not necessarily mean that the broker is unregulated, untrustworthy or unfair. On the contrary, IronFX, like XM, Tickmill and similar competing names in the market, are regulated and are required to follow the laws and conform to the regulations of each legal body they are registered with in the specific country they have branches and offices. This is one of the best reasons to register with IronFX or any other leading brand, as forex brokers who are regulated can provide various benefits and protections that traders cannot otherwise find.
An ironfx review might have claimed that a warning was issued, but this seems to ignore the fact that brokers such as IronFX deal with millions of clients across the globe and issues or complaints are bound to occur here and there. The most important thing to keep in mind is that IronFX is regulated and trusted by many investors. In a market with a huge trading volume, about $5 trillion a day, brokers and traders have to operate diligently and carefully. Due to the risks involved, registering with a reliable and regulated FX broker is paramount.
A reliable broker will ensure the safety of its clients’ transactions, provide a secure platform and generally guarantee the security of their funds. Being regulated also means that a broker has credibility, as they have met the necessary criteria to get a license and they adhere to guidelines and their implementation.
A regulated broker offers transparency and clients are ensured that no scams or fraudulent activity will take place. They are also required to offer certain financial tools or assets so that their traders are protected from risky assets and trading with potential risks.
A regulated and fair forex broker will generally provide qualitative customer service to its clients as it will be interested to create trust and expand its clientele, while preserving a good reputation. Despite this or that ironfx review, the truth is that IronFX has gained popularity for its loyal customers because it has established a strong relationship with them and is determined to update its products and services regularly and offer competitive trading tools to retain and attract new traders.