A new service that monitors the validity of broker's licenses has been launched by TrustedBrokers.com. The service, called License Checker, uses a proprietary algorithm to monitor the websites of regulatory authorities in the European Union, United Kingdom and United Arab Emirates in near real-time, to ensure that brokers are licensed and in good standing.
License Checker is designed to help retail traders protect themselves from fraud and scams. In recent years, there have been a number of high-profile cases of unlicensed brokers and exchanges posing as legitimate businesses. By using License Checker, traders can be sure that they are working with a licensed broker who is authorised to be in business.
In addition to protecting traders from fraud, License Checker can also help traders save time and money. By automating the process of checking broker's licenses, and linking to each broker’s license, License Checker helps traders verify the good standing and comprehensiveness of a broker’s license prior to opening an account.
“We’re excited to launch License Checker and help retail traders protect themselves from fraud and scams,” said Stefan Bottine, General Manager of TrustedBrokers.com. “The recent collapse of FTX has shown that no one can take a broker’s regulatory standing for granted.”
License Checker is available now to all users of the TrustedBrokers.com comparison service. A checkmark shown alongside each broker’s licenses in guides and comparison tables validates its good standing. To learn more, visit https://trustedbrokers.com/uk/.
TrustedBrokers.com is a leading comparison service for Forex and CFD traders. It is committed to empowering traders with the information they need to find the best trading account for them. TrustedBrokers.com strives to be a trusted partner for traders seeking impartial information. Every month, TrustedBrokers.com reaches over 50,000 users seeking to switch brokers or start trading.