Veteran brokerage FBS is the latest company to have acquired an EU operating license. The firm has successfully completed its application with the Cyprus Securities and Exchange Commission (CySEC) and is preparing to start operations in the EU market.
The brokerage has been operating for a number of years and at present is offering its service under a Belize-regulated subsidiary. The company has been actively marketing all over the globe with numerous clients in Asia, with increased focus on the Far East.
The CySEC-regulated subsidiary of the company will be operating the fbs.eu domain. The name of the regulated subsidiary which the broker established for the start of its operations is Tradestone Limited. The firm has chosen Limassol as its headquarters in Cyprus.
FXPRIMUS Expands with New Office and License in South AfricaGo to article >>
The Belize subsidiary of the company is one of the most aggressive market players when it comes to the offering of leverage to its clients. The firm’s fbs.com operation offers up to 1:3000 leverage. The company is relying on the MT4 and MT5 trading platforms to execute its operations.
The company has been operating under unregulated and offshore jurisdictions since its establishment almost a decade ago.
The development is a new chapter for the company that has been known for relying heavily on bonuses and aggressive marketing campaigns. FBS will not be able to offer the same services under its CySEC-regulated subsidiary as the regulator last year banned aggressive marketing campaigns, including bonuses and promotions.
Looking at the website of the Belize company, the global subsidiary of FBS is currently providing a 100% deposit bonus, a welcome bonus of $123, cashback and several volume-based rewards.
Finance Magnates has reached out to the company for more information on its plans in the region and will update the article when an official response is received.