Forex Brokers in Germany are regulated by the ‘Federal Financial Supervisory Authority’ or ‘BaFin’ which stands for ‘Bundesanstalt für Finanzdienstleistungsaufsicht,’ a well-known financial supervisory body established in 2002 and monitored by the ‘Federal Ministry of Finance’ in Germany. BaFin makes sure that all the authorized companies follow the regulations completely and do not waver from the standards. BaFin FX Brokers are also obligated to adhere to the ‘German Securities Trading Act’ as well as its directives and guidelines. BaFin is responsible to regularly investigate and audit the financial activities of registered companies to verify their status regarding the capital adequacy and safety of clients’ funds in segregated accounts. Below you can find the list of Forex brokers that are registered by BaFin of Germany.
|1||XTB||2002||BaFin, CNMV, CySEC, FCA, IFSC|
|2||MultiBank||2005||ASIC, BaFin, FMA, CNMV, FSC, CIMA, RAK|
|3||HotForex||2010||CySEC, FSC, FSB, FCA, BaFin, DFSA|
|4||LegacyFX||2017||CySEC, BaFin, FCA|
|5||Orbex||2010||BaFin, CySEC, FCA|
|6||FXCM||1999||AMF, ASIC, BaFin, CONSOB, FCA, FSB|
To identify if a forex broker is regulated by BaFin, the first step is to identify the name of the entity from the disclosure text on the broker's homepage. For example, here's the key disclosure text from XTB's website.
XTB holds a banking license issued by its supervisory authority the BaFin.Next, look up the firm on the list of supervised institutions listed on BaFin's website to validate the firm's current regulatory status. Here is the official BaFin page.
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