Is it necessary for a Forex broker to have a license, or can they operate without one?
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Yes, it is absolutely necessary for a Forex broker to have a license if they intend to operate legally and ethically. A licensed broker is regulated by a financial authority, which ensures they follow strict standards related to transparency, fund security, and fair trading practices. Trading with an unlicensed broker exposes clients to higher risks, including fraud, lack of fund protection, and limited legal recourse in disputes. Regulatory bodies such as the FCA (UK), CySEC (Cyprus), or ASIC (Australia) provide oversight that protects traders. To ensure you're choosing a trustworthy broker and not falling into a scam, always verify their regulatory status—visit this website to learn how to check a broker’s license and what red flags to watch for.