With the world of trade of personal and business use expanding, traders with the EuropeFX Reviews team can expect to find different regulatory authorities monitoring the financial markets throughout the process to protect both the buyer and seller. There are two such agencies that are leaders among the rest: CySec and Asic. ASIC (Australian Securities & Investments Commission) is a regulatory agency for Australia, while CySec (Cyprus Securities and Exchange Commission) is such an agency for Cyprus. Both are renowned in their respective areas, but there are some important differences between them that every client should know before choosing a broker from them.
Every business, including EuropeFX Reviews, has regulation laws to adhere to. Similarly, Asic-run businesses and accounts are known for adhering to strict policies and rules regarding the global market. These rules are put in place to ensure that there is no form of malpractice or financial scams between the owners and markets across Australia and the globe. For CySec-run businesses, however, the regulations are much more lax and don’t include a lot of monitoring of businesses. While there are some laws in place to protect the trader, they’re not as strict as those of Asic. This may also be the reason why it’s easier to find a broker under the CySec license than those of Asic.
One of the most important differences between CySec and Asic-run accounts is the type of accounts that are allowed to be held. Asic-run accounts are heavily regulated to ensure that they remain segregated from the broker’s accounts, so the client’s funds don’t affect the broker’s funds. On the other hand, CySec-run accounts aren’t required to be 100% segregated, so there is a chance of loss. This can be a problem down the line for trading businesses like EuropeFX Reviews because the client’s rights and money would be affected by the broker and any fees he may owe would increase in the event of broker insolvency.
Read more articles about regulation brokers on EuropeFX Reviews.
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Is there a difference between the 2 regulators? Is it better if the broker is regulated in CySec or IFSC?
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