de | cn | ru

Market News

CySEC statistics: After some records have been achieved in 2016 and 2017, what’s next?

Dec 31 2018
By
Jonathan Smith

 

According to data published by the Cyprus Securities and Exchange Commission (CySEC), the number of licensed forex brokers in the country peaked in 2017, while the largest trading and net income was reached in 2016.

 

 

Looking at the statistics, the total number of Cypriot Investment Firms (CIFs) in 2017 amounted to 235, and their clients were about 1.5 million. Furthermore, Cypriot brokerage companies got about €1.68 billion of revenues last year, and their net income totaled to €222.7 million, which represents a YoY decrease by 32% and 77% respectively, when compared to 2016.

 

 

 

Regretfully, CySEC did not publish any key industry metrics for the year 2018, which is about to end. Given the new regulatory environment across Europe, however, it is more than certain that the forex and CFDs industry in Cyprus is contracting.

 

The main reason is that it is difficult for brokers to survive the new restrictive regulations, and especially for who haven’t managed to build a solid-enough book of clients. All the more so, considering that ESMA keeps renewing the restrictions, and that some regulators have already announced their plans to make these measures permanent on a national level.

 

The main strategy many of the CySEC-regulated brokers seem to choose these days is to establish offshore or Australian subsidiaries, as this would allow them to provide higher leverage. While there are no limits for EU citizens to open accounts with offshore brokers, licensed entities are not permitted to solicit their clients to move accounts outside of Europe.

 

So, 2016 was the year of the largest income derived by CIFs, and 2017 saw the largest number of regulated brokers in Cyprus. In light of the said above, we suppose that in 2018 most of the metrics covered by CySEC will be on the decline.

 

TAGS: CySEC  statistics  Cyprus  regulation  forex brokers 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

New Zealand’s FMA blacklists Profitix and Dang Kang

Aug 21 2019 12:33:57

    Unregulated Forex brokerages Profitix and Dang Kang International Group have been blacklisted by the New Zealand’s Financial Markets Authority (FMA) on Wednesday   The official warning against the first entity – Profitix - reads that individuals from the bro... Read more

Malta restricts CFD sale to retail clients permanently

Aug 20 2019 16:28:19

The Malta Financial Services Authority (MFSA) adopted permanent rules restricting the marketing, distribution or sale of CFDs to retail clients. Read more

$3,5 bln Bitcoin Ponzi scheme Plus Token pressures the markets

Aug 15 2019 17:42:11

The fraudsters behind the China based Ponzi scheme Plus Token are dumping bitcoins worth over 3.5 billion USD on exchanges around the globe, and that is creating a selling pressure on the markets, venture capitalist Dovey Wan warns. Read more

Spain’s CNMV blacklists EurTrades, Trade100, and Key Markets

Aug 14 2019 13:54:57

  The Comision Nacional del Mercado de Valores (CNMV) updated its warning list on Wednesday with several offshore brokers - EurTrades, Trade100, and Key Markets. These entities are not authorized to provide investment services or investment advice in Spain, the CNMV said. Read more

Former binary options broker iTrader to be indicted in Israel

Aug 13 2019 14:07:37

  Israel’s state prosecutor announced that it intends to indict the company behind former binary options broker iTrader, its owner and senior officials, on charges of aggravated fraud and providing investment advice without a license. The company Gal Media Trade Ltd. Read more

CySEC warns of fake recovery agents claiming to be its employees

Aug 12 2019 20:32:52

  The Cyprus Securities and Exchange Commission warned against fraudsters impersonating its officers who are running a recovery room scam. Read more

Aussie crypto scam worth A$2.7 million busted, five arrested

Aug 08 2019 15:46:37

  A criminal group in Gold Coast, Australia were arrested for allegedly scamming over 100 Australians with A$2.7 million in cryptocurrency investment. Read more

EtherDelta investigated for exit scam

Aug 07 2019 12:01:50

  Chinese police are reportedly taking legal action against cryptocurrency exchange EtherDelta in connection with an alleged exit scam.    The news was actually reported in a series of tweets by the ex-owner and founding partner of the exchange Dovey Wan. Read more

BaFin warns against 4xincome, orders it to cease operations

Aug 06 2019 15:44:28

  The German Federal Financial Supervisory Authority (BaFin) blacklisted unregulated forex broker 4xincome and ordered it to cease operation in the country. The regulator said that this broker offers German clients trading in forex and various CFDs thorough its website 4xincome. Read more

Thailand’s AML laws will also apply to crypto exchanges

Aug 05 2019 16:57:59

  The Secretary-General of the Thai Anti-Money Laundering Office (AMLO) stated that the existing anti-money laundering (AML) rules in Thailand will be amended as to also cover cryptocurrencies and prevent their use for illicit activities, as reported by local news media BangkokPost. Read more

de | cn | ru