Patricia12
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Why most of the brokers are regulated by the Cyprus Security and Exchange Commission?
Cyprus Security and Exchange Commission
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intradaybill
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Stay away.
Patricia12
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I expect that some senior members will share actual reason behind it.
Silent Trader
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Cyprus was once a tax haven. Until they joined the EU they operated under less than stringent regulatory and oversight requirements. *Increasing Risk*
Cyprus joined the EU in 2004 and have access to much larger markets leading to a tightening of regulations to align with the rest of the EU - though it is still easier to set up a brokerage there than other, nearby EU states.
CySEC is subject to a European law known as the Markets in Financial Instruments Directive (MiFID) created to unify the members. MiFID text is found here: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2004:145:0001:0044:EN:PDF
Lack of oversight and stringent requirements on overseas brokerage houses *increases risk*.
ST
Cyprus joined the EU in 2004 and have access to much larger markets leading to a tightening of regulations to align with the rest of the EU - though it is still easier to set up a brokerage there than other, nearby EU states.
CySEC is subject to a European law known as the Markets in Financial Instruments Directive (MiFID) created to unify the members. MiFID text is found here: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2004:145:0001:0044:EN:PDF
Lack of oversight and stringent requirements on overseas brokerage houses *increases risk*.
ST
