Last update: 28 August 2020
7 min read

HCMC Regulated Forex Brokers

Read our guide to find out about the best HCMC regulated brokers in Greece. Our comprehensive, expert guide is not only 100% free but includes vital information on what the HCMC is, what their responsibilities are, and even tips on lodging a complaint if you run into problems.

Greece’s government debt crisis was reported across the world but it seems to have weathered the storm. Now, the question is: is it a sensible location for investment?

Trading in the forex markets is an investment option wherever you may be located and it seems Greece’s issues have had little effect on the popularity of trading. Much like anywhere else in the world, one very important consideration before you start trading is to find the best regulated broker. And Greek traders need to look for HCMC regulated brokers.

If you can’t find many HCMC regulated brokers, try some of the best CySEC regulated brokers:

  • Hot Forex
  • XTB
  • HYCM
  • XM
  • Plus500
  • FXTM

Best and most trusted forex brokers in April 2024

Tips for choosing the best HCMC regulated brokers in Greece

Choosing a forex broker is one of the most important decisions you’ll make as a trader. The market in forex trading has expanded rapidly in recent years and there are hundreds of brokers now fighting for clients. Rather than randomly picking a broker, you should spend time doing some research in order to find a broker that best suits your needs.

Not sure where to start? Here’s a checklist covering all the most important aspects:


The world of forex has gained a bit of a reputation for scams, dishonest and questionable brokers. Research online and you’ll find countless tales of brokers delaying withdrawals, withholding client funds, and some simply disappearing off the face of the earth with all their client’s money.

A number of brokers have also declared bankruptcy and used investor funds to repay debts. But choosing HCMC regulated brokers can protect you in some way from this type of problem, as regulations insist client funds are kept in segregated accounts.

All the best HCMC regulated brokers must also a process in place to deal with customer complaints, along with a compensation fund to cover certain losses. Choosing a broker that has been licensed by the HCMC, or any other recognized regulatory body, means you can expect them to meet the best possible standards including capital requirements. This type of broker in Greece will be required to handle deposits in a certain way, usually with segregated accounts, and act in accordance with accepted codes of conduct.

The risk with choosing an unregulated broker is that they may disappear with your funds. If that happens, you won’t have many options to recover your losses.


Choosing a HCMC regulated broker in Greece that shows itself to be transparent is important. Not only does it show that they have nothing to hide, but it makes it easy to find relevant information about the broker upfront before you sign up and register for an account. If you get the feeling a broker is trying to hide something, walk away.

Be wary of hidden costs

Forex services aren’t offered for free. You’re probably well aware of this fact, but do you know exactly how much you are going to pay for the privilege of using a brokers service? The main cost will be either in the form of the spread, or a commission charged by the broker.

However, there are a number of other costs you may have to pay, and these are often left out of the equation. How much will you have to pay if positions are left open overnight? Are there charges for making deposits and withdrawals? These extra costs are all going to have an impact on your profit margin.

How safe are your funds?

When trading, you want to be able to concentrate your attention on which trades to make. You don’t want to find yourself lying awake at night wondering whether you are ever going to see your money again!

The safety of your funds can be greatly improved if a broker uses segregated accounts. And this is generally a requirement for al the best HCMC regulated brokers. A regulated broker will be required to keep its client funds in separate bank accounts in a major bank.

Regulated brokers are also usually required to be members of a compensation scheme. Which provides further protection, should the worse happen. The HCMC is the regulatory body for brokers in Greece, and you’d be wise to look for one to safeguard your investment.

What is the HCMC?

hcmc logoThe initials HCMC stand for the Hellenic Capital Market Commission. It is the Greek financial regulatory body. Technically, the Bank of Greece is also a regulatory body for the financial industry – but those of you looking for regulated brokers in Greece will be more interested in the HCMC.

The Hellenic Capital Market Commission was set up as a legal entity following the passing of Law 1969/91 and further organized by Law 2324/1995. The aim of the Commission is to ensure the protection of investors, and work towards the goal of orderly and efficient operation of the capital market.

What does the HCMC do?

Like most global regulators, the HCMC has a varied and important position which includes a long list of responsibilities. Ultimately, their goal is to make sure you can trade safely – and that brokers 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?

Traders in European Economic Area states are also able to enjoy peace of mind from European Directives. Recent legislation known as MiFID – or Markets in Financial Instruments Directive – regulates firms which provide services to clients in relation to financial instruments such as shares, bonds, and derivatives. It also regulates the locations in which the instruments are traded.

It was first applied in 2007 and is currently under revision. The aim of MiFID is to integrate EU financial markets and increase the amount of cross-border investment orders. One way it is doing this is by imposing minimum regulatory standards for all member states, and by awarding passporting rights to all EU regulated brokers. This means an HCMC regulated broker is able to offer services across the European Economic Area. It’s great news for you, as it broadens the selection of brokers you can choose from. As well as the best HCMC regulated brokers, you can also take your pick from top CySEC brokers.

Making a complaint to HCMC

Unlike some regulators, HCMC will address investors’ complaints directly. Visit their official website to find a full address and phone number which you can use to get in touch. However, your first step should be to try and resolve the dispute with the broker directly. That way, you can avoid a long and drawn-out procedure with HCMC getting involved.

In their Mission and Duties statement, the HCMC make it clear they have “the authority to impose administrative sanctions and measures, such as reprimand, fines, trading and license suspension“. In other words, if your broker is acting unlawfully, they’ll punish them.

How can I check for HCMC regulation?

It is possible to check whether a certain broker is regulated by HCMC by visiting the Commission’s website and performing a search. This is the best way to find an up-to-date list of all the best HCMC regulated brokers.

The quicker way to check for licensing information is to look at the bottom of the page when you’re browsing a broker’s website. However, keep in mind that some brokers have been known to put up false information in the past. Therefore, checking the HCMC website itself is the safest option.

Frequently Asked Questions (FAQs)

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