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AvaTrade's Forex Operations Now Fully Licensed in the BVI

Jul 30 2013
By
Forexbrokerz.com

British Virgin Islands is a great place for a vacation: white-sand beaches, clear turquoise sea, palm trees... It's also a great place for setting up forex operations, though – not only because of the opportunity to lie on the beach every day after work but also because of the favorable business climate. 

 
Concurring with this the global forex and CFD broker AvaTrade has just announced the receipt of a regulatory approval from the British Virgin Islands Financial Services Commission (BVI FSC). 
 
The strong infrastructure, Engilsh being widely spread, and the legal system based on the British one, among other factors, attract a number of offshore companies. Add to that the fact that financial services are regulated by the BVI Financial Services Commission, and you can see why it's a suitable spot for running a forex brokerage. 
 
Many brokers like 4xp and Gallant Capital Markets have figured this out and have chosen BVI as their headquarters location. Others like FIBO Group and Admiral Markets keep their main bases in other countries, yet they maintain BVI FSC licenses for an extra level of customer protection. 
 
And now, we can also add AvaTrade to the that latter group. Headquartered in Dublin, Ireland, where its operations are overseen by the Central Bank of Ireland, the company recently gathered all of its brands under the name AvaTrade. Then, about a month ago, it also announced it had also obtained a license from the Cyprus Securities and Exchange Commission (CySEC). Put in simple words, this means that the company is now regulated in the European Union (Ireland and Cyprus), Japan, Australia, and BVI.
 
Before getting this last BVI license, Ava was authorized by the BVI FSC but only for its British Virgin Islands operations; the new licensing now applies to the entire group of subsidiaries. The BVI FSC is not exactly generous giving away licenses – the process requires significant resources and takes a long time to get completed. This is why it's not surprising that the in an official statement for the press, the brokerage expressed its satisfaction of this new, additional layer of protection it can offer to its traders. 
 
“This [the BVI license] serves as a vindication of the high standards that we strive to maintain and as a guarantee to our clients that they can continue to expect those standards to be met in the future,” said AvaTrade's CEO Emanuel Kronitz. “We believe strongly that all traders deserve the protection and peace of mind afforded by fully regulated and licensed brokers.”
 
 

About AvaTrade

 
Ava Capital Markets Ltd is an Ireland-based broker, founded in 2006. Through its subsidiaries, it is regulated in the European Union, Australia, Japan, and the British Virgin Islands. Ava's proprietary trading platform, the Ava Trader leverages the power of the world’s leading banks and financial institutions, while providing consumers with an easy-to-use yet functionally rich trading environment.
 
AvaTrade has received numerous awards for maintaining the highest standards in customer service, trade executions, pricing transparency, and advanced trading tools. AvaTrade has offices in many of the major financial centers in the world including New York, Tokyo, Dublin, Paris, Frankfurt, Milan and Sydney.
TAGS: AvaTrade  AvaFX  forex broker  forex trading  forex regulation  forex license  British Virgin Islands  BVI  BVI FSC 

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