Forex Trading: Why Trade with Cyprus Securities and Exchange Commission CySEC Brokers

Formed: 2001

Jurisdiction: Republic of Cyprus

Headquarters: Nicosia, Cyprus


The CySEC is responsible for the supervision of the following entities:

  • Cyprus Investment Firms (CIFs)
  • Cyprus branches of Investment Firms (Ifs) of other EU member-states
  • Tied Agents of CIFs
  • Undertakings for Collective Investment in Transferable Securities (UCITS)
  • UCITS (Undertakings for Collective Investment in Transferable Securities)  Management Companies
  • UCITS Agents
  • Cyprus branches of UCITS Management Companies of other EU member-states
  • Administrative Services Companies – Trustee and Fiduciary Service Providers
  • Variable Capital Investment Companies
  • Alternative Investment Fund Managers (AIFMs)
  • Regulated Markets
  • Central Counterparty Clearing House (CCPs) of over-the-counter (OTC) derivatives
  • Trade depositories of over-the-counter (OTC) derivatives

Introduction to CySEC:

Cyprus Securities and Exchange Commission or CySEC was launched in 2001 as an interdependent public corporate body to regulate leveraged foreign exchange transactions and investment services market in the Republic of Cyprus. As of 2004 Cyprus participate in the European Union, therefore CySEC became a respected part of European MiFID regulation.

Besides the fact that Cyprus has an ideal location, it is also a tax haven with its lower tax rates, as well significant background in the financial business. In addition, the MiFID harmonization law allows Cyprus registered investment firms and brokerages to access all European markets.

In particular, establishing of the Cyprus securities market as one of the safest and attractive investment destinations a significant number of Forex Brokers, as well as vast of Binary Options firms obtained CySEC license and establish their operational offices in Cyprus.

Actually, Cyprus is a known hub of Binary Brokers, as many firms found their benefits by the CySEC authorization since most other European jurisdictions and regulators strictly prohibit binary trading. However, the significant move happened by 2012 once the board made an announcement regarding binary options classification and categorize them as a financial instrument. All binary options providers were obliged to restructure offering and clearly state to every customer the highest risk in binary trading as well to operate in a fair way towards the traders. Yet, Cyprus still remains as first and one of the leading trading centers that proclaimed binary options as an investment instrument and gives access to the Eurozone.

Considering the essential growth of the industry, CySEC role becoming even more valuable, as authority ensures investor protection and healthy development of the trading offer through its effective supervision of the securities market.

Why trade with a CySEC regulated broker?

Given the fact that Forex market is an OTC market, which has no specific regulations or jurisdiction, it is necessary to understand who is a trustful broker and who is not, to protect investors, as well to control the market in order to function smoothly. And that is a purpose why responsible Regulators were established by various jurisdictions.

In turn, the responsibilities of CySEC include issuance of licenses to brokers operating in the foreign exchange and stock markets, their subsequent control and audit to ensure compliance with the laws, detection of violations with further imposes of penalties, disciplinary actions or case processing through the state bodies.

The grant of license and before any forex company becomes an official CIF (Cyprus Investment Firm) a broker should comply with the set of standards that diverts to the company history and its business model of operation. The CySEC will examine the application while the broker should have a physical office in Cyprus, operate at least for 3 years, to have the specified type of activities and financial service, as well properly enable customer protective tools through a fund segregation, join to schemes and more. The broker should also establish a high operation fund subject and depending on the content of an application, thus the STP applicant capital requirement is at least €200,000, while the Market Maker brokerage model has to confirm its capital adequacy ratio of at least €1 million.

Once the broker is official CySEC Regulated Broker the firm then can operate in the stock, forex and CFD markets and what is important mandatory follows all the guidelines set by MiFID (the Markets in Financial Instrument Directive). Besides that, the CySEC continues to work closely with every regulated broker and inspects operation on a daily basis.

In recent years, CySEC became a very active authority in terms of inspection of Forex Brokers and suspicious activities, as there were issues and cases in operational history with some of Cyprus regulated brokers. The latest announces were issued for non-compliance with the applicable laws, e.g. include suspend and withdrawal of AnyOption broker and Fenix Capital Markets Trading licenses, or impose for fine of total €130.000 the InstaForex and ForexMart. Therefore, CySEC has been changing its position so now acting more sharp towards the brokers which service does not meet reporting requirements and breach obligatory policy. The imposing of sanctions for violations include announcements of the CIF license withdraws, slapping fines and more frequent check-ups to make sure compliance with new measures.

