New Cyprus Forex Brokers On The Way, Plus a Familiar Name

Today, CySec released a memo of companies that have been approved to recieve Cyprus Investment Firm authorization. The list includes

1. S.O Spotoption Limited
2. FXRidge Ltd
3. Impetus FX Limited
4. MfxBroker Limited
5. Sonaf Business Ltd
6. Arturiana Holdings Ltd

From the list we recognize binary options provider SpotOption which received a binary options market maker license from CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term back in May. CySec regulates binary options using same rules as for Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term licensing.

As for the other five names, the other company that is interesting is MfxBroker. A look at MfxBroker.com leads to an under construction site. However, you can find a test site https://test1704.mfxbroker.com with the same logos and color. This website represents a KROUFR regulated Forex & CFD Broker located in Saint Petersburg. Digging deeper, you will also find a Facebook page that is in Spanish and refers to the company as Master Forex, but does have recent posts from Cyprus based Facebook Accounts. As such, the current incarnation appears to be a new venture from the group of MasterForex.org. (same colors, logo, etc).

We reached out to Master Forex who verified that the mfxbroker.com is a new domain name of theirs. However, they wouldn’t release information on whether the new mfxbroker.com domain is part of a complete rebranding of the company, where it sheds its .org TLD, or simply the creation of a new brand. Master Forex did admit that it was seeking European regulation.