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FIBO Group Beefs up License from British Virgin Islands' FSC

FIBO Group, the international Forex broker, yesterday announced the acquisition of a beefed-up license from the British Virgin Islands Financial Services Commission (FSC). Thanks to the new regulatory permission, the company is regulated as a Category 2 business – which means that it can arrange deals in investments. Before the upgrade of the license, FIBO had a license as a Category 1 business, a category which comprises a wider range of companies that deal with investments. 
 
Have in mind that there are not that many investment companies that have Category 2 licenses in the BVI – they are only 23 such businesses. The FSC is not exactly generous when it comes to giving away such regulatory documents – all companies pass rigid checks. In fact, this watchdog is quite strict when in comes to regulation. You perhaps recall that it was the BVI financial regulator that was the first to raises concerns about the regulatory status of 4xP, the Forex broker that still has its clients waiting for their investments to return to them. 
 
The upgraded license from the BVI adds to FIBO Group's licenses from the Cyprus Securities and Exchange Commission (CySEC), as well as the Australian Securities and Investments Commission (ASIC). Meanwhile, the broker has been expanding its global foothold with new offices in Santiago (Chile), and Singapore, launched over the past month. 
 
The British Virgin Islands are an attractive destination for Forex brokers, thanks to the mild business climate, the excellent infrastructure, the widespread use of English language and the jurisprudence based on the British one. Amid the brokers to get licenses in the BVI over the past year is also AvaTrade, the Irish brokerage. 
 

About FIBO Group

 
The International Financial Holding FIBO Group comprises a group of companies whose main business area is margin trading in financial instruments. Clients can benefit from a number of investment products, including Spot Forex, Futures/Options, CFDs and Spot Gold. The brokerage is headquartered in Limassol, Cyprus, and is therefore regulated by CySec – the Cyprus Securities and Exchange Commission. FIBO also has offices in Australia, Chile and Germany.
TAGS: fibo group  fibo forex broker  fibo group bvi  british virgin islands  bvi fsc  financial services commission  forex license  offshore company  forex market  forex regulation  category 2 license 

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