If You Build it they Will Come – CySec Releases H1 2013 License List

Cypriot financial regulator, CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term, has released its list of firms that were granted licenses during the first half of 2013. Bucking worries of the country’s financial difficulties during the period, Cyprus continues to see strong demand from companies looking to set up brokerage businesses on the island. As a result, during the first half of the year, 17 firms were granted financial licenses. The list compares to a typical announcement of in the single digits.

The list contains both some familiar and new names to the industry:

1. Skopalino Finance Ltd

2. Vistabrokers CIF Ltd

3. Roboforex (Cy) Ltd (FORMER: A.I. Gurufx Ltd)

4. Magline Investments Ltd

5. PFX Financial Professionals Ltd

6. Monex Capital Markets Cy Limited

7. Master Capital Group (CY) Ltd

8. Profitside Investments Ltd

9. PMT Matrix Capital Ltd

10. Hoch Capital Ltd

11. Keplero Holdings Limited

12. Prodigit Investments Ltd

13. Admiralex Limited

14. MPF Global Markets Ltd

15. WGM Services Ltd

16. AVFX Trading Ltd

17 FXGlobe Limited

Among the names, four of them were announced by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates last month. They are Prodigit Investments, Admiralex (affiliated with Estonian Admiral Markets), AVFX (affiliated with AVAFX and FXGlobe (formerly only had New Zealand regulation).

Among other names:

Master Capital Group appears to be a Cyprus subsidiary of the Beirut based broker with the same name that operates the FXCM MENA business. Skopalino Finance Ltd is a new forex broker that appears close to be launching and will offer both the MT4 and CQG platforms. Roboforex (Cy) Ltd (FORMER: A.I. Gurufx Ltd) is a New Zealand regulated forex broker that is adding a CySec license. Magline Investments Ltd is the operator of the Trading247 binary options brokerage, a growing broker that is reportedly among the top 20 largest binary brokers. Monex Capital Markets Cy Limited, is affiliated with Monex Capital Markets, a UK licensed broker targeting the UK and Asian market. Keplero Holdings Limited operates the Banc de Swiss binary options brokerage business. MPF Global Markets Ltd is a soon to be launched MT4 broker. WGM Services Ltd (Win Global Markets) is the operator of the binary options brands EZTrader and GlobalOption.

If you build it they will come

During the iFXEXPO in Cyprus, one of the noticeable happenings was a proliferation of startups that were being established in the country despite the current financial difficulties there. When speaking to Nicolas Treppides, Owner of, K.Treppides & Co Ltd, who provides accounting and consulting services to foreign firms desiring to operate in Cyprus, including brokers, at the iFXEXPO about the phenomenon, he explained that Cyprus offers a low tax rate, accommodating government, a flexible regulator, and a gateway to the European market. As a result, companies are still seeing value in entering the country. Specifically, Treppides, as well as representatives from KPMG mentioned interest among binary brokers as leading demand for new licenses. As a However, companies were mentioned to be taking things slower and taking more financial precautions, such as diversifying their cash holdings. Overall, the large list of broker getting licensed looks more like the trend than a one time anomaly.