How about the foreign exchange regulation in Cyprus? Is it regular?
Speaking of the formal regulatory agencies in the foreign exchange market, you may think of FCA in the UK and NFA in the United States. However, there are many platforms that are regulated by the regulatory authorities in Cyprus. Today, let's take a look at the regulation of Cyprus.
Cysec is the financial regulatory agency of the Republic of Cyprus. Its website is as follows: http://www.cysec.gov.cy/default_ en.aspx 。
The fees and costs set by cysec are very competitive prices. It is much cheaper to obtain regulatory permission from Cyprus than to allow access to other regulators in Europe, such as the Financial Services Authority / financial conduct authority. The cost of obtaining a licence in the UK is often five times that of Cyprus, and the end result is the same. Thanks to the EU pass, you can get a registration number of the FSA through the cysec licence. It has great value.
Since Cyprus joined the European Union in 2004, the Cyprus Securities Regulatory Commission (cysec) has become an important part of EU financial instrument market regulations. As long as one company is registered in Cyprus, it can enter all European markets. In this way, more and more overseas companies choose to register in Cyprus. One of the most obvious is that more and more brokers in the overseas retail foreign exchange industry choose to obtain the regulatory qualification of the Cyprus Securities Regulatory Commission. According to Part 5 of the establishment and responsibility act of 2001, Cyprus has established the Cyprus securities and Exchange Commission (cysec), which is a public legal entity.
The Cyprus securities and Exchange Commission (cysec) has the following four responsibilities:
1. To supervise stock trading on the stock exchange of Cyprus, and to supervise listed companies, brokers and brokers.
2. Supervise investment service companies, collective investment plans, investment consulting companies and mutual fund management companies that have obtained the regulatory qualification of the securities and Exchange Commission of Cyprus (cysec).
3. Issue business license to investment companies (including investment consulting companies, brokerage companies and brokers).
4. To impose administrative sanctions and disciplinary sanctions on brokers, brokerage companies, investment consulting companies and other legal persons or natural persons who violate the laws and regulations of the securities market of Cyprus.
Although Cyprus regulation is not as well-known as foreign exchange regulation in Europe and the United States and other countries, in the foreign exchange market, the foreign exchange regulation of Cyprus is relatively formal. There are also a number of famous brokers in the Cyprus regulatory platform, such as XM, exness, fxpro, which have also obtained the full license of FCA in the UK.
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