In the scenario and unlikely event that a CySEC regulated Broker goes insolvent, the clients are covered by the Investor Compensation Fund for IF Clients (“ICF”). The purpose of the ICF is to secure the claims of covered clients against the ICF members through the payment of compensation if the necessary preconditions are fulfilled with the maximum amount of compensation up to €20,000 per client.

Apart from the main role to regulate and supervise forex brokers, CySEC accurately reviews and amends the new products offering, such as current trends around Cryptocurrencies, Binary Trading, etc. The Cyprus authority when necessary updates investment advice, undertaking training to prevent frauds and financial abuse, including checking issues of money laundering and other threats, as well as educate publicity by regular courses and publications.

Even though the Cyprus Securities and Exchange Commission does not have restitution powers and therefore does not investigate individual complaints.  If you have a complaint, it is best to first ask the CIF involved to put things right, while CIF’s are required to respond in writing within five days. The traders also recommended to check the issue with the office of the Financial Ombudsman, if not satisfied with the firm’s response, they rejected your complaint or you do not have the answer. The Financial Ombudsman is an independent service for settling disputes between CIF’s and their clients.

How to submit a complaint:

The Financial Ombudsman website:

What is also precisely, the complaints received from clients about unscrupulous brokers or fraud companies will be resolved by the Commissions as soon as possible. At the same time, the CySEC publishes its official listing of warnings, list of non approved domains that help to prevent scams, while the information about unprincipled brokers is open and transferred to other financial regulators.

List of Regulated Forex Brokers

In order to help traders to verify information about CySEC forex broker license, the official website publishes a list of regulated entities. The CySEC broker’s website also displays on the footer or regulation page its CySEC license number, which consists of 5 digits in the format 111/11. Here you can see TriumphFX CySEC authorized broker

As well, you can always check on CySEC Broker Reviews with updates and news from the broker. Currently, Cyprus regulated brokers’ list at our website includes 50 CySEC Regulated Brokers and growing. While in total there are more than 200 investment firms regulated by the Cyprus Securities and Exchange Commission. 


Of course, CySEC has many potentials to become at the level of a reputable authority like UK’s FCA and implement more strict requirement to set up financial investment or trading company. Yet, Cyprus itself continues its growth and remains a popular Forex Broker destination. In fact, there are much more regulated forex broker in Cyprus rather than any other European or even world jurisdictions.

Since the majority of Europe’s Forex brokers regulated by the CySEC, the imposed authority along with the MiFID guidelines and European control establish a strong impact on the industry and of course traders’ protection. The transparent and fair manner of operation acts towards traders as the contractual obligations fulfilled by the regular reporting, along with the constant eye on broker’s operation, as the financial company may impose a risk to have sanctions and penalties, which are actually not that rare among CySEC brokers.

Forex Trading: Why Trade with UK FCA Regulated Brokers

FCA Regulator

Formed: 1 April 2013
Jurisdiction: United Kingdom
Headquarters: 25 North Colonnade London

FCA Regulated activities

  • corporate governance
  • financial services
  • securities and derivatives (category including Forex & CFD trading)
  • insurance
  • consumer protection
  • financial literacy

Introduction to FCA

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom that operates independently from the UK Government, is a conduct regulator for over 58,000 financial service firms, markets in the UK, as well the Prudential Regulation Authorization.

The FCA took responsibility for financial stability by bringing together a new regulatory structure and enhance its predecessor the Financial Services Authority (FSA) responsibilities, the agency that regulated financial service between 2001 and 2013. The authority received significant power to cover responsibility for regulation of the financial sector and firms, including CFD and Forex brokers, providing services to traders and investors. The objective of FCA is a maintenance of the financial market integrity in the United Kingdom and secure an appropriate degree of trader’s protection.

FCA, as an independent public authority, regulate the conduct by both retail and wholesale financial services firms with a purpose defined by the Financial Service and Market Act 2000 (FSMA). FCA aims to make financial markets work well so that traders and investors get a fair deal, through its enhanced market integrity and promote competition.

