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Cyprus Regulated Brokers Warning - ironFX

Frank
RedRhinoFX
Mar 07 2016 at 08:11
395 posts
moving forward in comparison to how the bitcoin brokerages are operating with audits, we can rest assure that transparency in brokerages are just around the corner for those companies that pride themselves with honesty transparency, and integrity.

Jurisdiction and location may become irrelevant in the future with the use of the blockchain



https://www.coindesk.com/what-happens-inside-bitcoin-audit/

AziH
Mar 10 2016 at 07:21
14 posts
Thanks for movie and your thoughts, nice to know it

WilsonWang (WilsonWang)
Mar 15 2016 at 07:23
11 posts
As my knowledge, Cysec has too many loopholes! Brokers with only Cysec as their regulator needs to watch out, do not trade with them!!!
Most of the reliable brokers (excluding USA) either have ASIC/FSP.
But as we know, all brokers have bad record regarding to fund withdrawal, but most of the time is because traders violated against the account type they open.

AziH
Mar 18 2016 at 22:21
14 posts
WilsonWang posted:
As my knowledge, Cysec has too many loopholes! Brokers with only Cysec as their regulator needs to watch out, do not trade with them!!!
Most of the reliable brokers (excluding USA) either have ASIC/FSP.
But as we know, all brokers have bad record regarding to fund withdrawal, but most of the time is because traders violated against the account type they open.


Rather serious thing... Can I know from which sources you know it? Thank you inadvance and would be nice to learn it

patrickx (patrickx)
Mar 20 2016 at 07:16
86 posts
No matter how CySEC changed, I still personally prefere FCA or ASIC...

My offers: FXCM $4.99/RT, Pepperstone Razor AUD$6/RT, VantageFX $4.30/RT, ICMarkets AUD$5.50/RT - no mark-up spread or slippage!
WilsonWang (WilsonWang)
Mar 21 2016 at 07:17
11 posts
AziH posted:
WilsonWang posted:
As my knowledge, Cysec has too many loopholes! Brokers with only Cysec as their regulator needs to watch out, do not trade with them!!!
Most of the reliable brokers (excluding USA) either have ASIC/FSP.
But as we know, all brokers have bad record regarding to fund withdrawal, but most of the time is because traders violated against the account type they open.


Rather serious thing... Can I know from which sources you know it? Thank you inadvance and would be nice to learn it


Good day AziH
I'm working as a broker, so we have information regarding to which regulator is #1, #2, #3 and which is preferable in certain countries. Now personally speaking ASIC is in fact better than FCA, there was a time when FCA was better.
But soon FCA was taking money for license exchange, so if a broker is well funded, they can buy FCA license with money, not by meeting its requirements.
I misspoke about FSP, FSP is New Zealand regulator, only common in New Zealand & Australia.
I'm not able to advertise which broker I work at, sorry.

Thank you for

mlawson71
Mar 22 2016 at 09:57
1487 posts
I don't think that CySEC necessarily deliberately tolerates scammers and shady brokers, at least not today. They suspended the license of Pegase Capitals only two weeks ago (https://smnweekly.com/2016/03/07/cyprus-cysec-suspends-forex-broker-pegase-capitals-cif-licence/), so it's possible they've learned their lesson. That said, with their track record, even if they've learned their lesson, it's probably better to put your trust in a regulator like the FCA, at least until they - CySEC - consistently show that they don't doperate that sort of thing.

patrickx (patrickx)
Mar 22 2016 at 14:31
86 posts
mlawson71 posted:
I don't think that CySEC necessarily deliberately tolerates scammers and shady brokers, at least not today. They suspended the license of Pegase Capitals only two weeks ago (https://smnweekly.com/2016/03/07/cyprus-cysec-suspends-forex-broker-pegase-capitals-cif-licence/), so it's possible they've learned their lesson. That said, with their track record, even if they've learned their lesson, it's probably better to put your trust in a regulator like the FCA, at least until they - CySEC - consistently show that they don't doperate that sort of thing.


Yes, I agree, good sign. But still, it will take CySec some time to return back the reputation among traders I'm afraid.

My offers: FXCM $4.99/RT, Pepperstone Razor AUD$6/RT, VantageFX $4.30/RT, ICMarkets AUD$5.50/RT - no mark-up spread or slippage!
AziH
Mar 23 2016 at 08:06
14 posts
WilsonWang posted:
AziH posted:
WilsonWang posted:
As my knowledge, Cysec has too many loopholes! Brokers with only Cysec as their regulator needs to watch out, do not trade with them!!!
Most of the reliable brokers (excluding USA) either have ASIC/FSP.
But as we know, all brokers have bad record regarding to fund withdrawal, but most of the time is because traders violated against the account type they open.


Rather serious thing... Can I know from which sources you know it? Thank you inadvance and would be nice to learn it


Good day AziH
I'm working as a broker, so we have information regarding to which regulator is #1, #2, #3 and which is preferable in certain countries. Now personally speaking ASIC is in fact better than FCA, there was a time when FCA was better.
But soon FCA was taking money for license exchange, so if a broker is well funded, they can buy FCA license with money, not by meeting its requirements.
I misspoke about FSP, FSP is New Zealand regulator, only common in New Zealand & Australia.
I'm not able to advertise which broker I work at, sorry.

Thank you for


I see, thanks a lot for your information. I understand you can't say about your broker, I just wanted make sure that you took that info from a credible info source. Thanks again

Basilalkhatib (Basilalkhatib)
Mar 24 2016 at 06:59
1 posts
regulation has come to be very important issue in today Fx Markets

Make Small Investment for your Future
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