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What is a Foreign Exchange Market?
The forex market is the market in which participants can buy, sell, exchange, and speculate on currencies. The forex market is made up of banks, central banks, investment management firms, hedge funds, and retail forex brokers and investors.
Forex Brokers Worldwide
Established in 2003 under the Financial Security Act, Autorité des Marchés Financiers (AMF) is the main agency in France that is responsible for safeguarding the stability of the French financial markets. BlackBull Markets still now do not have a presence in France but are keen on venturing into forex markets worldwide and therefore France is a new market for them where they will soon to establish their dominion in the near future.
All US forex brokers must be registered with the National Futures Association (NFA), the self-regulating body that provides the regulatory framework. The NFA also offers an online verification system called the Background Affiliation Status Information Center (BASIC), where forex brokerage firms can be verified. BlackBull Markets has a presence in New York in the US and qualifies to be one of the best brokers and therefore investors can thus choose them to be their investing partner.
The lack of transparency in the Forex market has left it vulnerable to numerous instances of malpractice. In the United Kingdom, the Financial Conduct Authority (FCA) acts as a watchdog. BlackBull Markets are soon to open an office in London in the UK; presently they have a server hub there. Investors looking to invest in the forex market can choose BlackBull Markets as their investing agent as it has the recognition of being the best broker.
Each country’s currency is managed by its central bank and/or government, and each often uses a different process, that’s why it gets tricky navigating the brokerage world. One of the biggest perks of trading with a Canadian forex broker is the Canadian Investor Protection Fund (CIPF), which ensures every trader’s account for up to $1 million. In Canada too BlackBull Markets do not have a presence but are keen on expanding worldwide which also brings Canada under their consideration.