FCA website

In this FCA review to get things more clear we cover the following highlights:

Why trade with an FCA regulated broker?

In fact, any firm in the UK whether a business, asset manager, broker or financial investment firm the activity is mandated to be registered and regulated by the FCA. First of all, the FCA set a range of registration requirements before the broker is allowed to operate in the market, which includes raising of fees with a high initial capital to apply for the FCA license and carry out its regulated activities further. The license type based on factors such as a scale of activities and divided to STP license (check on STP Forex Brokers), which imposes EUR 125,000 initial capital and EUR 730,000 for Market Making license. In addition, upon application, the company will be checked for its adequacy to operate in the market, with a review of business plans, its budgets, resources, applied systems, and controls.  The directors and key staff will be interviewed and obliged to have the necessary qualifications with an effective background, so the requirements are met and the director experienced enough to run the brokerage.

In addition, the broker should maintain a physical office in the UK and organized to comply with the FCA rules and mandates at all times. FCA Brokers operate their business based on the FCA handbook guidelines to ensure clients are being treated fairly, the information provided accurately and most important, transparently.

The protective measures that are important to the trader, in particular, issues brokers in demand to segregate the client’s funds from the broker’s operational fund. That means broker stores their operation fund at separated from the client bank account, thus cannot use clients money for any purpose or even touch it. Furthermore, FCA brokers provide negative balance protection to their traders, so clients cannot lose more than its initial deposited capital. Lastly, the maximum of protection level achieved by solve of an unlikely event when a broker goes bankrupt or fall under insolvency issues, the client and his funds are protected, by the Financial Services Compensation Scheme (FSCS) so the client receives funds back with an upper limit of GBP 50,000 per client.

FSCS compensation

The regular supervision tasks of FCA ensures follow of strictest demands, while every authorized entity report, confirm and maintain on a daily and monthly basis, respectively, otherwise, the authority will get involved and will check the performance in detail. In the event broker didn’t follow FCA handbook guidelines, it may cause further investigation of a case, with imposing of fines, while powers have already been seen loads of their announcements, heavy fines or even dismisses of the broker’s license. See below an example of some of the largest financial penalty in the history of £284,432,000 for forex failings. In addition, the FCA is able to ban financial product, firm or the particular asset manager, as well have the power to instruct firms to immediate action, modification or its revoke if necessary.

FCA fines Barclays

With all the strict regulatory guidelines, if a trader or investor still believes they are encountering unfair trading experience with the broker, they can file a complaint against the broker with the relative department. Firstly, the regulated brokers in place must have a procedure to resolve disputes and respond within a set time, however, you can always go further and submit a complaint to the Financial Ombudsman Service, known as claim handlers. In addition, read our step by step guideline how to a complaint an FCA regulated forex or CFD broker.

Submit the complaint about UK broker:

UK Financial Ombudsman Service

The benefits of trading with the FCA regulated Forex Brokers are at a glance, as the authority ensures strongly the broker’s responds, monitoring products, and other issues along with the compensation when necessary. Overall, the FCA made it in a scrupulous way by the sharp check on the firm, that the brokerage is computable to the successful prospective of operation, further market development and of course fair treatment of the traders. Therefore, FCA gained its highest consumers’ rankings, as the traders getting appropriate trading needs among market offering, unparalleled advice and knowledgeable behavior towards any occurred questions.

Moreover, the education and permanent support at FCA allows to find out about customer rights and financial advice, offers to complain, report a scam or unauthorized firm. And provides a guideline on how to avoid scams, with the comprehensive Avoid listing up-to-date.

FCA consumer organizations service:

FCA Consumer Support

List of FCA Regulated Forex Brokers

The trader should carefully search for information about FCA forex broker license directly through an official site, which will appear on the Financial Services Register.

Moreover, the regulated broker website at most cases shows its FCA register number, yet confirm its statement at official source as well, due to numerous clone and fraud firms that use register number to pretend official.

FCA Brokers register

In addition, always check FCA Brokers Reviews, in the instance the full list of the UK regulated brokers’ list at our website currently includes over 80 FCA Regulated Brokers, and growing, while the total number of licensed ASIC Regulated Forex Brokers exceeds 340.

