A Foreign exchange broker is a broker who specializes in introducing transactions in China. A foreign exchange broker acts as an intermediary between the supply and demand of foreign exchange and receives a commission from the broker.
Foreign exchange brokers are regulated by NFA, FCA and ASIC.
They are divided into two categories: general brokers, that is, they participate in foreign exchange transactions with their own funds and are responsible for their own profits and losses.
A street broker, acting on behalf of a client, takes only a commission and does not take any risk.
An MM, which translates to a market maker, has a Dealing Desk, which means that someone is involved in your transaction, rather than automatically submitting your transaction request to the bank completely unimpeded.
STP literally means direct processing. It means that your order is submitted directly to the bank without any human hands.
That is, it has no trading seats (NDDS).
ECN literally means Electronic Communication network, and it is also NDD, which includes most of the features of STP.
National Futures Association (NFA) is a self-regulatory organization of the Futures industry established in 1976 according to Section 17 of the Commodity Exchange Act of the United States. It is a non-profit membership organization.
Section 17 of the Commodity Exchange Act is derived from Title III of the Commodity Futures Trading Commission (CFTC) Act of 1974, which provides for the registration of futures associations and the CFTC’s regulation of Self-regulatory associations of Futures Professionals.
On September 22, 1981, the CFTC accepted the NFA as a “Registered Futures Association”, and on October 1, 1982, the NFA officially began operation.
Britain’s Financial Service Agency (FSA), which was reconstituted in October 1997 from the Securities and Investments Board (SIB) created in 1985,
As an independent non-governmental organization, it intends to become a unified regulator of the UK financial market, with statutory responsibilities and direct responsibility to the UK Treasury.
The Financial Services Authority (FSA) is an independent, non-government body given statutory powers by the Financial Services and Markets Act.
“We are a company limited by guarantee andyield to the financial services industry”.
We are a limited guarantee and financing financial services industry.
The Board sets our overall policy,
But day-to-day decisions are made and management of the staff are the responsibility of the Executive Committee.
The Board of Directors sets overall policy, but the executive committee makes day-to-day decisions and is fundamentally responsible for managing the staff.
¡ñ The first stage of reform was completed in June 1998, with the transfer of banking supervision from the Bank of England to the FSA.
In June 2000, Royal assent was given to the Financial Services and Markets Act 2000 to be implemented in 2001,
By then, the Securities and Futures Authority, the Investment Management Regulatory Organisation, and the Personal Investment Authority
Investment Authority, Building Societies Commission, Friendly Societies Commission, Register of Friendly Societies, etc.,
It will be merged into the FSA.
FCA will replace the FSA into Britain’s financial services regulator, starting from April 1, 2013, regulation of the whole of Britain’s financial industry independent non-governmental organisations (ngos) – Britain’s financial services authority (FinancialServicesAuthority – the FSA) will be cancelled,
Regulatory authority and the financial market behavior (FinancialConductAuthority – FCA) and prudential supervision bureau (PrudentialRegulatoryAuthority — PRA) replaced the two new regulators.
With immediate effect, Sarson UK Limited and its employees will be regulated by the FCA.
The FCA will develop and implement similar rules as the FSA to protect consumers and ensure the integrity of the functioning of the market.
At the same time, the FCA has said it will impose tough penalties on firms that break its rules.
Australian Securities and Investments Commission (ASIC).
ASIC was established in 2001 under the Australian Securities and Investments Commission Act (ASIC Act).
The agency is an independent government agency that, by law, independently exercises regulatory functions over companies, investment practices, financial products and services.
The Australian Securities and Investments Commission is the regulator for the securities and foreign exchange retail industries.
With the introduction of Australia’s Securities and Investment Commission Act in 2001, ASIC has since brought the retail foreign exchange trading market into the scope of daily supervision, and regulated it together with banking, securities, insurance and other financial industries, becoming an important part of Australia’s national financial system.
The basic functions of ASIC are to safeguard market integrity and protect the rights and interests of consumers.
Market integrity means to prevent artificial manipulation, fraud and unfair competition in the market, protect market participants from financial fraud and other unfair acts, so as to enhance investors’ confidence in the financial market, maintain the stability of the financial market, protect consumers’ rights and interests through full and timely market information disclosure,
Ensure the integrity and fairness of companies, securities and options markets to ensure that small and medium investors have access to adequate and accurate information and that appropriate means are available to compensate investors when they suffer losses due to unfair treatment of their rights.
The perfect financial regulatory system and strict enforcement of ASIC have been unanimously recognized by investors and regulatory peers around the world, and it has always been recognized as one of the most stringent and sound financial regulatory systems in the world that can best protect investors’ rights and interests.
Global stocks rose, the dollar fell to a three-game low in a week and a half, and a rebound in gold prices was dented by Powell’s comments.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.