Want to ask the master, is there a guarantee institution for our capital in forex business that is available in the broker if something happens to a broker, where can we claim our money, thank you..
If the broker is regulated by a certain body, then if there is fraud committed by the broker, we can report it to that body. As an example, FXCM. The well-known broker FXCM, which is also a member of NFA, CFTC regulation, was sanctioned for violations and was required to pay a fine of $2,000,000 (2 million US dollars, or approximately Rp. 18 billion) due to violations of its system resulting in losses to its customers.
@ Karmen:
The guarantee is provided by an internationally credible regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA. A credible regulatory body is one that has been tested and is globally recognized, and imposes strict sanctions on brokers if they are found to have violated agreed-upon terms. These regulatory bodies are also responsible for the security of client funds.
If something happens to a broker that has been regulated by the aforementioned internationally credible regulatory body, you can file a claim with the regulatory body by attaching valid account proof.