Conclusion on FCA regulation

The UK as one of the most respected and known financial centers that deliver strong economic figures throughout history, as well as stable political positions and influence on international markets, keeps the excellent level of a regulatory system.

In fact, FCA is one of the most respected trading industry authorities that establish the highest protective tools and keeps market integrity through its strong influence and monitor of the situation. The FCA enhanced their responsibilities to the financial and traders sectors by transparent ways the agency determines policies and carries its supervision functions. Also, as the main message of FCA is to only cooperate with authorized firms, the authority supports vast of data on how to make the best practice and avoid frauds. Read more about how Forex Trading Scam work at our article by the link.

Overall, some of the most reputable brokerages and regulated firms indeed regulated by FCA, while the status of FCA regulated Forex Broker the trader or investor can trade assured of a fair and effective deal and an accurate follow of obligations towards the clients’ protection with the legit regime itself.

Forex Trading: Why Avoid Brokers from St Vincent & The Grenadines

SVG FSA Regulator

Introduction to SVG FSA

📚 Formed:November 12, 2012
🏦 Jurisdiction: St. Vincent and the Grenadines
🏢 Headquarters:Kingstown
🛡️ Is SVG Broker Offshore or Top-tier Jurisdiction?Offshore
🔒 Is Offshore Broker safe to trade?No
⛔️ Type of License for Brokers to AvoidOffshore License/ No License

What is SVG FSA? 

St. Vincent & the Grenadines or SVG through increasing demand for the financial sector and offshore zones itself created the Financial Services Authority FSA with a responsibility to regulate non-bank, certain entities in the financial sector and control the international financial services industry.

  • SVG FSA was established November 2012, with a mission as the authority mentions on its official website – to develop, regulate and supervise St. Vincent and the Grenadines as a secure and competitive financial center in the international and the financial sector in accordance to best practices.
  • However, Forex Trading or Brokerage activity, which is the main topic in financial investment world also rapidly growing in its demand, does not have a solution of regulation of Forex, CFD and Binary Options in SVG.
  • The regulation or even licensing of the Forex business is not a part of the SVG FSA activity, as stated by the official warning.
  • “There are financial institutions out there that falsely claim they are registered or licensed in our jurisdiction. Their purpose for doing this is more than likely for illicit reasons and potential customers should be very cautious about conducting business with them. 
    FSA, St Vincent and the Grenadines. (Learn more about SVG FSA Function Role)
SVG FSA website

Is SVG Broker Scam or Safe? 

St Vincent and the Grenadines of SVG is an island in the Caribbean, which became quite a known location for its tax haven offering out of the international companies. St Vincent is indeed an attractive solution among financial companies and those businesses that for one reason or another choose to operate through an offshore company.

  • Since the jurisdiction itself offers easy-to-achieve setup demands through very quick, simplified process, while the firm does not necessarily need to operate an office in SVG, allow to maintain low initial capitals, no strict establishment rules or requirements, yet allows running a global business.
  • Furthermore, there is no sharp regulation or overseeing of the company operation implemented and Forex Business itself is not regulated, see snapshot from FSA SVG website below. 
  • Therefore, Forex business established in SVG is not well regulated in St Vincent, the SVG broker can run its activity, provide trading environments and accept Forex payments through credit cards, but is not overseen well in comparison to the top tier authorities, for this reason is not safe entough to trade or recommended to sign in. See our list of offshore and Unregulated Broker to Avoid, or Read more about Why Trade with FCA UK Brokers
SVG FSA Forex Alert

Why not trade with an SVG FSA Registered broker?

Considering the fact that SVG FSA enables low set up requirements with No business planning, No management interview or check of the company background. While the registered company operates with No Handbook, No Regulatory Reporting, No Impose of Fines in case of its malicious service and there is No any protection implied alike Fund Segregation, Negative Balance Protection or Compensation in case of insolvency. We can not conclude SVG Broker as safe to trade and better advise to avoid them. 

