What are the formal foreign exchange platforms and how to identify the true and false foreign exchange platforms?

What are the formal foreign exchange platforms? As far as the domestic situation is concerned, foreign exchange is a very sensitive word. Because foreign exchange transactions are conducted in US dollars, while China is RMB, it is not allowed to carry out foreign exchange business for companies in China, and the mainland has no relevant regulatory and business qualifications.

China's foreign exchange traders all trade through foreign exchange trading platforms or Hong Kong related foreign exchange trading platforms. Generally, foreign exchange platforms with regulatory qualifications of the US Securities Regulatory Commission and the British Securities Regulatory Commission are relatively authoritative, because foreign exchange dealers with these regulatory qualifications need to pay a certain amount of margin, and investors can get a certain amount of compensation in case of an accident.

What are the formal foreign exchange platforms in foreign countries? The largest foreign exchange dealers are Fuhui, Jiasheng, FXDD platforms, etc. However, at present, Fuhui is warned and punished by the US Securities Regulatory Commission in the United States, because it is suspected of illegal trading and has been kicked out of the U.S. market. Fuhui is dissatisfied with this, calling NFC (National Futures Association of the United States) as the interests of the exchange to crack down on competitors. At present, it has no impact on the business of Fuhui's other markets.

Most of the formal foreign exchange platforms use genuine MT4 or MT5 foreign exchange trading systems, and some use their own trading systems. When choosing a foreign exchange platform, investors must be aware whether the qualification of the platform is true. At present, there are many foreign exchange platforms in the market, and there are also a lot of fake platforms that have been exposed. Before that, the Hong Kong Hengxin Precious Metals Co., Ltd. was found to have problems and was investigated by the Hong Kong Securities Regulatory Commission. (although a member of the Hong Kong gold and silver exchange)

Domestic false foreign exchange trading platforms generally cheat by providing false platforms and using their own company's false trading software. The funds are not supervised as the platform says, but into the company's account. The company can control the number of points, control the customer disk, everything is false. Until the platform has enough funds, the company can not make money, and the world evaporates. Even if they complain, it's hard for investors to recover money.

In order to guard against it, investors should not only listen to the statements of trading platforms, but also learn to check by themselves, because some companies are disguised. The regulatory number provided by the company is real and qualified, but not the company's. Specific investors can go to the corresponding regulatory authorities (for example, FCA of the UK financial regulatory authority can enter the regulatory number on its official website to check).

What are the formal foreign exchange platforms? Investors should be cautious when meeting the so-called formal platforms. They should try their best to choose large platforms, check the specific situation online first, and never blindly enter the market.

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