3 Best HCMC Regulated Forex Brokers in Greece

Choose your quick section of our best HCMC Regulated Forex Brokers in Greece below.

Our 3 Best Handpicked HCMC Regulated Forex Brokers in Greece Revealed:

• ✔️FP Markets
• ✔️FXTM
• ✔️eToro

This will be subject to terms and conditions issued by the HCMC and the Greek authorities. As Greece is a part of the EU, all Forex brokers will fall under the MiFID derivative and can provide their services to EU Forex traders, and to international clients through the European Economic Area (EEA) agreement. Here is an overview of 3 of the Best HCMC Regulated Forex Brokers and Trading platforms available to Greek Traders.

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.

Over 100 instruments and over 60 currency pairs in total are on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

Pros and Cons

Trading benefits

All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese. Customer Service is available via email, phone and live chat.

FXTM

FXTM or ForexTime was founded in 2011 and  is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a Metatrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

Pros and Cons

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Trading Benefits

Customer Service is available via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

eToro

eToro is an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK.  eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

Pros and Cons

eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert.  Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

Trading Benefits

eToro supports a wide range of languages including English, German, Spanish, French, and Italian.  The company has customer support  available – 24/6,  via telephone and support ticket.

Tips for choosing the best HCMC Regulated Brokers in Greece

Choosing a forex broker is one of the most important choices  Greek Traders  will ever make when entering the global financial markets. Rather than picking a company who claims to be the best, traders should spend their time on research in order to find a broker which best suits their individual needs.  Choosing HCMC regulated Forex brokers can offer traders a level of protection as regulations insist client funds are kept in segregated accounts.  Choosing a broker that is licensed by the HCMC, or any other recognized regulatory body for that matter, means investors can expect them to meet the best possible standards. Choosing an HCMC regulated broker which is known as “transparent” is very important. Greek Traders should never invest with a Broker who has something to hide.  Another consideration to make is methods of payment available.

Although there is a wide choice of payment solutions available, bank transfer has retained its popularity. Payment methods are used to deposit funds into a variety of online accounts, and more specifically, into an traders account on a Forex broker’s website. A Bank transfer can be arranged via phone or online.  Investors will need to upload funds into the balance of their trading account before they can start to live trade. A Bank Transfer is increasingly popular with traders as it is a straight-forward process.  When a traders makes use of a Bank Transfer to deposit their funds, they will be prompted to fill in a short form. Before the trader confirms their transaction, they should be 100% satisfied that all this data is entered correctly. When they specify the amount, they wish to upload via the bank transfer , investors should authorize the transaction and wait for the funds show up in the balance of their account.  Handling a bank transfer by using online banking is an efficient and prompt option for multiple traders. Firstly, investors will need to navigate to the section dedicated to payments, input the preferred bank transfer amount, and pick bank transfer as their option of choice. A Bank Transfer can also be used for fund withdrawal.  One of the multiple aspects in which bank transfers stand out from the rest, is the fact that an investors deposit will come straight from the bank.  A Bank Transfer is an exceptionally straightforward payment solution.

HCMC Forex Brokers and Regulations in Greece 

HCMC was formed in 1927 and Greece has an renowned history in the global financial markets. In 2000, the HCMC introduced multiple laws and policies in order to ensure that HCMC regulated brokers and other corporate firms follow a strict code of conduct for protecting the integrity of the markets. The future of HCMC Forex brokers looks bright due to recent reformatory guidelines and the intervention of the EU in regards to the  performance and oversight of financial companies which operate in the Greek financial system.

Making a complaint to HCMC

HCMC is well-known for addressing investor complaints directly. Investors can visit the official website in order to find a full address and phone number to get in touch. However, an investors first step should be to try and resolve the dispute with their chosen broker directly. This will help Greek traders avoid a long and drawn-out procedure.  The HCMC has made it clear that they have the authority to impose administrative sanctions and measures, such as reprimand, fines, trading and license suspension.

In Conclusion

Forex is an online business and can be conducted from anywhere in the world. With a Market this large, it is of the utmost importance that a trader chooses a regulated Forex Broker who has a long-standing positive reputation.  Making the wrong choice can ultimately lead to a massive loss in capital.

FAQs

What is the HCMC?

HCMC stand for the Hellenic Capital Market Commission, which is the main financial regulatory body in Greece.

What does the HCMC do?

The HCMC has an important position which includes a long list of responsibilities. Their ultimate goal is to make sure investors can trade safely – and that brokerage firms in the country are held accountable for any unlawful or misleading actions.

Here are some of the key responsibilities of the HCMC:

Licensing

Monitoring

Supervision

Control of capital market intermediaries

What is a HCMC regulated broker?

A HCMC Regulated Forex Broker is a broker which is regulated by the Hellenic Capital Market Commission in Greece.

How can I check for HCMC regulation?

For traders who wishes to check whether a certain broker is regulated by HCMC, they can do so by simply visiting the Commission’s website and performing a search.

Are HCMC regulated brokers safe?

Yes – The safety of a traders funds can be greatly improved if their chosen broker uses segregated accounts. This is generally a requirement for all HCMC regulated brokers. A regulated broker is required to keep its client funds in separate bank accounts in a major bank.