Last update: 7 December 2020
5 min read

Banque de France Regulated Forex Brokers

Want to find the best brokers regulated by Banque de France? You’ve come to the right place. Our experts have examined hundreds of brokers to provide you with a list of the most reliable, trustworthy sites around.

Banque de France is a bit different to some of the other regulatory agencies in the world. It’s actually the Central Bank of France and, therefore, a completely government-owned entity. It is also directly linked to the European Central Bank (ECB), and is one of the most powerful central banks in the world.

Banque de France was founded in 1800 during Napoleon’s rule, and has been instrumental in helping France’s economy become one of the largest in the world. Now it’s time for you to take advantage of that esteemed history and start using the best Banque de France regulated brokers.

Instead of listing the best Banque de France regulated brokers, here are the top CySEC regulated brokers, which are more common:

  • HF Markets
  • easyMarkets
  • XM Group
  • HYCM
  • FBS
  • FXTM

Best and most trusted forex brokers in April 2024

How are Banque de France brokers regulated, and why should you use them?

Banque de France forex brokersBanque de France has several regulatory agencies under its wings such as the ACPR, AMF, CCSF, CCLRF, and GSBF, along with other banking supervisory agencies. Therefore, all financial companies operating in France are required by law to be regulated under the Banque de France’s subsidiaries, either directly or indirectly through the different regulatory departments. These regulatory departments oversee the functioning of a wide variety of financial organizations that include banks, brokers, insurance companies, and all types of firms that offer services related to the financial markets.
Forex brokers are regulated directly under the ACPR (Autorité de Contrôle Prudentiel) regulatory agency in conjunction with the AMF (Autorité des marchés financiers). The AMF is an independent regulatory organization that oversees the regulation of the French stock market to safeguard the interests of investors and companies listed on the national stock exchange.

Why does Banque de France regulate so few brokers?

There are very few brokers that are regulated directly under the ACPR due to the extent of EU regulations. Any broker regulated under the MiFID directive – or under any of its components such as CySEC, FCA, or BaFin – can provide financial services to the entire European continent. Therefore, any broker that is headquartered in the EU and is regulated by a recognized EU regulatory agency need not register under Banque de France to provide financial services to the French public.
French financial laws are also more stringent and involve a great deal of formalities, which deter companies from setting up camp under the rigorous framework of statutory guidelines. Most forex brokers find it easy to get regulated in other countries within the EU such as Cyprus – and enjoy the tax benefits as well. Therefore, Banque de France regulated brokers may not be as popular as some of the other brokers in the industry.

What Banque de France does for you

Strict regulatory protocols ensure consumer protection is at the peak of Banque de France’s mission and responsibilities. As a central bank of a nation which makes a wide range of financial decisions, Banque de France does not indulge in individual complaints, rather, the bank provides an operational structure for all companies to follow and implement. Therefore, in case of discrepancies, a consumer should follow a complaint procedure that is adopted by most of the EU member nations.
The ACPR and AMF works along the guidelines set forward by MiFID, and are similar in workings when compared to other regulatory agencies such as the FCA, CySEC, and BaFin. In case of consumer complaints, an investor should approach the company, the financial ombudsman, and the court, in that specific order. A consumer can only approach a higher authority if they feel that they haven’t received a favourable response from the company that they are dealing with. However, it is guaranteed that all genuine consumer complaints will be addressed in the best possible manner, or the companies responsible for the financial malpractice stand a chance of losing their license and receiving hefty fines.

Are Banque de France forex brokers more reliable than other EU brokers?

It is hard to differentiate brokers regulated under different regulatory agencies in the EU, since almost all countries participating in the EU are required to have a similar legal structure when it comes to broker regulation. The MiFID creates rules and statutory guidelines for regulatory organizations under various initiatives, and all financial companies operating in the EU are expected to follow these guidelines to uphold the integrity of the financial markets.
However, countries such as the UK, Cyprus, and Germany are at the forefront of regulation that it is considered sufficient for the entire EU to bank on the effectiveness of these country’s respective regulatory agencies. Regulation under the Banque de France is not necessarily indicative of the reliability or effectiveness of a broker, but if a broker is regulated by this agency, it proves the commitment of the broker in providing high-quality financial services for its clients.

How to find a Banque de France regulated forex broker

While it is true that there are only a handful of forex brokers regulated by the Banque de France, it is naturally easy to find regulated brokers through the bank’s official website. Searching through the ACPR or AMF databases can also provide access to a few brokers regulated under this organization, and you can verify the authenticity of a broker by comparing the license information provided with the information listed on the official Banque de France website.
As is the case with most of the other regulatory agencies, every consumer should be vigilant against financial fraud, and should perform adequate research before choosing a broker. Numerous brokers are known to advertise fake licenses and trick users into depositing money with them, therefore, consumers should perform extensive background research to ensure that they are indeed dealing with a genuine company.

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