Amid economic controversy Cyprus forex industry is choosing new course, IFXEXPO sets the stage
In what turned out to be a very challenging quarter for the Cyprus economy banks and other financial institutions have
In what turned out to be a very challenging quarter for the Cyprus economy banks and other financial institutions have suffered greatly due to the economic crisis. One of Cyprus’ most profitable industries is financial services namely banking and forex/binary brokerages. While banks suffered from the bailout brokers are less affected directly but are facing challenging times as many decisions need to be made: Are they staying in Cyprus? Are they only moving corporate and client accounts outside the island while keeping the convenient registration? Will current economic hardships provide opportunities for aggressive and established players?
The Cyprus IFXEXPO held in 29-30 May will surely provide a stage for these fascinating discussions as the situation develops. One of the panels is of Cyprus brokers discussing the positioning of local brokers in the global landscape. Given the current turmoil this panel may very well become the most interesting one of them all. There’s no doubt the local industry is going to change – the question is how and who will emerge as the leader in the coming years.
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60 days before the conference opens here are some stats:
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400+ attendees already registered (200% more than same period last year)
Only 3 sponsorships remain available, no standalone booths left
Sponsors and exhibitors include: SpotOption, MarketPulse, TradeNext, Tal Ron Law Firm, Tradologic, SafeCharge, Leverate, Investing.com, IG Markets, Tech Financials, MetaQuotes, PFSoft, Fair Trading Technology, Integral, TradeSmarter, XFSOL, Banc de Binary, NetDania, Angelos Paphitis, Platis, 360 Consulting, Nanorep, ZuluTrade, Gold-i, LMAX, K.Treppides, Saxo Bank, Optimove, Omega-Telecom, Tradency, Dukascopy Bank, Algo Charge, Media-Forex, Boston Technologies, O-Systems, Sucden Financial, CorrSight, Quotix, KPMG, Webzilla, Skrill, FXTM, FXCareers+GRS, Forex Magnates, Spotware, Trading Central, Devexperts, cPattern, IFS Company, FXStreet, Karinza, ChartIQ, eMerchantPay, Citi, FXTM and Omega-Telcom.
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For everyone that is going, remember you are only allowed to carry 1000 Euros out of the country. Lest you have a permit from the central bank. So better leave that expensive watch at home..
haha nice one!
– Are the ATM limits still $100 EUR or something similar?
– And what was the final verdict? Is ForexMagnates going to do a follow up article on Cyprus bailout, or wait a bit for the dust to settle?
– Please bring up bitcoins at the conference. Are any brokers planning on accepting them? Trading BIT/USD or USD/BIT on any platform? Any bank plan on streaming these quotes?
If no one took it seriously, I bet they might now. http://www.howtovanish.com/2013/03/how-to-make-a-business-vanish-keeping-funds-in-banks-or-bitcoin/
Not just for conspiracy theorists anymore, lol.
– 300 EUR
– final verdict will become clear few years from now in retrospective. in the meanwhile they limit moving money around. exact limitations found here http://www.agpaphitis.com/assets/mainmenu/298/docs/agp_Restrictive_Measures_law.pdf
– we may, do you really think it’s an alternative to anything? banks are last adopters, always, so no streaming for years
Im kind of hoping the controls are still in place… i will be forced to take a vast sum of petty cash with me and will have to make sure i blow it all in the bar on the last night because I wont be allowed to take it back with me.
i’ll make sure to help you
oh wait, all parties is free drinks.. 😉
FREE DRINKS THIS YEAR!!! Now that’s a good PR Michael G
it’s like that at all our conferences..
I guess it is a good solution to take 10-15 different credit cards just in case limits will be still on.
@Michael Grenberg. Bitcoin will be much more important, in a similar way that libertyreserve, webmoney, etc became important. Bitcoin is unique in that there is no centralized authority. Credit will always be around, but moving cash (equivilant) around quickly, safely, and in a usable form seems to be a large concern, especially among those involved in international commerce. Some major questions include: 1) has any broker taken a look at bitcoin concept? 2) have they considered making a market for it via mt4 or other platform as a tradable product? 3) are they using it to accept payments or make… Read more »
Well last year everyone was invited to Dolce Club for a party sponsored by Alpari and were given tickets to enter. Everyone was surprised that they had to pay for every drink not even first drink free!!!!
My question, Dolce Club is always free to enter (no entrance fee) why did Alpari invite everyone and gave them tickets, and then make them pay for the drinks, and say they are sponsoring the party?? I did not get it and cannot get it until now
just checked now, the old folks from alparifs now fxtm are sponsoring the evening party, so again it is gonna be the same thing, cheap advertisment, and you have to pay for it 🙂
i too just checked: you are wrong. first two drinks were free for everyone – if for some reason you didn’t get them, that’s another thing.. same concept is expected this year, if you still can’t get a free drink please find me and i’ll make sure you get one (Michael D is paying!)
Michael, James is right! I was there as well at that club, and they took the entrance ticket at the entrance, so there is no way you can claim 2 free drinks? How will the bartender know it was your first or second or third! They charged me a ridiculous 10 euros for each drink. It was really a cheap promo for alpari
hmm, let me double check with cyprus ifxexpo organizers
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