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Unregulated Forex Becomes Criminal Offence in Cyprus

Broco has this on their website,

"Broco is in the process of obtaining a licence/authorisation from the Cyprus Securities and Exchange Commission (CySEC) to operate as a Cyprus Investment Firm. The application to CySEC has been submitted within the deadline in accordance with CySEC's announcement dated 06 November 2009."
Quoting Lianna@FxPro
The Australian office is not yet operational, but details will be available on the website when it has opened
Being an accredited member (not to FF but to a certain authority of a certain government) I suggest you request certain things regarding an Australia office, be removed from any form of online media, or you may be breaking a law before even setting up shop here.

It is illegal to advertise or solicit to clients of Australia residents WITHOUT an AFSL.. I am sure your compliance department will agree.
For all traders who wish to double check to ensure that forum posts contain the correct information, you can at any time check the complete list of regulated and licensed brokers in Cyprus directly on the CySec site, which is located here:

http://www.cysec.gov.cy/licence_members_1_en.aspx

You can clearly see here that Tadawul FX is actually licensed and regulated by CySec (license no 103/09) so I would also assume (as already suggested in other replies to this thread) that this misleading post is merely from competition. Shame their information was incorrect.
after reading a number of thread about opening account in cyprus, is it fxpro reliable these days?
sorri, i do not mean to offence. just want to be sure it is safe for fund transaction to/from.
Hi All,



Could any of our gentle member recommend me a lawyer in Cyprus. I feel i, and a group of poeple, we may need one there.

If not here, by PM, thank you

Cheers all.
Quoting jackdan
Hi All,



Could any of our gentle member recommend me a lawyer in Cyprus. I feel i, and a group of poeple, we may need one there.

If not here, by PM, thank you

Cheers all.
Read this:
http://www.forexfactory.com/showthread.php?t=302095

Hi, you can join with me and my lawyer, we are going to sue one fx broker of Cyprus and probabily next week I will tell if even the Cysec as I visit their offices and I won't get answers.
Quoting Lianna@FxPro
The Australian office is not yet operational, but details will be available on the website when it has opened
Will you release photos of your Australian office?
how about some reviews of these brokers? if they can control the spread and they offer a good execution time, i don't see a problem. rather than looking at whether they are government approved, if the majority of the people have a positive experience then the broker should be trusted. some brokers that are regulated are still scams so i would look more at the reviews of traders.
  • Post #29
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  • Last Post: Feb 11, 2012 6:37pm Feb 11, 2012 6:37pm
Quoting jhehe
how about some reviews of these brokers? if they can control the spread and they offer a good execution time, i don't see a problem. rather than looking at whether they are government approved, if the majority of the people have a positive experience then the broker should be trusted. some brokers that are regulated are still scams so i would look more at the reviews of traders.
Yeah, I agree.
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