Best BCU (Uruguay) Regulated Forex Brokers 2018

In Uruguay a Forex broker is not obliged to be registered with BCU, however while this gives you a freedom of choice, it also leaves you open to potential scams. We have conduced research in the very best BCU regulated brokers for you to trade with in order to keep you protected.

Introduction to BCU Regulation

The Central Bank of Uruguay was created in 1967 after passing 196 article of the Constitution. Its main function at the time was to issue currency of the country and to regulate the entire banking system. After a bank charter in 1995 it gained far more responsibilities, functions and powers. It became the main authority to create and implement monetary policy, supervise financial institutions that make up the financial system, regulate the financial system, fight against money laundering and financing of terrorism and encourage transparency in financial markets. The key department that does the monitoring of the financial sector is The Superintendency of Financial Services.

BCU Responsibilities

According to the laws of the State BCU is entrusted with responsibilities to develop regulations that are oriented towards achieving best result in supervising financial companies under its authority, transparency and efficiency of financial markets and creation of trust as well as confidence for the users of the system. It likewise, carries outs various tests and checks of new entrants in financial markets including competency of management of the companies that BCU is authorized to supervise. The Bank has a special customer care system that is meant to build investors’ confidence in the financial system by means of various educational programs. Finally, the institution constantly works on improvement of regulation following user requests and complaints as well as suggestions from investment brokers under its supervision.

How BCU Regulation protects you

The department of The Superintendency of Financial Services seeks to communicate with both users and providers of financial services and for that purpose it has established various ways to help the final recipient of the services. You can get a consultaiton or file a complaint against a specific Forex broker under BCU supervision. Your claim will be promptly analyzed and if found guilty a broker will have to repay the damage that has been caused for you. The department also carries out surveys about customer satisfaction and you can share your insights, problems or offer advise regarding services provided by various markets participants.

Guidelines for BCU Regulated Brokers

Forex brokers and any other financial institution that wants to be regarded as regulated has to be authorized to legally function as provider of financial services with prior favorable report from BCU and license from The Superintendency of Financial Services. Brokers also have to prove they have enough of substantial capital to function. Having acquired the authorization they will have to send financial reports in a timely and consistent manner, have adequate risk control in their transactions and comply with the regulation imposed on Forex brokers by BCU.

Top Brokers
// Top Brokers By Bonus Type

List of Brokers

BROKERUSER RATINGREGULATED BYHEADQUARTERSMIN. DEPOSITOFFICIAL SITE
Plus500
ASiC, CySEC, FCAIsrael$100Open Account
CFD Service. 80.6% lose money
AvaTrade
ASiC, BVI, FSA(JP), FSB, MiFIDIreland$100Open Account
Your capital is at risk
eToro
CySEC, FCACyprus$50Open Account
Your capital is at risk
Markets.com
CySEC, FSBCyprus$100Open Account
CFDs carry risk. 73% of traders lose
FXCM
BaFin, FCAUnited Kingdom$300Open Account
Your capital is at risk