UK forex brokers concerned about influx of other EU ‘MiFID’ brokers
UK forex brokers concerned explained by professional Forex trading experts the “UK forex brokers concerned” FX trading team.
UK forex brokers concerned
An interesting article in today’s Financial Times points out that many established UK-based, FCA-regulated brokers are concerned about the growing number of ‘passport’ brokers from other EU countries setting up shop in London.
The article points out that 45 foreign brokers offering forex or CFD trading passported into the UK last year, compared to just 29 in 2010, according to FCA data.
The FT contends that the influx in foreign brokers coming to the UK has sparked concerns among industry leaders, who argue that these brokers threaten the sector because they do not come under the same strict regulatory scrutiny of the FCA, while still operating freely in the UK.
Some background. The European Union law that stipulates for unified regulation for investment services across the European Economic Area (EU plus Iceland, Norway and Lichtenstein) called MiFID (Markets in Financial Instruments Directive) brings extra
UK forex brokers concerned Conclusion
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