Brokers Regulator

In every country, you will find a Financial Services Regulator, who is tasked with licensing and monitoring local brokers.

Each country has different requirements of a financial services firm / brokerage firm to receive a license.

For example: The financial requirements for a license from ASIC Australia is about $1,000,000 AUD, while the financial requirements or a license from Vanuatu is $2,000. Intermediary (STP) brokers would require 125,000 GBP for a license from the FCA in United Kingdom.

Does The Regulator Help Investors?

The governments regulator serves a few purposes. Their primary purpose is to monitor their licensees, to ensure they are offering investment services in accordance with the rules and regulations.

Many times a government regulator with issue a fine to a broker because that broker failed to fully adhere to the rules.

A government regulator will also write laws to try and protect investors from losing money, although day trading is very risky, and most investors still lose money.

Reporting Broker Withdrawal Problems

Every financial regulator listed below has their own method for addressing complaints and withdrawal problems by investors.

Some regulators use an external ombudsman service to act a go between, with the broker and investor.

FINRA recommends you first try and address the problem directly with your broker in writing. That means email your broker, so that everything is recorded.

Immediately question your broker about any transaction that you do not understand or did not authorize with your broker.  If you are not satisfied with your broker’s response, contact the firm’s branch manager or compliance department. If you lost money or there was an unauthorized trade made in your account, you should complain in writing.

FINRA Website

List of Broker Regulators by Country

Australia – Australian Securities and Investments Commission –

Canada – IIROC –

Cyprus – Cyprus Securities and Exchange Commission –

Czech Republic – Czech National Bank (CNB) –

Denmark – Finanstilsynet (The Danish FSA) –

Estonia – MTR Majandus –

France – Banque de France (BDF) –

Germany – BaFin –

Hong Kong – Hong Kong Securities and Futures Commission –

Hungary – Pénzügyi Szervezetek Állami Felügyelete (PSZÁF) –

Italy – CONSOB –

Japan – Financial Services Agency –

Mexico – Comisión Nacional Bancaria y de Valores –

Malaysia – Securities Commission of Malaysia –

Netherlands – Authority for the Financial Markets (AFM) –

New Zealand – Financial Markets Authority –

Singapore – Monetary Authority of Singapore –

Spain – CNMV –

South Africa – Financial Sector Conduct Authority (FSCA) –

Sweden – Finansinspektionen (FI) –

Switzerland – FINMA –

United Kingdom – Financial Conduct Authority (FCA) –

United States – FINRA –