ASF Brokers

The Forex brokers operating in Romania consist of a mix of both regulated and unregulated brokers as the local authorities have a hard time stopping the unregulated brokers from operating. Unregulated brokers have been able to successfully offer their services to Romanian citizens due to the somewhat anonymous operations of the internet. However, the national regulatory authority of Romania, the Autoritatea de Supraveghere Financiara (ASF), translated to the Financial Supervisory Authority (ASF), is stepping up and taking action.

show more

Introduction to ASF Regulation

The Financial Supervisory Authority (ASF) was established as an autonomous administrative authority which replaced the duties of the three regulatory entities; the National Securities Commission (CNVM), the Insurance Supervisory Commission (CSA), and the Private Pension System Supervisory Commission (CSSPP). Now, the ASF works in conjunction with financial regulatory directives of the European Union as Romania is a member state since 2007. As well, it is the only national authority which can represent Romania’s financial interests before international regulatory organizations. Therefore, the ASF has a very integral role in the financial well being of Romania.

ASF Responsibilities

The ASF is responsible for the supervisory framework of the non-banking market and all the participants and operations involved. This includes the authorization, supervision, regulation, and control over the following entities in Romania:

All the intermediaries of financial instrument operations, which includes a wide variety of participants in the financial and investment sectors.

Insurance related activities, businesses and intermediaries.
The private pension system

The ASF is responsible for enforcing their rules and guidelines on the above entities in order to protect the general public and citizens of Romania from fraudulent financial practices.

How ASF Regulation protects you

As mentioned above, one of the main responsibilities of the ASF is to protect the general public from fraud in the financial ecosystem through enforcing regulation. One of the ways they enforce their regulations is to investigate and physically raid unregulated and fraudulent brokerages. One of the ways they discover these brokers is through their customer communication directory where people can file complaints against brokerages. As well, the ASF will inform traders of any known or suspected fraudulent brokers. They will also publish useful and helpful information on their website for staying safe in the online trading environment.

Guidelines for ASF Regulated Brokers

The ASF imposes strict guidelines on Romanian brokers to ensure they are compliant with all the rules and regulations set by them. For instance, all ASF regulated brokers must undergo periodic financial audits by a reputable third party auditing company. As well, regulated brokers must submit financial reports regarding their investment products and services to the ASF. Plus, brokers must hold their clients funds in secured and segregated Romanian bank accounts to protect investor funds in the event of insolvency.

1 brokers listed
1 2 3 4 5 6 7 8 9 10
  • Platforms: MetaTrader 4
Your capital is at risk