Cyprus Broker License

The process of acquiring a Cyprus broker license is not a straightforward one and it is therefore advisable to gain specialist knowledge and information prior to completing your Cyprus broker application. This is to avoid any delays during the application process. Detailed information about the Cyprus broker license procedure can be obtained from a professional consultancy firm, which will help you to understand everything about Cyprus’ regulatory body and licensing procedures.

For information on how DeltaQuest can provide comprehensive consultancy on all areas of broker licensing in Cyprus, Contact DeltaQuest.

Cyprus Forex Broker Firms

Cyprus offers a very positive environment to invest a forex broker firm within. Cyprus is a well established and respectable jurisdiction in regards to the issuing of a Cyprus forex broker license. It follows very strict rules and regulations as implemented by the financial services authority of Cyprus (CySEC). Therefore, having a Cyprus forex license can prove to be a very positive investment, as it gives your traders the peace of mind that you are a fully licensed and regulated forex company in an honest and reliable jurisdiction.

Cyprus forex licenses are issued by the Cyprus Securities and Exchange Commission (CySEC). This is a highly stringent forex licensing and regulatory body, and is renowned for being one of the top licensing bodies in the world. Many of the world’s largest forex brokers hold a CySEC forex license. Without it, a Cyprus-based forex company will not be considered as a serious and professional institution.

Before CySEC was formed, the Central Bank of Cyprus was the main regulating and licensing body for investment firms. As Cyprus grew in popularity as an offshore jurisdiction, the Central Bank of Cyprus struggled to cope with the issuing of licenses, and thus CySEC was established as a separate licensing. CySEC became the predominant licensing body for establishments that involved investment, forex and other similar firms.

Obtaining a CySEC Forex License

Obtaining a CySEC forex license is a fairly complicated procedure and it is therefore advisable to obtain professional legal advice from a consultancy firm. To obtain a CySEC Forex License you will need to have a company in Cyprus that is specifically formed for the purpose of providing Forex activities. You will also need to have a minimum capital invested in a Cyprus bank. In addition to the abvYou will also need special Memorandum and Articles of Association, as well as the full range of documentation required. This will include your company manuals for internal and external procedures, a full document that includes your compliance procedures, your fit and proper test details and your company business plan. Using a professional consultancy firm to guide you through the entire application procedure can ensure that you follow all the correct procedures and supply the correct documents to CySEC. DeltaQuest can help you to obtain your Cyprus CySEC broker license in a timely and efficient manner.

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