There is no single global body governing the forex market to police the massive 24/7 market.
Instead, several governmental and independent bodies supervise forex trading around the world.
The supervisory bodies regulate forex by setting standards that all brokers under their jurisdiction must comply with.
These standards include being registered and licensed with the regulatory body, undergoing regular audits, communicating certain changes of service to their clients, and more.
Licensed forex brokers are subject to recurrent audits, reviews and evaluations to ensure that they meet the industry standards.
This helps ensure that currency trading is ethical and fair for all involved.
Every country has its regulatory authority that lays down the framework of rules that are to be complied with when operating in the forex trading market.
Each forex regulatory body operates within its own jurisdiction and regulation and enforcement vary significantly from country to country.
Below is a list of financial regulatory bodies for each country in alphabetical order.
- British Columbia Securities Commission (BCSC)
- Canadian Investor Protection Fund (CIPF)
- Financial Transactions and Reports Analysis Center of Canada (FINTRAC)
- Investment Industry Regulatory Organization of Canada (IIROC)
- Investment Industry Regulatory Organization of Canada (IIROC)
- Ontario Securities Commission (OSC)
- Ombudsman of Banking Services and Investments (OBSI)
- Association Romande des Intermediares Financiers (ARIF)
- Organisme d’autorégulation fondè par le GSCGI
- PolyReg General Self-Regulatory Organisation
- Swiss Bankers Association (SBA)
- Swiss Federal Banking Commission (SFBC)
- Swiss Federal Department of Finance (SFDF)
- Swiss Federal Finance Administration (SFFA)
- Swiss Financial Market Supervisory Authority (FINMA)
- Swiss National Bank (SNB)