LidyaFX Forex Regulation
Today, broker regulation is an important factor in reliability and trust for the end user. It is, however, quite important to understand the idea behind any regulation.
Regulation is a set of rules a broker must comply with. A regulated broker is usually annually audited and checked regarding whether it adheres to regulations or not. But it is very important to note that no amount of regulation can directly influence the relationship between a client and their broker. Any highly unlikely yet possible conflicts are subject to legal proceedings.
Despite regulation being in place for some brokers, on January the 15th 2015 several large brokers became bankrupt; client funds were not properly accounted for which left clients reeling. So, even with regulation, the onus is still on the company to ensure they operate ethically. Lidya Trade operates with integrity, openness and honesty and prides itself on customer service levels, all traits which are not enforceable by any amount of regulation.
International financial regulators set the industry standards that everyone must comply with. We all want honest and transparent rules in the market. Lidya Trade applies these rules in its business. We are already working de facto in compliance with international regulation standards.We are registered with the FSA of St Vincent and the Grenadines.We will continue to apply the standards we believe in and are open to recommendation put to us by our clients. Lidya Trade has made application to the UK’s FCA and awaits further instruction from them.