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Mayzus Gets New Zealand Forex License, Launches Web Platform

Cyprus-based Forex broker Mayzus has been touting the opening of a new subsidiary outside of the European Union since the summer of 2013 and we have been impatient to understand the location of the new business. As we've found out just today, this location is New Zealand and the broker has managed to obtain a registration as a Financial Services Provider (FSP) with the country's regulators.

 

The New Zealand Registration

 

The first steps towards setting up the new business were made in September 2013, when Mayzus Investment Company secured a registration as a New Zealand Limited Company (number 4657805). Technically, fellow traders, this is the date of the incorporation of the new business. A month later – on October 24, 2013, Mayzus had one more reason to celebrate as it got an FSP license (FSP317386) – the new business is now authorized to offer foreign exchange services. Of course, this is not the end of the licensing road of the New Zealand business of Mayzus. The company has yet to submit a raft of documents, to introduce a website – my guess is that this will be mayzus.co.nz, etc. But the first and important steps have been made and this is what counts.

 

New Zealand has been welcoming Cypriot Forex brokers after the controversial circular issued by the Cyprus Securities and Exchange Commission (CySEC) on July 26, 2013. In brief, CySEC demanded from all Cyprus Investment Firms (CIFs) to have authorization for the provision of their services from respective regulators in third countries, i.e. non-European Union countries, with some very rough deadlines attached. It was these rules that pushed Mayzus and other Cyprus-based Forex brokers, like XM, to open subsidiaries elsewhere, with New Zealand being the preferred destination. 

 

And although the controversial rules issued by CySEC in the summer of 2013 were abandoned by the regulator itself, just a couple of days ago the Forex companies on the island had one more reason to think about any rationale to remain in Cyprus. As you may recall, the watchdog declared as unlawful all bonuses related to trading activity. It turns out that XM and Mayzus have acted more wisely than initially thought.

 

The Web Platform

 

While Mayzus's business in New Zealand is getting ready, the broker is seeking to beef up the service lineup for its clients. On Friday it announced the launch of a web-based platform: a browser-based version of the Metatrader 4. The product is still in its beta mode and is supported in English and Russian. You can log into the new platform with your MT4 account credentials: the company offers live and demo trading on the WebTrader.

 

My personal attempt to open a demo account, however, turned into a complete mess due to the captcha. After two days of ridiculous efforts to read the captcha, the broker's website simply refused to accept my entries. The system simply claims that I'm a robot – after 23 attempts to register, I dare to agree with Mayzus – I am indeed a robot.

 

About MAYZUS

 

MAYZUS Investment Company is a Forex broker registered and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers a wide range of trading platforms, including ECN and STP ones, fixed and variable spreads starting from 2 pips and leverage of up to 1:500.

 MAYZUS Investment Company's clients enjoy an excellent customer support team, various bonuses and promotions, and a rebate program.

 The company's technological infrastructure is designed to support an around-the-clock trading environment with almost 100% uptime. Systems are rigorously tested and connected through multiple Tier 1 Internet Service Providers, ensuring uninterrupted connectivity for clients worldwide.

 

TAGS: mayzus  mayzus forex broker  mayzus cyprus  mayzus new zealand  new zealand forex broker  forex market  fsp  forex license  financial services provider  web platform  mt4  forex trading  forex platform  web platform 

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