  • Therefore, apart from beautiful seaside beaches, the SVG with its offshore environment became a known hub of financial firms, while the legal environment can be quite loose towards the Forex business and brokerage itself. For better understanding check out the UK FCA Authority and its sharp regulation, overseeing of the brokerages and heavy fines in case of the company fail to obligations, see snapshot of UK FSCS protection applied too, while SVG Brokers apply none. 
FCA regulator

SVG Registration Requirements

Obviously, the investment and trading service is a popular trend, however in order not to fall under the scams and frauds, which are in fact growing daily, you should carefully choose a company before any funding is done. Forex and derivatives trading as a decentralized market can be a highly risky opportunity if the company delivers trading service without strict overseeing from the industry authority.

  • For that reason, we always advise choosing among the most reputable and of course heavily regulated brokers and to protect yourself from potential scammers. For instance, as an example learn and compare eToro offering and heavy regulation.
  • To get more knowledge, you can also read our article Forex Trading Scams and know how to protect yourself, with a deeper understanding of how frauds work.
  • In addition, most often an offshore broker alike SVG Brokers are associated with other companies while the offering varies slightly from the majority of frauds, yet the result is equally disappointing. The major concern about lack of regulatory oversight places SVG companies much under the recommended safety line, in essence, you only get the honest word of the company.

Complaints and scams to SVG FSA

We have received many user reviews, while the majority of them are obviously negative. What are the Complaints about? Mainly – Rejects client withdrawal, meaning a client who puts money cannot get profits or funds back. See popular Broker – Olymp Trade and read comments from real traders below.

  • In case you have negative scenario or behavior from the Broker in SVG, SVG FSA will not be able to assist through customer protection, to advise or take action further, the trader stands completely alone at that point. Therefore, there is no way to complain or receive any support from the authority. See snapshot from SVG FSA about risks involved. 
SVG complaints and support

Fake Trading Brokers

In addition, there are many fake brokers stating their address, regulation or registration at SVG, while pretending to be a legit firm but in fact are not.

  • SVG authority recognized the risky potential and just warn traders that in case of trading with an unlicensed and unregulated company the trader using the services at his own risk. As an unlicensed or offshore broker most often not subject to any supervision of practice or regulatory laws the company may easily mislead or false any information or the service providing itself.

The only way the SVG FSA tries its attempt to protect clients is to place an advise and list entities at the alert area as of the false license claims in the SVG jurisdiction, yet the protection “actions” are ending just by that. SVG FSA – Investor Alerts 

SVG FSA Investor Alert

List of St Vincent and the Grenadines Forex Brokers

Currently, we have reviewed many Forex Brokers from St. Vincent and the Grenadines, while none of them were included into the list of trusted or brokers with a recommendation of safe trading. The only companies that may be trusted are those brokerages that hold additional licenses from reputable authorities and at the same time run business in SVG for international access, check GO Markets Broker.

  • We suggest check on the broker carefully before any sign in is done, revise the broker’s regulation status, its authorization claims, news and reputation by reading reviews and checking on the legit documentation.
  • As well, you can find and verify company you concerned about at our regularly updated list of Brokers to avoid or submit your inquiry. Then if you found a broker at the list you better stay away from any cooperation or trading with them at all cost, as listing consists of mainly non-regulated and offshore firms which are not recommended or safe. 

Conclusion on SVG regulation

The final thoughts conclude that traders and investors should ensure a clear understanding of the procedures and risks involved while the company or another offering the forex trading opportunity and not properly licensed, or in other words is offshore Broker like SVG Brokers are. 

  • As of the recent growth of international trend of Forex, trading investors are urged to exercise caution before any sign in or acceptance of the offering. Any broker declares its regulation by FSA SVG, in substance, made a false claim. As it became clear now, why the SVG incorporated firms disclose information on the risks, in particular, the possibilities of loss, therefore we recommend avoiding offering from the brokers mentioning their SVG FCA regulated status.

In order to become a trustable company in providing financial and trading service, the Broker should be sharply regulated and retain a sufficient level of reputation through its operational history. Definitely, it is not a gaining point towards trust to the brokerage that is an offshore-based company and was established with a low registration requirement while none of the protective principles followed.

The security of funds always stands first, therefore, you better consider brokerages from other jurisdictions that maintain a sustainable level of financial and investment services and forex trading in particular through a protective set of rules. For this, we advise finding a broker with licenses from top-tier authorities, such as FCA, ASIC, or CySEC. Sign in only with trustworthy brokers, such as FP MarketsHFM, or recommended brokers by the link.  

