Ranking of brokers with a banking license
Brokerage services in the Forex market, along with the usual companies, can provide banks and commercial banks, which have the appropriate permissions. It is believed that they are much more reliable, because even a banking license in the offshore zone requires equity in the hundreds of times greater than for the provision of dealing services, and government supervision and regulation are much stricter. The probability of one-day swindlers among them is unlikely. On this page is a list of the best forex brokers with a banking license.
If a trader is working with the bank, it has a number of distinct advantages, not only in comparison with the conventional dealing centers, but also with full brokerage companies:
- In order to provide such services, the bank must be registered in Russia, the US, UK or EU countries. Offshore banks usually are not certified as a forex broker;
- Bank accounts are much more reliable insured in the national reserve system, than the account of brokerage firms, to the authorized capital of which the requirements are much lower;
- Banks themselves are major market makers and the foreign exchange market is always open to its clients direct access to other liquidity providers are not playing against the traders and providing the best trading conditions and the minimum spread;
- The banks have a ramified network of branches, a large staff of personnel trained security service, think tanks and many other things that contribute to the high quality of services;
- Reputation bank, which in addition to traders, service a large number of companies and individuals, the test of time and there is no doubt;
- Financial activities of the banks and all the information about their capital, the founders, assets and debts are public by law.
The main drawback of banks that offer customers dealing services is different trading conditions than conventional brokers: large initial deposit, low leverage, complex registration procedure.
When choosing a broker to trade with a banking license is necessary to remember that even a bank can go bankrupt. In itself, the existence of a banking license reduces the likelihood of financial insolvency of the company, but can not eliminate it completely. Money, unlike vanished without a trace "kitchen" desk, return, but it will take some time.