Why Does It Matter If a Broker Has a License in Vietnam?

A broker’s licensing status is critical for several reasons:

  • Legal Compliance: Vietnamese regulations, such as Decree 70/2017/ND-CP and SSC guidelines, ensure forex trading operations are conducted legally and ethically.
  • Protection Against Noncompliance: Engaging with unregulated or unauthorized brokers can lead to legal issues, financial loss, or penalties due to noncompliance with Vietnamese laws.
  • Fraud Prevention: Proper licensing helps identify legitimate brokers, reducing the risk of encountering scam brokers and enhancing trading safety.

As a global multi-asset broker, Exness holds licenses from top-tier jurisdictions such as the FCA, Cyprus SEC, and FSCA. However, Exness does not currently hold a specific license in Vietnam. Let’s explore what this means for its legal status.

Exness regulation, is it a scam?

Exness regulation, is it a scam?

Exness is not a scam brokerage. Founded in 2008, Exness has become a trusted name in the brokerage industry, operating in over 190 countries with more than 150,000 active Vietnamese traders. With transparency in its operations, strong security measures like segregated accounts, and cutting-edge technology, Exness stands out among top competitors.

While Exness does not operate directly under Vietnamese financial regulations, it remains compliant with reputable global regulatory standards, ensuring that traders in Vietnam can safely invest with Exness.

Exness International Licenses

Exness holds multiple regulatory licenses from respected financial authorities worldwide, ensuring a secure and compliant trading environment. Below is a list of its licenses:

  • Cyprus Securities and Exchange Commission (CySEC): Exness (Cy) Ltd is authorized and regulated by CySEC (license number 178/12), overseeing investment services in Cyprus and complying with EU MiFID II regulations. Note: Exness (Cy) Ltd does not offer services to retail clients.
  • Financial Conduct Authority (FCA): Exness (UK) Ltd is regulated by the FCA in the United Kingdom (Financial Services Register number 730729), ensuring adherence to UK financial standards. Note: Exness (UK) Ltd does not offer services to retail clients.
  • Financial Services Authority (FSA): Exness is licensed by the FSA in Seychelles, regulating its operations in the region.
  • Financial Sector Conduct Authority (FSCA): Exness (SC) Ltd is authorized as an Over-The-Counter Derivatives Provider (ODP) and Exness ZA (Pty) Ltd as a Financial Service Provider (FSP number 51024) in South Africa.
  • Central Bank of Curaçao and Sint Maarten (CBCS): Exness holds a license for operations in the Caribbean.
  • Financial Services Commission (FSC): Exness is licensed by the FSC in the British Virgin Islands and Mauritius (license number GB20025294 for Exness (MU) Ltd).
  • Capital Markets Authority (CMA): Exness is regulated by the CMA in Kenya.
  • Jordan Securities Commission (JSC): Exness holds a license for operations in the Middle East.

These licenses ensure Exness adheres to international financial laws, providing a secure trading environment for clients, including those in Vietnam, when complying with local regulations.

Exness is a globally recognized forex and CFD trading platform, offering Vietnamese traders access to a wide range of financial instruments, including currencies, commodities, and cryptocurrencies. Exness operates under international licenses from reputable authorities like CySEC and the FCA. However, Exness is not overseen by local authorities such as the State Bank of Vietnam (SBV) or the State Securities Commission of Vietnam (SSC). Under Decree 70/2017/ND-CP, forex trading is permissible only through SBV-approved channels. Vietnamese traders must ensure compliance with these regulations to avoid legal risks when using Exness.

Conclusions

Exness is legal in Vietnam, supported by proper global licenses, ensuring a reliable platform for trading. However, Exness does not offer specific Vietnam-registered trading products. While Vietnamese residents can open international accounts with Exness, users should weigh the risks of using offshore brokers against SSC-registered alternatives to ensure compliance with local regulations.

FAQ

Is it illegal to use Exness in Vietnam?

Using Exness is not illegal in Vietnam if you trade through SBV-approved channels and comply with Decree 70/2017/ND-CP. Trading outside these regulations may violate local laws.

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