Best PFSA (Poland) Regulated Forex Brokers 2018
If you are based in Poland, you should only trade with a PFSA regulated broker. Want to know which ones are regulated and of these which ones you should trade with? We have compiled a list of the best PFSA brokers, based on a number of key areas, including service, product and reliability.
Introduction to PFSA Regulation
Poland is one of the largest countries in the European Union and has a large population interested in forex trading as well. With such high popularity comes a greater number of scams as well. This has caused the Polish government to intervene and introduce many regulatory measures. The country has been quite proactive in attempting to protect Polish traders and investors. The success of this protection can be appointed to the regulatory authority responsible, known as the Polish Financial Supervision Authority (PFSA).
The PFSA is the sole regulatory authority of financial markets in Poland, and was only established in 2006. Despite being relatively new, the authority has come to be well respected and competent with fulfilling its role in protecting consumers and the integrity of financial markets. Before PFSA regulation came to power, brokers were regulated by the Securities and Exchange Commission (SEC) of Poland. Since then, the PFSA has taken on more responsibilities that the SEC ever had and has been considered one of the most efficient regulatory bodies in all of Europe.
The PFSA is responsible for the regulation of all financial companies in the country. This includes industries in the banking, securities trading, insurance, pensions, electronic money transfer, fund management, payments, and other financial entities in Poland. With the regulation of all these companies, the PFSA must implement new laws, acts, and policies for the supervision and regulation of these financial firms.
How PFSA Regulation Protects You
The protection of consumers is of the utmost importance to the PFSA. They ensure their protection by the strict enforcement of their regulatory guidelines on forex brokers. As well, they promote a competitive and transparent atmosphere in the Polish economy. This provides investors with higher quality brokerages and a safe and transparent economy. All in all, traders and investors are assured high quality services and protection due to the high standards of the PSFA.
Guidelines for PFSA Regulated Brokers
PFSA regulated forex brokers are under various guidelines set forth from not only the PFSA, but the MiFID, polish authorities, and financial experts. These guidelines are being revised and updated as needed, and are set in place to protect both investors and the economy. The latest guideline from the PFSA is regarding maximum leverage for all PFSA regulated forex brokers. Now forex brokers are restricted with the amount of leverage available for forex trading. The maximum leverage is now 1:100, which is significantly lower than other European countries. All forex brokers in Poland must abide by this and all other guidelines imposed by the PFSA and coinciding authorities. Without cooperation they will fail to obtain licensing and deemed illegal to offer their services to Polish traders and investors.
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List of Brokers
|BROKER||USER RATING||REGULATED BY||HEADQUARTERS||MIN. DEPOSIT||OFFICIAL SITE|
|ASIC, CySEC, FCA||Israel||$100||Open Account|
|ASIC, BVI, FSA(JP), FSB, MiFID||Ireland||$100||Open Account|
|ASIC, CySEC, FCA||Cyprus||$200||Open Account|
|CySEC, FSB||Cyprus||$100||Open Account|
|BaFin, FCA||United Kingdom||$300||Open Account|