What is CySEC
CySEC, also known as the Cyprus Securities and Exchange Commission, is a regulatory body that is responsible for regulating all activity carried out by foreign exchange companies and financial companies located in Cyprus.
DeltaQuest have many years of experience in forex company licensing and registration, and can assist you with all of your forex licensing requirements. To see all the major forex regulatory bodies, please view our Forex Regulators page.
CySEC explained
When setting up a forex company, your company will be subject to the rules and regulations imposed by the regulatory body of your chosen jurisdiction. Each regulatory body has its own rules and restrictions with regards to the initial set up of a financial institution, as well as the management and administration of your company.
When setting up a forex company in Cyprus, your company will be license and regulated by CySEC. CySEC’s aim is to supervise and control all operation of the stock exchange and all transactions carried out on the stock exchange. In addition, CySEC issue licenses to investment firms and provide protection to all clients by imposing strict rules and disciplinary penalties to any brokerage firms that behave in ways that do not adhere to CySEC’s regulations. CySEC has very strict rules in place with regards to all financial activity, in order to reduce money laundering and other illicit financial activity.
Before you can begin the process of licensing and registering your forex company, you must make an initial application to CySEC, along with the required fees. The purpose of imposing high fees during the application process is to ensure that those people who do apply for a forex license are entirely serious about the procedure.
Having a forex company in Cyprus is considered a very positive acquisition, as CySEC has a solid reputation as a regulatory body.
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