Cyprus-regulated brokers - regulation

I personally don't trust any broker which is regulated outside FCA or ASIC. There is a reason why all those dodgy brokers with massive bonuses come from Cyprus and the reason is that the regulator is much more lenient...protect your money and go with properly regulated broker...

you r wrong ....CYSEC mean nothing.NFA / CFTC , FCA and ASIC are strong regulated

Thanks for pointing this out. FCA records are public and one can check whether a company is licensed or regulated. Licenses are offered for the companies to provide services. These licenses allow the companies to HOLD client money but not to control client money.

Also, one can check who is behind the broker, as the person's identity registering the broker with the FCA have to be public. Just doing some routine check on a broker that raised my interest, I found out that key people associated with the broker, were also associated with another brokerage firm, shut down in 2010 for 17 counts of fraud and insider dealing on CFD's. Owners were arrested and imprisoned, staff under criminal prosecution. Spinoff individuals from this company later founded the broker that I had intended to deposit with. Needless to say I haven't done it anymore.

So quick check-ups reveal that everyone has skeletons in their closets, crooks and pretty faces alike.

Why would you ever risk putting your money on a practically unregulated area such as Cyprus? They had the people's trust, they lost it, it's over. If they don't betray people's trust again in the next 15 years, prove they've become professional about oversight, maaaaybe...but until then, stick with FCA regulated brokers. Not to say the FCA is any guarantee either, (see FXCM), but at least you know that any broker regulated by the FCA has something to lose if they abuse the system. Another good reason, is what happened to Alpari UK....can you imagine that same scenario in Cyprus....? You can, can you ?...and it's not nice is it? Yet another is the UKs compensation scheme.... I could go on and on...but that should cover it.

FCA is the best regulation, followed by Asic. I do not consider US regulation because of strong restrictions on leverage Fifo and hedging. All other regulation are like nonexistent. But there are some decent brokers Cysec regulated and i am not scared to have some small funds there. But a Cysec regulated broker is not the place where to keep decent balances