Limassol based broker ? Safe ???

Why you open a/c with some Limassol (Cyprus ) based brokers such as FX-PRO , eToro and so on ?

So far as I know , there is no trust a/c protection nor serious regulatory frame work in Limassol based brokers .

So why such brokers still alive ?

Your comments are highly appreciated ?

dont do anything u regret in the future , this is your money , nobody will give u money when u need it !

it's very confused why a good company would put office in Limassol ? Tax issue or just for a good sea view ?

I don't know for other Cyprus-based brokers, but FxPro (EuroOrient Securities) is regulated by the CYSEC which itself is a member of the CESR. (also see members)

What makes you affirm that an European-based financial regulatory body is less serious than any other such institution?

Why Limassol? Maybe some of what is described here can help understand?
I am certain that Cyprus' status as a Tax Haven has also much impact in attracting investors, anyway.

1. I'm talking about Cyprus-based brokers rather than whole eurompean one.

2. http://www.cysec.gov.cy/default_en.aspx
from this site you mentioned, which part transparently tells the public what the brokers can / can not do , and how the investors' trading & funds are protected if they trade with such brokers.

With so many options and levels available from every corner of the forex world, why would you bother to wonder about any of them that you don't trust? I believe that in the present overall political and economic conditions, nothing can be deemed as absolutely safe. Not even the banks! But there is a relative safety checklist to go through when assessing a potential forex brokerage firm, and this is fully described all over the net so you can do your own research on the subject.

However, Forex risks are indeniable per se, and even the ones considered as "sound and safe" at a particular moment of their business life, can suddenly fail to perform and crash (see Refco) so how to know for sure?

Now to the question about why are those firms still "alive", I presume it might be because up to date they just still fulfill what is expected from them?

I personally have three trading accounts, one at the above-mentioned Cyprus-based firm, another at an US regulated one and the third is a German-based and regulated broker. My trust in any one of them is only renewed on a daily basis, or event basis, so to speak. But in the case that any of them acts or performs in a way that breaks that trust, I for sure would turn over some better option. Fortunately, it hasn't happened yet.

If you are planning to chose a trustable brokerage and give them your hard earned money and start trading live, do your due diligence thoroughly, check each item of the list (do a google search on "forex brokers checklist", you will find many versions), applying it to your particular case, and only send your funds when your query leaves you totally satisfied as to the relative safety of your particular choice. Read the disclaimers. Especially this part: "Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose." And prepare yourself well through education and practice before starting live.

I wouldn't bother worrying about whom I do not trust. To be able to trade well, besides all the technical, psychological and educational elements, a relative trust in one's own broker is paramount.

And as tar just said: it's YOUR money. Think and research well and find out if you are prepared to assume the level of risk that Forex trading bears.

That's all I can say for now. I wish you the best in your quest.

1. I'm talking about Cyprus-based brokers rather than whole eurompean one.

2. http://www.cysec.gov.cy/default_en.aspx
from this site you mentioned, which part transparently tells the public what the brokers can / can not do , and how the investors' trading & funds are protected if they trade with such brokers.

You seems to have a lot of experience. Please could you help us by telling us who are your three brokers ? This could really help us in our brokers selection.

Best regards

i would advise a registered broker in the UK. There is FXCM, Alpari UK, etc. I would check the forexpeacearmy web skite for broker reviews.