Exclusive: Myfxbook Becomes Regulated Platform with New CySEC License

Forex Magnates learned that Myfxbook has received a financial license from the Cyprus Securities and Exchange Commission (CySEC). As a forex portal providing Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term tools and trade reporting for traders, Myfxbook has evolved in becoming an active social network of traders. The firm expanded its offering last year to also include copy trading.

The license obtained by Myfxbook from the Cypriot regulator includes "portfolio management" and "reception and transmission of orders," which are required for the company to provide its social trading services.

The new licensing, which covers a new entity called Myfxbook Europe Ltd, follows a trend of platform providers to operate regulated entities themselves. Earlier this year, social Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Tradeo, and mobile trading app provider, Trade Interceptor, both launched brokerage versions of their offering through partnerships with regulated brokers. Similarly, after merging with Mirus Futures, Ninjatrader announced the launch of Ninja Brokerage.

Myfxbook was assisted in its regulation process by Tal Ron, Drihem & co, and MAP S. Platis, the licensing thereof was the 13th Cypriot license issued in collaboration between the lawyer and consulting firm. Learning more about Myfxbook’s future plans, Forex Magnates will be following up with additional details on Myfxbook next week.

Myfxbook CySEC License