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Is Cysec regulation/authority reliable in terms of financial distress?
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78678676

Member Since Oct 16, 2020  8 posts 78678676 Nov 06 at 06:02
Cysec regulation is indeed reliable when it comes to your funds. The ICF is an extra layer of protection. You can approach the regulation if you feel the need of it.

caringloriana

Member Since Jun 23, 2020  10 posts caringloriana Nov 06 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.

Anoxiare

Member Since Jun 25, 2020  6 posts Anoxiare Nov 07 at 06:13
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.

keatonrichard

Member Since Jun 03, 2020  11 posts Keaton Richards (keatonrichard) Nov 07 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.

Gracewilson1995

Member Since Jan 11, 2019  73 posts Gracewilson1995 Nov 07 at 08:08
indeed the regulations are reliable. Cysec is one of them. But do make sure to check the firm on their website.

Mathewshayden

Member Since Oct 23, 2020  20 posts Mathewshayden Nov 07 at 08:28
Cysec recently added Regtech to verify identities and was earlier coined by FCA.

Freddraven

Member Since Jun 29, 2020  6 posts Freddraven Nov 07 at 09:24
Yeah, I also read the article lately

LyudmilLukanov

Member Since Jul 23, 2020  123 posts LyudmilLukanov Nov 18 at 13:21
Mathewshayden posted:
Cysec recently added Regtech to verify identities and was earlier coined by FCA.

I think that's good. Cysec is stepping up into their game to safeguard investors from scam.

adrianmatusiaks

Member Since Jun 11, 2020  3 posts Adrian Matusiak (adrianmatusiaks) Nov 19 at 13:35
LyudmilLukanov posted:
Mathewshayden posted:
Cysec recently added Regtech to verify identities and was earlier coined by FCA.

I think that's good. Cysec is stepping up into their game to safeguard investors from scam.


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.

Rosstaylorr

Member Since Oct 08, 2020  20 posts Rosstaylorr Nov 20 at 06:36
I like to trade with offshore brokers for the number of benefits they offer in comparison to local brokers.

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