Forex broker in Cyprus

tc81

Trader
Jun 10, 2012
1
0
12
Hello,

I am newbie here and I am thinking of opening an account with AlpariFS in Cyprus.
I heard that Cyprus government is asking for a bailout with EU.
Do you think it's safe for me to open account with them?
How will the bailout affect Forex brokers in Cyprus?
Any input is appreciated.

Thanks in advance to everyone for helping me out.
 

DiF0r

Active Trader
Dec 16, 2011
67
0
27
I'm using a few Cyprus registered brokers and I don't have a problem with that. Don't really think anything can happen?
 

jlancom

Trader
Aug 17, 2012
2
0
17
London
www.wheretoforex.com
No problem here with Cyprus registered brokers either. Beside that many international companies, not only brokers have decided to establish their business in Cyprus. Better tax planning is one of many reasons of that so I don't think, something will happen.
 

Zler

Trader
Sep 7, 2012
2
0
12
I also think it will hardly affect Forex brokers, since really small part of their clients are Cypriots. Important note, that recent financial crises 2008 didn't affect any of Forex brokers and that industry was still expanding..
Alpari itself seems to be a trusted broker...
 

dipurock

Trader
Sep 24, 2012
4
0
12
hay I am newbie here and I am thinking of opening an account with AlpariFS in Cyprus.
I heard that Cyprus government is asking for a bailout with EU.
 

PaladinFX

Active Trader
Nov 21, 2012
76
0
27
Germany
www.paladin-consultants.com
I don't see any danger to Cyprus-based forex brokers. They have nothing to do with the Government of the country they reside in applying for EU help.
Apart from that, France and Germany have been bailing out half of Southern Europe for years now ... helping Cyprus is pocket money in comparison, hehe.

I would be careful of Cyprus-based brokers for different reasons.
Despite the fact that CySEC (the Cyprus regulator) is a member of MIFID (which regulates EU-based brokers on an international level), I would not consider Cyprus-based brokers well-regulated for various reasons, the listing and discussing of which would take things too far here.


Cheers,
P.
 

Rob Taylor

Active Trader
Oct 14, 2012
131
2
37
UK
www.tradeforexmakemoney.co.uk
The main reason brokers register their company in Cyprus is because its offshore, and they can get tax benefits by using an offshore company.

Its perfectly legal and above board. I would not be worried about using a broker registered in Cyprus. Stick with the big guys though.
 

PaladinFX

Active Trader
Nov 21, 2012
76
0
27
Germany
www.paladin-consultants.com
The main reason brokers register their company in Cyprus is because its offshore, and they can get tax benefits by using an offshore company. Its perfectly legal and above board. I would not be worried about using a broker registered in Cyprus. Stick with the big guys though.

That is correct, of course.

Take a closer look at the requirements (minimum capital, documentation etc) and registration process for becoming a regulated broker in Cyprus, though, and compare it with those of the UK, Australia or the US.

I'm not saying Cyprus-based brokers aren't trustworthy.
My point is that one has to take enough risks trading, so it makes sense to attempt eliminating any broker-related risks.
To achieve that, UK/US/Aussie brokers are simply more feasible.


Cheers,
P.
 

infinmarkets

Trader
Jun 28, 2012
11
0
12
Sure, big guys have more stability. iron phrase) What about Cyprus, you're commercial company, have bank accounts in Europe, what risks could we speak about?
 

forexbonus100

Trader
Nov 1, 2014
8
0
12
forexbonus100.com
There are more than 40+ Brokers that are operating from Cyprus ,we have written an article recently about what to look about the [URL deleted]Cyprus brokers
The Major brokers from Cyprus are Ironfx and XM
 

olivine

Trader
May 21, 2015
140
0
7
Cyprus is a country of forex broker , if I am saying this then it is right because there is separate mt5 cloud for only cyprus. I get to know about cyprus when I started trading with Mayzus and found that they are located in cyprus.
 

Steve Lock

Master Trader
Feb 28, 2015
202
1
52
Cyprus is a country of forex broker , if I am saying this then it is right because there is separate mt5 cloud for only cyprus. I get to know about cyprus when I started trading with Mayzus and found that they are located in cyprus.

Do you have any problems with Mayzus?
 

March

Banned
Mar 1, 2015
82
0
0
Hello,

I am newbie here and I am thinking of opening an account with AlpariFS in Cyprus.
I heard that Cyprus government is asking for a bailout with EU.
Do you think it's safe for me to open account with them?
How will the bailout affect Forex brokers in Cyprus?
Any input is appreciated.

Thanks in advance to everyone for helping me out.

Cyprus is an offshore zone, I don't really think it's safe to work with them. I've tested trading with them, but not really satisfied....

Some people can't even withdraw their money from these companies. Just had a conversation about it with another guy from Iron.
 

ambitionfx

Active Trader
Jul 1, 2015
76
2
39
Cyprus is the center of Forex brokers, at least hundreds forex brokers there, most forex brokers I know are from Cyprus.