de | cn | ru

Brokers News

Exness and Leverate’s VinciCM set default leverage to 1:50 in line with CySEC’s requirements

Jan 30 2017
By
Jonathan Smith

In order to be in line with the new requirements introduced by the Cyprus Securities and Exchange Commission (‘the CySEC’), several Cypriot brokerages announced amendments to their trading conditions. As the deadline set by Cypriot watchdog has passed today, 30 January 2017, Exness,  and VinciCM informed their clients that they reduce the default leverage level to 1:50.

 

In its essence, these measures are in line with ESMA’s guidelines (published in October 2016) and aim to maintain an environment of trust and security in the forex and binary options industries by increasing client protection. Apart from the leverage restrictions, CySEC’s new set of rules include ban on trading bonuses and a requirement for same-day withdrawals.

 

Here is what each of the above-mentioned Cypriot brokerages announced:

 

Exness, famous for its unlimited leverage offering, said that it restricts the maximum available leverage to 1:200, and sets the default one to 1:50. Adhering to the regulatory standards, the brokerage announced that the new amendments to their client agreement will come into effect 5 business days after the date of publication of the announcement (issued on Janyary 26).

 

Those clients who do not agree with the new conditions may (within 5 days) send a request to Exness to close their accounts.

 

After the company has stopped selling its binary options platform BX8 in August, Leverate’s new start-up brokerage brand VinciCM, announced it changes leverage to 1:50 for all its retail clients, as of 31st of January 2017. The broker warns its clients that the reduction in leverage may result in liquidation of their positions.

 

VinciCM further explains that clients who wish to operate with leverage higher than the default maximum imposed by regulation (1:50), may file a request to their support team. After review of the client’s eligibility, a higher leverage level may be granted to the trader.

 

CySEC’s regulatory changes come on the background of an increased regulatory activity concerning risky instruments in Europe. Many EU regulators have expressed intentions to restrict high-risk trading in instruments. Belgium banned the distribution via online channels of over-the-counter (OTC) binary options, spot forex, and CFDs with leverage from 18 August. France and the Netherlands are in the process of developing laws that would prohibit the advertisement of risky financial instruments, and Germany is also considering similar steps

TAGS: CySEC  regulation  Exness  Leverate  VinciCM  forex brokers  leverage  EU 

More news about Exness

Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC 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 MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Brokers News

Trip For Pip: FBS To Launch A Quest Game For A Trip To London, Tokyo, Or Dubai

Oct 29 2019 14:09:54

FBS broker starts its new marketing campaign, and it has already attracted many eyeballs on social media. The promotion is called “Trip for Pip,” and it is very engaging for several reasons:    a) it’s playable;  b) it features a dream trip for two as the main prize. Read more

HYCM tops the list of brokers with highest percentage of winning clients

Oct 23 2019 12:12:59

The importance of choosing a reliable broker is paramount to trading. Most traders have given a serious thought to the security of their investments and these concerns are increasingly common in this highly competitive market. Read more

FXCM expands its crypto offering with CryptoMajor baskets

Oct 14 2019 14:49:01

  Major forex broker FXCM Group enhances its CFD offering with the launch of CryptoMajor- cryptocurrency baskets, which will allow its clients to trade in to multiple digital assets in one go. Read more

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand Trading.com

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Trading.com. Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

de | cn | ru