Ads and landing pages have been popping up with "We're not in Cyprus" type ads.
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Blog posts tagged in Cyprus
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I'm scared of CY BrokersPaul, I agree 100%. It's a simple statement that is both factual and has been suggested by all traders with Money in Cyprus broker
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RE:I'm scared of CY BrokersI agree Ricky -- traders and investors should be concerned, generally, with the safety of their funds and the safety of their brok
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lol, but it' trueCyprus brokers are mostly Russian Back chop shops that would have never been able to be EU regulated were it not from a passport i
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RE:lol, but it' trueThanks Paul. There certainly are Russian (and other nationality-backed) "chop shops" in Cyprus. But the larger firms are not. And
CySEC details disclosure rules required to prove funds in segregated bank accounts in fact belong to individual investors.
CySEC allows FX brokers to release client names and data to banks, to allow for release of client funds.
Central Bank of Cyprus has agreed to not haircut segregated bank accounts over €100,000, where the ultimate beneficiaries are small individual investors.
Unlike the original proposal, uninsured depositors will likely lose around 40% (not 10%) at Cyprus' two largest banks.
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mrIs this possibly another rivet in the Federal United States of Europe? The Cyprus debacle would be/is virtually nothing in EU term
The website home pages of several leading Cyprus FX and Binary brokers now lead with "Your Funds Are Safe" ads.
Wall Street Journal quotes LeapRate research in its article on Cyprus FX brokers and the bailout.
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Its a wake up call for tradersShould Cyprus levy a tax on deposits and if it affects Fx broker's client funds, how will it play out in regards to client securit
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Good article with good researc...Gerald interesting article with foresight. However Malta will pose the same risks as Cyprus. But then again people have been tradi
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RE:Good article with good rese...Good point Andrew, and we totally agree. This will have repercussions well beyond Cyprus, no matter how this eventually shakes out
Saxo Bank co-CEO's comments question whether the 10% confiscation of client funds at Cyprus banks will also apply to Cyprus FX brokerages.
CySEC issues press release asserting its "authority to reach settlements".
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FinesIf you take a look at UFX's track record over the past few years, i dont think its any suprise that they received a fine. Previou
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responseIt seems that you lack some basic understanding of how CySEC works. Your argument regarding CySEC's intention to fine deep-pockete
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Shakedown is the right term!Leo, whether CySEC pockets the money or not is irrelevant. Indeed they do not directly pocket the funds but the point is they are
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RE:Shakedown is the right term...If you take a look at UFX's track record over the past few years, i dont think its any suprise that they received a fine. Previou
CySEC threatening FX brokers if they don't settle quietly and pay large fines.
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ShockingHow much of this story is speculation, is there any evidence? Surely the Broker - especially influential ones will stand up to thi
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Regulatory ArbitrageAnd so the game of cat and mouse with the regulators will continue. Cyprus was a great choice for certain brokers until it is not
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DrThey should be fined 5M They pay because they are systematic scammers. It's well known Forex is made of 2 parties: Scammers and
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CySec alledged suspicious beha...Thanks for the thoughtful incite Dave, very informative and clearly an educated opinion. Perhaps we could keep focus on the issues
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JamesThanks for the thoughtful incite Dave, very informative and clearly an educated opinion. Perhaps we could keep focus on the issues
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