Cyprus is an island in the Mediterranean and the part of the EU truly became one of the main hubs of Forex Companies. The destination became popular due to a possibility to carry out operations across Europe through relatively easy establishment conditions, its perfect location and availability of regulatory agency together with low Cyprus taxes.
- Cyprus Securities and Exchange Commission or CySEC regulate most all of the brokers that are based and headquartered in Cyprus.
- Furthermore, there are a significant number of companies operating various types of financial activities out of Cyprus and complies with CySEC regulations too.
- CySEC operates as a subsidiary of the European MiFID which enables members to perform European businesses, yet throughout relatively easy regulatory guidelines and faster approval processes.
CySEC also is a broker-friendly authority that allows most of the financial practices that even showed cases indulged into some high-risk operations and resulted in criticism from the world respected authorities. However, the CySEC constantly reforms its guides in order to ensure that all CySEC Regulated Forex Brokers complies fully with the protective laws towards investors, their funds and interests.