Exclusive: Royal Forex Gets CySEC License, Looking for European Breakthrough

Royal 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 or RFXT, one of the biggest players in the Middle Eastern retail forex market, has set foot in Cyprus, the company’s Chairman Rayan Annan confirmed to Finance Magnates. The move happens after the brokerage started its business in Lebanon by focusing on the Middle East and expanded its services into APAC via an ASIC regulated subsidiary in 2014, which is headed by industry veteran Andrew Taylor.

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The company has obtained a license from the Cyprus Securities and Exchange Commission (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) and recently signed a lease on its office premises in the heart of Limassol.

ROYAL Group’s Chairman Rayan Annan commented to Finance Magnates: “Regulation has been on the forefront of the online Foreign exchange industry for the past few years. We hold regulation in the highest regard and constantly seek to expand our products and services.”

The company’s CySEC license is going to be used by the company to further expand its business to cater to a truly global customer base. The company is expecting its license activation in October. Royal Forex is also licensed by the Central Bank of Lebanon as a Category One financial brokerage firm and is regulated by the financial markets supervisory authority of Lebanon, the Capital Markets Authority.

“With an already strong presence in the Middle East, and APAC via our ASIC regulated entity, our Cyprus office will be an ideal stepping stone into the European market. We plan to continue expanding our global business with further announcements to come in early 2017,” Mr Annan added.

The company is also offering its prime brokerage services and could use the CySEC license to expand its services into the European market in the B2B area.