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The Jordan Securities Commission (JSC) was established in 1997, which is responsible for the oversight and regulation of the financial services industry within Jordan.
Its vision is to upgrade the national capital market, to have a fair, transparent and efficient attractive environment to investment.
JSC regulates, monitors, and supervises the business operations of the Amman Stock Exchange, the Securities Depository Center, financial services companies, public shareholding companies, investment funds and certified financial professionals.
JSC continuously enforces the Securities Law and its related regulations to maintain a sound investment environment and protect investors. What’s more, JSC is committed to securing investor protection and market development and to enforcing disclosure of information regulations pertaining to the securities market.
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1. Safety of Client Funds:
The Licensed Person shall segregate client 's moneys and securities that are considered a deposit therewith from its own moneys and securities, in accordance with the conditions specified by the Board which should be included in the agreements concluded with the clients.
2. Requirement on Forex Brokers' Reports:
Annual Report; Audited Semi-annual Report; Employment Report; Anti-laundering Reports.
Generally speaking, JSC-regulated broker profile will be found at the Brokers page on JSC website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as below:
1. Find the name of the forex broker, which you can get from the broker's website;
2. Search the broker's name in the list on
http://www.sdc.com.jo/english/index.php?option=com_public&member_cat=902 ;
3. If the broker's name is not in the list, it means that it may be an unauthorized broker and please watch out it.
If yes, click the name to check more details of the broker: check if the broker has been granted license of 'Financial Broker';
4. If all the steps above have been done, don't forget to check the most important information: check if the firm details published on JSC website matches the ones you'll go to trade with, especially the website and email etc.
If no, please keep away the broker because it's probably an unauthorized firm and your money will fall in danger.
When you have disputes with a JSC-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact JSC in Jordan, which aims at solving the disputes between the forex broker and the investor.
You can submit an online complaint after completing your registration:
https://portal.jordan.gov.jo/wps/portal/Home/CMU/CMU#/complaintVerification?type=Complaints
3rd way: If the 2 ways above can't solve the dispute, the last way is to issue a case to the court in Jordan.
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