IC Markets has obtained a license from the CySEC. The company has already opened an office in Cyprus and is working on setting up a new service. The license was officially granted to the Australian brokerage company in July.
The move comes at an interesting time, as IC Markets is expanding with an EU license just around the time when new leverage rules are squeezing the retail market. At a time of consolidation in the industry, the company is choosing to commit to a contrarian move.
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IC Markets is an ASIC-regulated brokerage and has been operating via its license globally for some time. Finance Magnates has reached out for comment to the company, but at the time of publication, it hasn’t received an official response.