Best BVIFSC Regulated Forex Brokers 2019
The BVI islands offer incredible benefits for the Forex trading community, which has resulted in a substantial increase in brokerages and traders in the British Virgin Islands. But which are the best BVIFSC regulated brokers to work with? Take a look at our best BVIFSC brokers inside.
The brokers below represent the Best BVIFSC Regulated Brokers overall.
Best BVIFSC Regulated Brokers for Forex Trading
Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.
AvaTrade is an online trading and investing platform that gives you access to foreign currencies, CFDs (contracts for difference), and cryptocurrency trading through its mobile, web, and desktop trading platforms.
AvaTrade offers you a variety of direct and indirect copy trading opportunities, and collaborates with leading signal providers to ensure that you can opt to follow traders from around the world. With AvaTrade you can trade on leading platforms for copy trading: ZuluTrade, Duplitrade – Easily and conveniently copy trades from multiple signal providers.
Introduction to BVIFSC Regulation
The Caribbean hosts countless beautiful and exotic islands, offering relaxation and paradise. But there is one group of islands that offer this and so much more, the British Virgin Islands. The islands offer both corporations and individuals amazing tax breaks guarantee a zero-percentage tax structure. BVI also allows no taxes on capital gains, which allows companies and investors to enjoy 100% of their profits. With all these advantages comes an influx of broker development. The islands need reliable and competent regulation, which is why the nation developed the British Virgin Islands Financial Services Commission (BVIFSC).
With all the popularity and the influx of brokers and traders coming to the BVI, it was evident a strong regulatory authority was needed to please the global financial community. So, in 2010 the BVIFSC was introduced and has been playing an essential role in the development and regulation of Forex brokers among other financial entities in BVI. The BVIFSC regulates financial companies according to the global standards of regulation but is not as respected as many of the other regulatory authorities, such as in the US, UK, Australia, and many of the EU nations.
The BVIFSC has numerous responsibilities with their role of protecting and maintaining the integrity and transparency of financial markets in the British Virgin Islands. The regulatory authority is responsible for both the financial markets and the protection of traders and investors participating in these markets. Therefore, the BVIFSC must create and implement rules and regulations for all the financial entities they oversee. As well, they must enforce these rules and supervise firms to ensure they comply with all the guidelines laid out by them.
How BVIFSC Regulation Protects You
Since the British Virgin Islands are such an attractive destination due to its tax structure, there are many Forex brokers and companies alike who come here. Although, there are also many companies who set up here purely for tax benefits and operate their services in fraudulent ways. Traders must be wary of this and ensure they are competently regulated by BVIFSC. BVIFSC regulation protects investors through their licensing and supervision of regulated firms. They have a strong stance against any companies with a negative reputation in the industry, which in return protects investors.
Guidelines for BVIFSC Regulated Brokers
Forex brokers governed by BVIFSC regulation must adhere to the various guidelines imposed on them. This is to ensure brokerages maintain safe, secure, and transparent financial practices, as well as to maintain the integrity in financial markets. BVIFSC regulated brokers are required to maintain safe, secure, and transparent financial practices. As well, they are required to advertise in a fair and true way, with the avoidance of misrepresenting facts to sway an investor. Brokers are also required to comply with the supervision of the BVIFSC by providing periodic financial audits and such.