It has set a number of requirements to forex brokers authorized to operating in the country. These include record keeping, transparent pricing, minimum capital adequacy, bank of ireland forex client accounts, minimum competency requirements, and more.
CBI keeps a register of regulated companies and anyone can check whether a certain forex broker is licensed or not. A, as well as updates to it. Measures proposed by the Central Bank of Ireland include Introducing negative balance protection, a maximum leverage limit of 1:25 and prohibiting bonuses and other promotions. These measures are consistent with ESMA’s guidelines and with restrictions imposed by other European regulators. Most brokers operating in Ireland are not licensed by the CBI, but are instead regulated in another EU member state and provide financial and investment services under the MiFID passporting rules.