FSRA - Financial Services Regulatory Authority

What is FSRA?

The Abu Dhabi Global Market (ADGM) is an international financial center located in Abu Dhabi, operating under its own legal framework based on English common law. It brings together local, regional, and international businesses under a high-standard regulatory and supervisory framework.

The Financial Services Regulatory Authority (FSRA) is the independent regulatory body of ADGM, responsible for overseeing financial services, ensuring transparency, stability, and mitigating risks within the system.

How does FSRA regulate forex brokers?

1. Client fund protection: Licensed brokers must segregate and safeguard client funds when providing forex services.

2. Minimum capital requirement: Forex brokers operating in Abu Dhabi must hold an initial capital of at least USD 500,000.

3. Reporting obligations: These include quarterly profit reports, audit reports, financial statements, Internal Risk Assessment Process (IRAP), anti-money laundering reports, and client fund audits.

How to verify if a broker is FSRA licensed?

You can check at: Public Registers – FSRA.

Steps:

1. Obtain the broker’s name from their official website.

2. Enter the name in the search bar of FSRA’s public register.

3. Verify if the broker is authorized to provide “Arranging Deals in Investment” or “Dealing in Investments as Principal” for retail clients.

4. Cross-check details (company name, website, email, etc.) between FSRA’s record and the broker’s official site. If they do not match, the broker may be fraudulent.

How to resolve disputes with an FSRA-regulated broker?

If a dispute arises, you can:

1. Contact the broker directly to seek a resolution.

2. If unsatisfied, escalate the complaint to FSRA by:

• Submitting an online complaint form: Submit a Complaint
• Sending an email to: fsra.complaints@adgm.com

3. If the above steps fail, take the case to the courts in Abu Dhabi.