HFM Introduces a New App Version

HFM New App Version

An all-around trading experience is now at the client’s reach with the new feature-packed mobile trading application from an award-winning broker HFM.

To enhance its offerings further and satisfy the needs and expectations of its constantly growing client base, Global multi-asset broker HFM has developed a new mobile application. The app is available for both Android and iOS users. Combining HFM’s industry-leading conditions and cutting-edge technology, the app takes the trading experience to another height.

It is now possible for clients to have access to their accounts, trading CFDs on more than 1200 assets immediately on the app. The award-winning broker HFM enables simple and ultra-fast trade execution and customizes the trading with three trading options, that is Amounts, Lots, or Units. Moreover, traders have access to a detailed history of each trade. This allows them to analyze their prior performance, monitor their positions 24/7, and enjoy trading from any spot.

HFM spokesperson proudly announced that the newly released HFM mobile trading app is a result of months of development and painstaking testing. According to his words, their aim is to make mobile trading possibly intuitive and practicable, enabling traders to enter global financial markets effortlessly and enjoy smooth trading.

Real-time prices, automatic market notifications, advanced charting functionality, powerful trading tools, and market analysis can all be found on HFM’s mobile application. Still, HFM doesn’t stop here and endeavors to introduce even more updates and functionalities directed at enhancing user experience and satisfying the expectations for over 3.5 million live accounts all over the world.

To learn more about the newly introduced features, visit the HFM App page.

About HFM

HFM, known as HotForex and a brand name of HF Markets Group, is an internationally acclaimed multi-asset broker. It has acquired more than 60 coveted industry awards, being the choice of over 3.5 million live accounts all over the world. Among the company’s offerings are a wide variety of account types, innovative products, cutting-edge platforms, tools, and educational resources. HFM also offers outstanding customer service and exceptional trading conditions.

Orbex Successfully Exhibits at the Dubai Forex Expo 2022 as Titanium Sponsor

Orbex Exhibition at the Dubai Forex Expo 2022

International multi-regulated broker Orbex emerged as one of the most outstanding exhibitors at the 2022 Dubai Forex Expo, which took place at the World Trade Center from October 19 to 20. There Orbex had the chance of displaying its trading offerings and goods at the biggest yearly trading exhibition in the Middle East as one of this year’s Titanium sponsors.

Over 120 international and regional fintech companies participated in the event which lasted two days and that took place in the center of one of the UAE’s most important financial hubs and drew over 10,000 attendees. On stage, more than 80 speakers and business leaders shared their knowledge and expertise with visitors at the exhibition. Among them were Orbex’s representatives and leading market analysts who presented their exclusive “2023 Q1 Market Outlook” projections and participated in a panel discussion on “Asset Classes and Central Banks”.

Orbex’s delegation was able to meet with hundreds of partners and traders and showcase the company’s products, B2C and B2B, and services at their eye-catching Titanium stand at Booth #20. The Orbex stand enjoyed a rather impressive turnout, as the broker chose to unveil its new Affiliation program exclusively at the expo and hosted a series of meetings, prize draws and VIP events to engage with their clients, partners, and expo attendees.

At a special award ceremony that took place at the conclusion of the Dubai Forex Expo, Orbex was also awarded the title of “Best FX Educational Broker in MENA 2022” in recognition of its long-standing dedication to offering clients quality research tools and teaching in both English and Arabic. It’s also important to note that earlier this year, the renowned fintech publication and awarding body World Finance recognized Orbex’s Research team as the “Best Forex Research and Education Provider 2022”.

You can watch some of the highlights from Orbex’s latest exhibition at the Dubai Forex Expo 2022 here.

About Orbex

Orbex is a leading global investment services firm offering award-winning forex and CFD trading services at some of the most competitive conditions. Since its inception in 2011, Orbex has committed to providing access to first-in-class trading and investing solutions that are backed by leading education, expert research tools and the ongoing support needed to assist clients in navigating the global financial markets.

Orbex Introduces New Affiliate Program

Orbex New Affiliate Program

Global multi-regulated financial services broker Orbex has announced the launch of its new forex Affiliate Program featuring custom CPA deals of up to $1,000 commission per qualifying client referral.

