Cyprus brokers and the EU bank bailout haircut

gc1

Well-known member
I wonder how the Cyprus based forex brokers will handle the EU banking bailout (depositors being charged up to 10% of their deposits).

Or perhaps the brokers all use banks outside of Cyprus for holding most customer funds.
 
I wonder how the Cyprus based forex brokers will handle the EU banking bailout (depositors being charged up to 10% of their deposits).

Or perhaps the brokers all use banks outside of Cyprus for holding most customer funds.

i don't believe anyone with money on deposit in cyprus can now avoid this eu theft. from the news articles i'm reading it can't now be avoided, though i suspect some elites will, obveously.
 

pboyles

Legendary member
I wonder how the Cyprus based forex brokers will handle the EU banking bailout (depositors being charged up to 10% of their deposits).

Or perhaps the brokers all use banks outside of Cyprus for holding most customer funds.

That will be the next of it. Sorry we took 10% from your trading account for bailout tax. Every scumbag broker will be claiming your money was in Cyprus.
 
an added thought. the brokers may have known this was coming for a while and prepared. i noticed a deposit free bonus disappear a couple of weeks ago :(
 

pboyles

Legendary member
Does it apply to business accounts or only personal accounts? Why are there no riots in Cyprus right now?
 

Pat494

Legendary member
I think AAAFX is hq in Cyprus ?
Lucky I am on a demo account.
 

Splitlink

Legendary member
That will be the next of it. Sorry we took 10% from your trading account for bailout tax. Every scumbag broker will be claiming your money was in Cyprus.

Why would they put money into Cypress accounts? Avoiding tax, perhaps? Let's hope that the Channel Islands does not get into financial difficulty.
 

Splitlink

Legendary member
Does it apply to business accounts or only personal accounts? Why are there no riots in Cyprus right now?

Probably, because most Cypress citizens won't be taxed that much. It said "up to 10%" Remember where the Polly Peck CEO went to live? and what happened to the shareholders? Their funds went to Cyprus, too, but not to their bank accounts---to his.
 

jungles

Guest
and a gap up EURUSD Monday?

.......the market will interpret this little problem as solved for the time being

what do you think?
 

segutor

Junior member
and a gap up EURUSD Monday?

.......the market will interpret this little problem as solved for the time being

what do you think?

Gap up? What about a huge gap down from lost faith in EU banking system? Who is next? Spain, Italy, France?
 

Pat494

Legendary member
Thieving crooks
 

Splitlink

Legendary member
Fx pro is in Cyprus, plus just about every other MT4 forex broker you can think of.

:) Now I know what is worrying a lot of traders. If Brits could get their money out of there, they would not give a monkey's about the rest. That is why I am inclined to favour the tax.

Don't forget the new tax the councils are going to charge for extra bedrooms. Is there anyone who would like a homeless person in their council house? I understand that the tax could amount to 750 GBP per year, if they don't.

Regardless of the unpleasant things that are happening in Spain, we have not got to that stage, yet and we still get daily rubbish collection.
 
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FxPro Group

Junior member
Dear members,

Your funds are 100 % secure with FxPro.

Please be assured that the security of your funds is a top priority for FxPro and in order to ensure the highest level of security, the Firm is partnered with some of the world’s leading banks,Barclays and Credit Suisse.

Any available funds in your FxPro trading account remain unaffected as FxPro guarantees the full amount of our clients’ funds. This is possible because FxPro partners with banks located abroad and not in Cyprus.

You may withdraw at any given time as usual and your request will be processed as normal.


Regards,

FxPro Group.
 
Last edited by a moderator:

pboyles

Legendary member
Dear members,

Your funds are 100 % secure with FxPro.

Please be assured that the security of your funds is a top priority for FxPro and in order to ensure the highest level of security, the Firm is partnered with some of the world’s leading banks,Barclays and Credit Suisse.

Any available funds in your FxPro trading account remain unaffected as FxPro guarantees the full amount of our clients’ funds. This is possible because FxPro partners with banks located abroad and not in Cyprus.

You may withdraw at any given time as usual and your request will be processed as normal.


Regards,

FxPro Group.

That's rather an odd post, what would being partnered with the worlds leading banks have to do with it? If the money is in an account in Cyprus then it would seem that the tax applies. I note you did not state that was money was lodged outside Cyprus. In any case it's hard to believe that you'd locate and 'register' in Cyprus and bank elsewhere, just doesn't make sense. I'd say you are panicking and hoping to avoid a run on withdrawals.
 
Last edited by a moderator:

FxPro Group

Junior member
Dear PBoyles,

Please note that FxPro holds clients funds in two of the world’s leading banks, Barclays and Credit Suisse, which are A rated, and as a result FxPro can guarantee that clients funds are 100% secure.

That's rather an odd post, what would being partnered with the worlds leading banks have to do with it? If the money is in an account in Cyprus then it would seem that the tax applies. I note you did not state that was money was lodged outside Cyprus. In any case it's hard to believe that you'd locate and 'register' in Cyprus and bank elsewhere, just doesn't make sense. I'd say you are panicking and hoping to avoid a run on withdrawals.
 

pboyles

Legendary member
Which country are the bank accounts located in?

And Tar, stop deleting my posts and links, you've been at it all day.
 

tar

Legendary member
Which country are the bank accounts located in?

And Tar, stop deleting my posts and links, you've been at it all day.

No , the deleted link was from fxpro quote so it is not yours , and i just deleted 2 trolling posts from you at the morning nothing else ...
 
 
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