Best Danish FSA (Denmark) Regulated Forex Brokers 2019
Denmark is one of the most developed and prosperous countries in the world and Europe. You can virtually trade any financial market there. However, if you decide to open a trading account, you should trade with the best brokers available. But how can you know which they are? Read on to see our list of the very best FSA brokers.
Introduction to FSA Regulation
FSA is the Danish Financial Supervisory Authority, commonly referred to as Finanstilsynet. It was established in 1988 when two separate institutions, the Insurance Supervisory Authority and the Supervisory Authority for Banks and Savings Banks merged. The newly formed agency became responsible for two primary tasks: firstly monitoring and ensuring that financial institutions offering financial services have enough of their own capital to cover risks and the second one to supervise all the financial markets in Denmark. The institution is part of the Ministry of Economic and Business Affairs. FSA gets its funding through fees that come from supervision of all agencies such as banks, insurance companies, investment funds who have to pay for their registration license and supervision work each year.
As has been said above the main obligation of FSA is to monitor all companies providing financial services including: banks, various credit institutions, pension and insurance companies, securities companies, Forex brokers and etc. All of these companies must have enough capital to cover risks so that their clients would not become victims of their inadequate risk taking. FSA also monitors all activities of the mentioned companies, especially that they disclose all necessary and relevant information about their transactions. Offered services by financial operatives have to meet strict requirements and in case of abuse by the operators (mostly inside trading and price manipulation) FSA takes severe measures by publicly reprimanding the transgressors, placing heavy fines and on rare occasions even revoking their licenses. The regulator also helps the government to draft regulation and financial laws and similarly informs financial community on key events, statistics and developments in financial markets.
How FSA Regulation Protects You
FSA protects you ensuring that regulated brokers have enough of their own capital and do not exceed the risks that are allowed by FSA. They also require that brokers keep their clients money in segregated accounts and do not trade against their customers. The regulator indicates all price manipulation and inside trading cases on their website and takes legal action against such brokers. This keeps all the rest from foul play at all times. Any investor can also file a complaint against a broker and FSA will analyze the situation carefully. If any wrongdoing is found on behalf of a broker the regulator will force them to deal with the issue and possibly punish them accordingly.
Guidelines for FSA Regulated Brokers
It goes without saying that all financial institutions providing investment services will definitely have to be licensed by FSA and operate under its supervision, comply with rules and regulations issued by it and disclose all required information about their company, management structure, transactions and all internal knowledge of specific market sensitive information. They will have to pay annual fees for supervision and limit their risks as defined by FSA regulation.
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List of Brokers
|BROKER||USER RATING||REGULATED BY||HEADQUARTERS||MIN. DEPOSIT||OFFICIAL SITE|
|ASIC, CySEC, FCA, FSB, ISA, MAS||Israel||$100||Open Account|
|CySEC, FCA, IFSC||Cyprus||$5||Open Account|
|AMF, ASIC, BaFin, CONSOB, FCA, FSB||United Kingdom||$50||Open Account|
|ASIC, CySEC, FCA||Cyprus||$200||Open Account|
|FCA||United Kingdom||$100||Open Account|