Is Cysec regulation/authority reliable in terms of financial distress?
Member Since Jun 23, 2020
26 posts
Nov 06, 2020 at 07:25
bonuses are just a trap to attract more traders. Be careful with the broker who provides that. Gone through a lot of scam stories.
Member Since Jun 03, 2020
30 posts
Nov 07, 2020 at 08:07
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.
Member Since Jan 11, 2019
147 posts
Nov 07, 2020 at 08:08
indeed the regulations are reliable. Cysec is one of them. But do make sure to check the firm on their website.
Member Since Oct 23, 2020
41 posts
Nov 07, 2020 at 08:28
Cysec recently added Regtech to verify identities and was earlier coined by FCA.
Member Since Jun 29, 2020
26 posts
Nov 07, 2020 at 09:24
Yeah, I also read the article lately
Member Since Jul 23, 2020
869 posts
Nov 18, 2020 at 13:21
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.
Member Since Jun 11, 2020
5 posts
Nov 19, 2020 at 13:35
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.
Member Since Oct 08, 2020
25 posts
Nov 20, 2020 at 06:36
I like to trade with offshore brokers for the number of benefits they offer in comparison to local brokers.
Member Since Mar 16, 2020
54 posts
Nov 21, 2020 at 06:59
I think the cysec regulated brokers are reliable in terms of security of the funds.
Member Since Jun 11, 2020
5 posts
Nov 23, 2020 at 13:35
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.
Member Since Jul 20, 2020
232 posts
Nov 23, 2020 at 20:56
Yes. They are very reliable. You can research the regulated brokers from Cysec and use them in their trading.
Member Since Nov 05, 2020
23 posts
Nov 30, 2020 at 09:50
It’s advised to go for CySEC regulated brokers. But that doesn’t mean only they are good brokers.
Member Since Feb 11, 2020
12 posts
Dec 08, 2020 at 13:14
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.
Member Since Jun 11, 2020
5 posts
Dec 09, 2020 at 10:40
I don't know how true it is, but I believe a disgruntled trader can approach these financial authorities if a broker under it plays foul. If that's true, then there's a reason to have some faith in regulated brokers.
Dec 10, 2020 at 06:09
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.
Member Since Jun 11, 2020
5 posts
Dec 10, 2020 at 08:07
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.
Member Since Jun 23, 2020
29 posts
Dec 24, 2020 at 05:11
Yes. whatever is regulated will be safe most of the time. This is one benefit we get from regulation. Don’t you worry.
Member Since Jan 11, 2019
147 posts
Dec 24, 2020 at 10:09
Yes it is very much reliable. You can trust this regulatory authority.
Dec 24, 2020 at 12:39
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.
