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Is Cysec regulation/authority reliable in terms of financial distress?
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adrianmatusiaks

Member Since Jun 11, 2020  3 posts Adrian Matusiak (adrianmatusiaks) Oct 03 at 05:14 (edited Oct 03 at 05:17 )
I often see the traders recommending Cysec regulated firms and brokers. Does that actually help in case of insolvency with brokers.

keatonrichard

Member Since Jun 03, 2020  11 posts Keaton Richards (keatonrichard) Oct 03 at 05:31
Best thing about regulations - the safety net! Feel relieved that I have somewhere to approach if need be. I never ever take a chance with my investments, going to any hillbilly broker. Stick to CySec regulated brokers as I know they can be approached if you feel wronged. However it’s best to contact the broker first - protocol!

jeannettebishop

Member Since Jun 09, 2020  14 posts Jeannette Bishop (jeannettebishop) Oct 03 at 06:13
I second your opinion, there’s a degree of control with the trader. But I guess the topic itself is overstated. Haven’t faced any issues since last 2 years with my brokers (IG, XTB) who are regulated by Cysec.

Gracewilson1995

Member Since Jan 11, 2019  73 posts Gracewilson1995 Oct 03 at 07:58
Yes, Cysec reagulated brokers are more reliable if we look at the side of fund security

russellgutierrez

Member Since Jun 03, 2020  27 posts Russel Gutierrez (russellgutierrez) Oct 03 at 08:33 (edited Oct 03 at 08:34 )
User of Fxview so I know it is regulated as well.

But better to see the stats on the official cysec gov website.
https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/81661/
Attachments:

caringloriana

Member Since Jun 23, 2020  10 posts caringloriana Oct 03 at 09:53
FYI...The ICF compensates clients up to €20,000 if a broker is rendered insolvent. So all you people insecure with your money yet wanting to trade in the high risk biz of trading, this one’s for you.

ele020

Member Since Apr 15, 2020  47 posts ele020 Oct 03 at 10:02
Yes, off course without a doubt CySec regulated brokers are the best choice. When any broker is under the surveillance of regulation, the interest of the trader is automatically protected. Your funds are secured, no trade manipulation is possible and you get a superior power to take your complaints if the broker does something against your will.

Willemcurtis

Member Since Jun 22, 2020  5 posts Willemcurtis Oct 06 at 09:21
I believe Cysec follows MiFID guidelines, which if I’m not wrong further checks if the brokers are following Cysec’s financial guidelines or not.

GeorgeBischof

Member Since Jul 19, 2020  222 posts GeorgeBischof Oct 06 at 12:00
I think it is reliable. I always follow their updates.

Anoxiare

Member Since Jun 25, 2020  6 posts Anoxiare Oct 07 at 06:52
Why just stop at cysec, I would check for other licenses too - ACPR, FCA, etc. ?

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