FMRRC – everything about the regulator

How is certification carried out by the FMRRC and why is their license in demand among brokers? Everything about the regulator.

The regulator FMRRC was founded in 2011. For such a long period of work, he managed to earn a certain reputation for himself. Specifically and briefly, it license is useless and does not inspire confidence in traders. FMRRC certification is conditional and any broker can easily obtain their license. More on this below.

The Financial Market Relation Regulation Center is best known for the “regulation” of binary options brokers. And now more about why their license actually means nothing.

FMRRC certification

So, what is the FMRRC and why do brokers pass their certification? The definition and purpose of the regulator is on their official website https://www.ifmrrc.com.

FMRRC is a non-commercial organization that was created to control the level of services provided by brokers and dealing centers, as well as the reliability of services of cryptocurrency market participants.

The main activities of the regulator:

• Assessment of the activities of financial organizations and their certification;
• Coordination of the activities of participants in international financial markets;
• Minimization of risks for participants in financial markets;
• Development of assessment systems for financial institutions with the subsequent implementation of these systems in practice;
• Creation of a compensation fund for clients of companies certified by the IFMRRC.

Any of the brokers can receive the FMRRC certificate. For certification, a broker must pass a quality check of the services provided. But the check will be very conditional.

After all, the Center for Regulation of Relations is a non-governmental organization. For certification, the broker must pay an entry fee, the price of which is about $ 4000. This is the only source of income that supports the existence of this organization.

Therefore, they will not refuse certification to brokers and conduct serious checks.

But a lot of brokers want to get their license. For what?

FMRRC license

The FMRRC license still remains in demand among forex and binary brokers. There are several reasons for this.

Firstly, it allows brokers to loudly announce the presence of a regulator. The presence of regulation is much more credible than its absence. Most beginners will not understand their reliability. The main thing is that there is a license. And the broker will try to notify you as much as possible about its reliability due to the presence of the regulation of the FMRRC. As mentioned above, their license is easy to obtain and very inexpensive in comparison.

Secondly, the FMRRC “regulates” binary options. Binary options are not recognized as a financial instrument by most states. The Central Bank and government regulators bypass them.

And the FMRRC decided to “regulate” binary options. Then everything goes as described in paragraph 1. It should inspire confidence in the reliability of the broker and your security.

In fact, this license is useless. More traders are starting to understand this lately. As a result, some brokers stop spending money on a license or do not renew it.

Some brokers even falsify the certificate from the IFMRRC. They take some kind of cat certificate and just paste their company name in Photoshop without even changing any numbers.

Refund reviews

One of the functions of the FMRRC is to create a compensation fund for clients of companies that have passed their certification. In other words, the regulator must make a refund to clients in the event of confirmed fraud by a certified broker.

So does it return the money? Reviews indicate that this is not happening. It is impossible to find reviews (even fake ones) about the return of funds to traders from the regulator.

On the contrary, fraudsters began to use this situation. They call as representatives of the regulator and start talking about the refund from the broker. But everything is not so simple, for this you will first need to pay. When you pay, both the representative and your money will disappear.

Therefore, in order not to lose even more money, it is worth understanding: the Financial Market Relation Regulation Center does not return money.

List of certified brokers by FMRRC

The list of certified brokers of the FMRRC can be found on their official website and in this article. This list is often supplemented by new brokers who want to attract an audience and new clients.

Of course, many are already aware of the extremely low status and authority of the FMRRC as a “regulator”. But it was able to surprise a little. It surprised in a bad way. About 90-95% of certified brokers of the FMRRC are scammers. And this can be seen even without a detailed review of these brokers. With almost all these brokers, this becomes clear literally from the first minutes on the site. When you doubt a little and start looking for more information about them, then the guesses are confirmed. As is confirmed by the uselessness of the IFMRRC license, which any scam broker can obtain.

List of certified forex and binary brokers by FMRRC.

Broker	Official site	Note	Review
7Option	https://7option.com	Scam
ACF	https://acceleratedcapitalfirm-acf.com	Scam
AFS Finance	https://afs-finance.com	Scam
Axes	https://axes.co	Scam
Binany	https://binany.com	Scam
Blue Trading		Scam. Site not available
BrightWIN	https://www.brightwinsecurities.com	Scam
Dafex	https://www.dafex.com	Scam
Dowmarkets	https://dowmarkets.com	Scam
EkolFx	https://ekolfx88.com	Scam
Finmax	https://finmax.com	Scam	Finmax Review
FxKapital	https://www.fxkapital1.com	Scam
KaleFx	https://kalefx38.com	Scam
MaxiTrade	https://maxitrade.com	Scam
MeritGroup	https://meritgroup.trade	Scam
Olymp Trade	https://olymptrade.com		Olymp Trade Review
Pocket Option	https://pocketoption.com		Pocket Option Review
Quotex	https://quotex.io		Quotex Review
Umarkets	https://umarkets.ai	Scam
World Markets	https://worldmarkets.com	Scam