Is Cysec regulation/authority reliable in terms of financial distress?
Adrian Matusiak (adrianmatusiaks)
Miembro desde Jun 11, 2020
posts 5
Oct 03, 2020 at 05:14
(editado Oct 03, 2020 at 05:17)
I often see the traders recommending Cysec regulated firms and brokers. Does that actually help in case of insolvency with brokers.
Keaton Richards (keatonrichard)
Miembro desde Jun 03, 2020
posts 30
Oct 03, 2020 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!
Jeannette Bishop (jeannettebishop)
Miembro desde Jun 09, 2020
posts 14
Oct 03, 2020 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.
Miembro desde Jan 11, 2019
posts 147
Oct 03, 2020 at 07:58
Yes, Cysec reagulated brokers are more reliable if we look at the side of fund security
Russel Gutierrez (russellgutierrez)
Miembro desde Jun 03, 2020
posts 56
Oct 03, 2020 at 08:33
(editado Oct 03, 2020 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/
But better to see the stats on the official cysec gov website.
https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/81661/
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Miembro desde Jun 23, 2020
posts 26
Oct 03, 2020 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.
Elena Triston (ele020)
Miembro desde Apr 15, 2020
posts 219
Oct 03, 2020 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.
The more your practice, the more you learn.
Miembro desde Jul 19, 2020
posts 318
Oct 06, 2020 at 12:00
I think it is reliable. I always follow their updates.
Miembro desde Jun 29, 2020
posts 26
Oct 07, 2020 at 09:15
FCA for sure in UK…
Miembro desde Jun 23, 2020
posts 29
Oct 12, 2020 at 04:20
Nowdays, trading with IG! Looking to open an account with another trading broker. @russellgutierrez How's your experience with Fxview for executions & withdrawals?
Miembro desde Jul 23, 2020
posts 869
Oct 29, 2020 at 16:42
Anoxiare posted:It depends on what country you are in. Cysec is the major regulator in Cyprus and FCA in UK.
Why just stop at cysec, I would check for other licenses too - ACPR, FCA, etc. ?
Jeannette Bishop (jeannettebishop)
Miembro desde Jun 09, 2020
posts 14
Nov 04, 2020 at 04:52
I don’t feel Fxview can be compared to established brand like IG
Russel Gutierrez (russellgutierrez)
Miembro desde Jun 03, 2020
posts 56
Nov 04, 2020 at 08:11
Though I know the spreads for IG are competitive around 0.6 pips, but for Fxview they are even better.
Can see the brand in top 3 atleast for EURUSD:
https://www.myfxbook.com/forex-broker-spreads
@Johnathankim: It didn’t take me more than 2 days for withdrawals and only once or twice 3 days. Weekends are not applicable.
Can see the brand in top 3 atleast for EURUSD:
https://www.myfxbook.com/forex-broker-spreads
@Johnathankim: It didn’t take me more than 2 days for withdrawals and only once or twice 3 days. Weekends are not applicable.
Jeannette Bishop (jeannettebishop)
Miembro desde Jun 09, 2020
posts 14
Nov 04, 2020 at 09:12
Yeah, that is, thanks for including. IG is heavy on their offerings too - be it forex, indices, shares, commodities, cryptocurrencies, bonds, ETFs, options. It has a noticeable global footprint which is another plus. Speeds are lightning for paypal transactions too.
Russel Gutierrez (russellgutierrez)
Miembro desde Jun 03, 2020
posts 56
Nov 05, 2020 at 04:00
You’re so spot on about IG’s worldwide presence. Still waiting for them to open up with MT5 and Acttrader (something that Fxview already has)
Miembro desde Jun 23, 2020
posts 29
Nov 05, 2020 at 05:25
@russellgutierrez well put, thanks!
Miembro desde Oct 08, 2020
posts 29
Nov 06, 2020 at 04:15
(editado Nov 06, 2020 at 04:15)
likewise, cysec even limits the leverage and capital requirements. Any broker failing to meet these, would receive fine notifications at their premises and in worst cases, license can be suspended.
Keaton Richards (keatonrichard)
Miembro desde Jun 03, 2020
posts 30
Nov 06, 2020 at 05:11
right on, also keeps a check on bonus qualifications
yana hansen (78678676)
Miembro desde Oct 16, 2020
posts 137
Nov 06, 2020 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.
