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.
Frankly, after such a failure to do its job, it would take a lot of time for me to trust such a regulator again. It's not impossible, but it would definitely be very difficult.
Don't know about all CySEC regulated brokers, but ironfx is really too suspicious. I was going to deposit with them once, thanks to another trader who discouraged me from that
Gornix posted:
Don't know about all CySEC regulated brokers, but ironfx is really too suspicious. I was going to deposit with them once, thanks to another trader who discouraged me from that
I traded with them for short time and conditions net those claimed in their website. I traded away my small account so no wonder that conditions were good :) About theme of this thread, thanks, gives something worthy to think about.
Now or never, all or nothing
Apr 12 2016 at 09:33
patrickx posted: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.
True. The problem is that once lost, trader trust (or anyone's trust, really) is really hard to earn back, especially when money is involved.
Apr 16 2016 at 18:30
nice film
Apr 16 2016 at 22:41
their account managers in London get paid around 25k a year....... enough said about this crap broker!
I would never trade with Cyprus regulated broker. Go for FCA or ASIC regulation
Money never sleep
I thought that CySEC was a reputable regulation, how could such outcome with IronFX take place if so?..
Dave008 posted:
I would never trade with Cyprus regulated broker. Go for FCA or ASIC regulation
100% agree with you. Look at this link, i'm one of the people that posted against Iron fx ending in a guilty verdict.
https://www.forexpeacearmy.com/public/review/www.ironfx.com
Safa trading to all
Apr 19 2016 at 09:13
Ha, speaking of CySEC trying to regain people's trust in them: just last week they decided to toughen up their requirements about the binary options brokers they regulate, and the very same day they announced that the ombudsman of France’s financial regulator AMF released a report on the increasing number of complaints against Cyprus-regulated forex and binary options brokers (https://smnweekly.com/2016/04/14/cysec-tightens-rules-for-binary-options-brokers-while-france-reports-complaints-from-cyprus-regulated-brokers/). Were they trying to do damage control or was it pure coincidence?
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