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Is Cysec regulation/authority reliable in terms of financial distress?
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Nov 07, 2020 at 08:07
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Anoxiare posted:
Also note Cysec only works if you fall under the jurisdiction of Europe. I see the point in having a Cysec regulated broker but should also have in view the other authorities, take CFTC agency for US.
atleast better than having no regulations at all.
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Nov 19, 2020 at 13:35
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LyudmilLukanov posted:Mathewshayden posted:I think that's good. Cysec is stepping up into their game to safeguard investors from scam.
Cysec recently added Regtech to verify identities and was earlier coined by FCA.
that's one of the reasons I have always shown faith in certain regulatory bodies. Forex is surely a risky business but from our end we can still try and safeguard ourselves. Till date I keep hearing scam stories despite such binding laws, it's only up to us traders to stop using unregulated brokers.
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Nov 23, 2020 at 13:35
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Amber_0302 posted:I too think so. Although trading in itself in never risk-free but at least by using a highly regulated broker one can be a little bit certain on the safety part.
I think the cysec regulated brokers are reliable in terms of security of the funds.
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Dec 08, 2020 at 13:14
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I will personally express my opinion that broker regulation is a purely speculative phenomenon. Namely, the method of making money with brokers. In essence, this means that the broker pays a lot of money to some authority that issues a certificate that the broker is regulated. Essentially, it doesn't change anything. Broker qualities are important in other aspects.
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Dec 10, 2020 at 06:09
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No doubt Cysec license is good but it doesn’t mean all cysec regulated brokers are good. You’ll need to test if their trading conditions fit your range. Plus, normally known brokers have multiple licenses, commonly in hand with FCA for UK or ASIC for Australia. My advice is to select some brokers of your choice, test with the list of your checklist and decide to proportionate the accounts with brokers. I’ve also diversified my funds with pepperstone, hfx, IG and fxview. Just give your efforts and you’ll be good to go.
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Dec 10, 2020 at 08:07
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Brick_56 posted:
No doubt Cysec license is good but it doesn’t mean all cysec regulated brokers are good. You’ll need to test if their trading conditions fit your range. Plus, normally known brokers have multiple licenses, commonly in hand with FCA for UK or ASIC for Australia. My advice is to select some brokers of your choice, test with the list of your checklist and decide to proportionate the accounts with brokers. I’ve also diversified my funds with pepperstone, hfx, IG and fxview. Just give your efforts and you’ll be good to go.
I am looking for a platform that is easy to use and does not charge any hidden fees. Of course low coomissions would be a plus. Any recommendations from your list? TIA.
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Dec 24, 2020 at 12:39
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adrianmatusiaks posted:Brick_56 posted:
No doubt Cysec license is good but it doesn’t mean all cysec regulated brokers are good. You’ll need to test if their trading conditions fit your range. Plus, normally known brokers have multiple licenses, commonly in hand with FCA for UK or ASIC for Australia. My advice is to select some brokers of your choice, test with the list of your checklist and decide to proportionate the accounts with brokers. I’ve also diversified my funds with pepperstone, hfx, IG and fxview. Just give your efforts and you’ll be good to go.
I am looking for a platform that is easy to use and does not charge any hidden fees. Of course low coomissions would be a plus. Any recommendations from your list? TIA.
If you're around EU then fxview, if ASIC is your suit then pepperstone is good. For trading platforms they have metatrader like most of the forex brokers, so you can go either for mt4 or mt5 whatever you like, metatrader is quite easy to use.

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