Before any fx broker in Cyprus can accept forex and CFD traders as clients, they must become authorised by the Cyprus Securities and Exchange Commission (CySEC), which is the financial regulatory body in Cyprus.

Is forex trading legal in Cyprus?

Before any fx broker in Cyprus can accept forex and CFD traders as clients, they must become authorised by the Cyprus Securities and Exchange Commission (CySEC), which is the financial regulatory body in Cyprus.

Is FxPro a legit company?

FxPro says they are well‑known throughout the industry as a trustworthy and reliable broker. They are regulated by the FCA, CySEC, FSCA, and SCB.

Is FxPro regulated in UAE?

FxPro Group Limited (‘FxPro’) is pleased to announce that its subsidiary, FxPro Global Markets MENA Limited, has recently been granted a licence by the Dubai Financial Services Authority (‘DFSA’) to operate as an Authorised Firm (reference no. F003333).

Why are forex brokers registered in Cyprus?

Cyprus FX brokers should protect their traders from broker insolvency or bankruptcy by providing protection under the ICF (Investor Compensation Fund). The ICF compensates clients up to €20,000 if a broker is rendered insolvent, therefore, helping clients to protect a significant portion of their trading capital.

Why does Cyprus have forex companies?

The setting up of an FX company in Cyprus provides many advantages such as: Attractive, low tax regime. Relatively simple application procedure as well as low application fees when compared to other EU jurisdictions. The possibility for passporting the license to operate in other EU jurisdictions.

Does FxPro have Nasdaq?

Here at FxPro, we’re delighted to offer our clients the opportunity to trade CFDs on Nasdaq 100 Stock Index. This American stock index includes the 100 largest companies in terms of capitalization, whose shares are traded on the NASDAQ exchange (hence the second name of this indicator).

Is FxPro a true ECN broker?

Why FxPro is not an ECN Broker FxPro is a true No Dealing Desk Execution broker, meaning that we execute client orders with no dealing desk intervention.

How long is FxPro withdrawal?

Card withdrawals can take around 5-7 working days and International Bank Transfers may take 3-5 business days depending on your bank. SEPA and local transfers usually reflect within the same business day, as do E-Wallets transfers.