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CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For FSA

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For FSA?

scored best in our review of the top brokers for fsa, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade USDJPY through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

The Financial Services Agency (FSA)

Financial Services Agency (FSA) (Kin’yu-cho) are an agency of the Japanese government responsible for regulation and supervision of Japan’s financial sector. The purview of the Agency includes financial institutions such as banks, financial instruments, business operators, insurance companies, trust companies, financial market infrastructures and foreign audit firms. The Agency are answerable to the Ministry of Financial Services and oversees the Certified Public Accountants & Auditing Oversight Board, and the Securities & Exchange Surveillance Commission (SESC).

History

The Financial Services Agency came into existence in June 1998 as an administrative branch responsible for supervising and inspecting financial institutions in the private sector. There were also responsible for the surveillance of securities transactions. In the same year, the Financial Reconstruction Commission (FRC) was established and by the end of July 2000, the FSA came under the FRC’s jurisdiction. This re-organisation made the FSA responsible for the planning of the financial system, a task that was previously performed by the Ministry of Finance. By January 2001, central government ministries were reorganised and FRC was abolished. This resulted in the FSA becoming an external body to the cabinet office and they became responsible for the disposition of failed financial institutions.

FSA Objectives

The FSA have three major policy objectives as a financial regulator:

  • Ensuring the stability of the financial system

  • Protecting the interests of users e.g. depositors, security investors, insurance policy holders and improving the convenience of market participants

  • Ensuring transparent and fair and financial markets

These objectives are shared by multiple regulating agencies around the world and they continue to serve as a guide for policy makers. However, the financial environment around the world has rapidly changed with technology and globalisation. The FSA have a responsibility to keep adapting their policies in alignment with these broad objectives to keep pace with the changing landscape.

Functions of the FSA

The following are the key functions that the FSA perform as the top financial regulator of the country:

  • Planning and policymaking pertaining to the financial system

  • Supervising and reviewing financial institutions in the private domain. Such institutions include banks, brokers, insurance companies, security market participants and exchanges

  • Establishing rules for trading in the securities market

  • Monitoring the adherence to these rules by market players

  • Establishing standards for financial accounting and other areas of corporate finance

  • Supervising and regulating CPAs (Certified Public Accountants) and audit firms

  • Engaging with international bodies on bilateral and multilateral fora to discuss financial issues, opportunities and challenges to develop a financial administration consistent with international standards

Organisational Structure of the FSA and Division of Responsibilities

The FSA reports to the Minister of Financial Services, who in turn answers to the Prime Minister. The Agency has its own commissioner who presides over the three main bodies within the organisation, which are as follows:

Planning and Coordination Bureau: The function of this body is divided into two prime areas: coordinating affairs pertaining to the entire Agency; and planning and policy making related to financial statutes, systems and regulations.

Inspection Bureau: Inspection Bureau monitors and invigilates financial institutions to ensure their compliance with banking acts and other related laws.

Supervisory Bureau: Supervises financial institutions and looks to instill in them the principles of responsibility and market discipline.

Apart from these, the FSA also oversees the functioning of following two organisations who have their own commissioners and who are answerable to the FSA.

Securities and Exchange Surveillance Commission (SESC): This is the market watchdog, which ensures fair play and integrity of market participants and protects the interest of investors. It also investigates any cases of misconduct in the market and verifies mandatory disclosures.

Certified Public Accountants and Auditing Oversight Board: This body is responsible for ensuring reliable auditing of financial results and other financial documents. It strives to ensure highest auditing standards and ethics in the country.

Role of the FSA in regulating FX/CFD Brokers

Regulating agencies around the world have framed rules to limit leverage and margin in light of such issues as the Swiss national bank pegging the Swiss Franc against the Euro in 2015. The subsequent losses were huge and were due to high leverage offered by brokers. However, Japanese brokers regulated by the FSA were able to weather the storm much better. Thanks to the foresight of the Agency, which had already put limits on the leverage an FSA regulated broker could offer to a client. The FSA also introduced rules to prevent offshore brokerage firms from offering financial services to Japanese customers. These measures have significantly reduced the risk taken by customers while engaging in Forex trades. However, it has been a difficult task for the agency to police the traders who are constantly looking for offshore brokers for the higher leverages they offer. The FSA are currently coordinating and seeking help from international regulators to limit this problem. They are also trying to persuade offshore brokers to open offices in Japan to serve its Japanese clientele.

Advantages of Dealing with an FSA Approved Broker

The FSA are trying hard to bring about structural reform in the Forex/CFD trading environment in order to protect the interests of customers and limit the risks in the system. It has been coordinating with foreign regulators to ensure that international brokerage firms oblige to FSA norms while dealing with domestic customers. All these would ensure that trades done through an FSA regulated broker are secure, safe, and the interests of the customer are safeguarded. As the market watchdog, the FSA take all measures to ensure that brokerage firms meet the highest standard of business practices and comply with disclosure rules.

Conclusion

The FSA provide an efficient framework for financial regulation, which instills customer confidence in the financial system. These regulations have evolved through changing needs over time, but they continue to hold customer interest and best practices as their fundamental pillars. The Agency ensures a fair, transparent and convenient environment for financial institutions to operate so that customers can fearlessly transact in the system.


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