Capital.com joins eToro and Revolut as the third retail-facing brand to get approval from CySEC for the license.
CySEC
According to an update from the Cyprus Securities and Exchange Commission (CySEC), VM Vita Markets renounced its authorisation with the regulator.
BrightPool was the market maker for IG Group’s Germany-based exchange Spectrum Markets, which was closed last year.
Paphos mayor Phedonas Phedonos asked why the Cypriot regulator has not looked into brokers receiving funds from LATAM subsidiaries.
Global demand for speculative financial products continues to grow but European regulators seem determined to push clients offshore.
Coinbase has hired a former XTB exec as local CEO. The company appears to be launching perpetual futures trading via its Cypriot entity.
Robomarkets is the latest broker with headquarters in Cyprus to stop using its CySEC license to onboard clients for CFD trading in the European Union.
The CFD industry plays an outsized role in the local economy, employing a huge number of people but also bringing a lot of cash relative to Cyprus’s GDP.
A guide on how to start a FX/CFD broker in Cyprus, covering costs, regulations, and how long it takes to set up your broker.
