Forex

Market News

FXFBI, IFC Investments and Jin Daocheng obtain CySEC forex licenses

The Cypriot financial regulator, CySEC, has granted three more forex broker licenses this week – to IFC Investments Cyprus and Jin Daocheng, and FXBFI Broker Financial Invest Ltd. According to the publication on the Commission’s website, the decisions were taken on September 20 and 21, however the licenses are not yet in effect.


We could not find detailed information on neither of the new licensees, except that Jin Daocheng is based in Hong Kong and that IFC Investments Cyprus Ltd was founded in 2015. Nonetheless, all three companies are now allowed to provide investment services such as reception and transmission of orders (in relation to one or more financial instruments), execution of orders on behalf of clients and investment advice, as well as safekeeping and administration of financial instruments. Besides, CySEC permits the newly licensed brokers to provide foreign exchange services where these are connected to the delivery of investment services.


Of course, getting a CySEC license means that the holder is authorized to provide its financial services in all 28 EU member states under the MiFID regulations.


Lately CySEC keeps publishing decisions on new licenses granted. In mid-September Australian forex broker Royal Financial Trading got licensed in Cyprus. Wonderinterest Trading, Fenix Capital Markets Trading became EU regulated in Cyprus on September 6, and earlier in January, CySEC granted license to forex & CFDs broker Trading 212, which is also regulated in the UK and Bulgaria.


It seems that Cyprus has become an extremely attractive forex broker destination. With UK preparing to leave the EU after the crucial referendum that took place in June, it is likely that Cyprus will become the most popular forex hub in Europe.
 

TAGS: fxbfi  ifc investments  jin daocheng  cysec  forex license  license 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
UK, Australia FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Cyprus CySEC MT4, MT5,
cTrader
$300 Review Website
Belize IFSC MT4, MT5 $100 Review Website
UK, Cyprus, Bulgaria FCA, CySec, FSC Web $150 Review Website
Seychelles FinaCom MT4 $10 Review Website
Belize IFSC MT4, Web $500 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website

More Forex Market News

Australia's ASIC cancels the forex broker license of GallopFX

May 29 2017 11:26:05

The Australian Securities Investment Commission (ASIC) announced on Monday it has cancelled the Australian financial service (AFS) license of retail forex broker GallopFX, as of May 24th. Read more

CySEC considers banning binary options altogether

May 25 2017 14:30:53

The Cyprus Securities and Exchange Commission (CySEC) considers banning binary options trading altogether, reported Finance Magnets. The online media cited CySEC Head, Demetra Kalogerou, who delivers a speech at the iFX Expo International 2017 on Thursday. Read more

Online investment scams in Australia mark a 130% increase YoY

May 15 2017 13:26:28

The report of the Australian Competition and Consumer Commission (ACCC) for 2016 revealed that Investment scheme scams caused the greatest losses to Australians, after romance and dating frauds. Read more

Forex

AFCA: The new EDR for all Australian forex brokers

May 12 2017 13:53:17

The federal executive government of Australia announced it will introduce a comprehensive package of measures to strengthen the accountability and competition in the country’s financial system. Read more

FCA updates its warning list with ExxonFX

May 10 2017 09:48:44

 The UK Financial Conduct Authority (FCA) warned forex broker ExxonFX has been providing financial services in the country without being authorized. The broker is owned and operated by Revolution Markets LP and claims to be based in the UK. Read more

Germany requires forex brokers to introduce negative balance protection, IG Group & CMC Markets react

May 09 2017 12:14:49

The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, a.k.a. BaFin) announced on Monday it introduces certain restrictions to CFD trading in order to safeguard the interests of retail clients. Read more

FBI: Losses from binary options fraud run into the millions

Mar 14 2017 13:02:11

 It seems that the regulators and law enforcement agencies across the world are finally becoming aware of the risks of trading in binary options. Read more

Singapore's regulator warns of dangers of unregulated binary options brokers

Mar 14 2017 11:56:36

Singapore's financial services regulator, the Monetary Authority of Singapore (MAS) has published an advisory warning the investors of the dangers of trading with unregulated binary options brokers and platforms. Read more

Ireland proposes restrictive measures for forex and CFD trading

Mar 06 2017 10:44:05

After the Financial Conduct Authority capped leverage to 1;50 and banned trading bonuses in the UK, it is hardly a surprise that the Irish financial watchdog follows suit. Read more

FCA survey: Over 55s have lost £32 000 on average to investment scam

Mar 02 2017 14:46:49

UK's senior citizens, or the people above 55 years of age, to be more precise, have lost an average of £32,000 in 2016 to various financial investment scams, shows a survey of UK's Financial Conduct Authority, published as part of its Scam Smart campaign. Read more

Forex