Orbex’s revamped Affiliate Program reportedly combines one of the highest-paying CPA commission structures in the industry with expert support, cutting-edge reporting tools, and added ways to earn. The new CPA model is intended to provide Orbex Affiliates with a consistent flow of passive income as Orbex continues to grow and create waves in the FX and CFD industry.

A number of new services will be made accessible to Orbex Affiliates through the Cellxpert marketing platform, which enables users to serve ads and easily track their clickthrough and conversion rates. Access to a variety of branded marketing tools and high-converting funnels is also available through Orbex’s bespoke Cellxpert platform.

Designed to suit the needs and requirements of today’s FX Affiliates, Orbex’s latest partner scheme lists the following benefits:

  • Some of the highest CPA rates in the industry of up to $1000
  • Custom plans and flexible withdrawals with $0 fees
  • A vast array of promotional tools to aid in traffic conversion
  • Sub-affiliate earnings, sponsorship opportunities, and exclusive added rewards
  • A state-of-the-art Affiliate panel for advanced ad serving, tracking, and reporting

Orbex Chief Marketing Officer, Drosoula Hadjisavva commented on the launch of the new Orbex Affiliate program:

“Partner marketing has quickly become the table stakes for business success in the financial services industry and beyond, as many consumers have come to distrust traditional advertising. In response, we here at Orbex, have long recognized the value in building robust partner ecosystems and the impact partners have on the company’s ability to scale. Our latest affiliate program launch marks an important step in satisfying the requests we have been getting from partners and potential affiliates, wishing to promote Orbex to their audiences in exchange for a commission on sales generated. We’re excited to offer our valued affiliate partners the best workflow automation and remain committed to investing in digital transformation solutions as we go beyond business continuity requirements and into an extraordinary push for improved productivity.”

In addition to its new Affiliate program, Orbex continues to offer its offline IB partners a lucrative lifetime revenue share scheme. Orbex Introducing Brokers are also now able to benefit from Orbex’s increased CPA deals through sub-Affiliate partner referrals. To learn more about Orbex’s Affiliate and IB partner opportunities click here.

About Orbex

Orbex is a leading global investment services firm offering award-winning forex and CFD trading services at some of the most competitive conditions. Since its inception in 2011, Orbex has committed to providing access to first-in-class trading and investing solutions that are backed by leading education, expert research tools, and the ongoing support needed to assist clients in navigating the global financial markets.

Forex Trading: Why Avoid IFSC Brokers from Belize

IFSC Belize Regulator

Formed: January 1, 1999

Jurisdiction: Belize

Headquarters: Belize City


IFSC is responsible for licensing of the following:

  • International Business Companies (IBCs)
  • International Asset Protection and Management
  • Brokerage, Consultancy and Advisory Services in any financial services
  • Trading in Foreign Exchange, Financial Commodity-Based Derivatives and Other Securities
  • Money Transmission Services
  • Payment Processing Services
  • Money Brokering
  • Money Lending and Pawning
  • Money Exchange
  • Safe Custody Services


The financial services sector of Belize, in particular, international Forex and trading services companies, is a relative newcomer within the financial industry, yet recently expanded Belize economy to a world-recognized hub.

Belize as an English-speaking country in the heart of Central America obtained its independence in 1981 and since then approaches to diversify its portfolio through various opportunities to international investors and for instance included an attractive offering to firms operating financial services. Belize possibility, which is based on the offshore concept allows investors to engage in a variety of activities, obtain official status, run brokerage accounts, operate trading service, commission arrangements and other commercial transactions. Belize is also an active member of the Caribbean Financial Action Task Force (CFATF) that subscribes to its core principles to eradicate money laundering and to foster stability in the global financial system.

While developing and through its enlargement of potential, many online forex brokers used a Belizean IBC as a perfect opportunity to run international brokerage service and make authorized financial transactions. Therefore, through its growing demand and necessity, Belize established independent local authority with a purpose to carry out financial regulation responsibilities including licensing of financial market participants and exchanges, and the supervision of their activities itself. The International Financial Service Commission or IFSC Belize started its operation in 1999 as a government agency to protect the reputation of Belize as an offshore financial center.

IFSC being a self-regulatory body operates through a set of international rules is in charge of licensing of all international financial service providers through a set of requirements that designed to ensure compliance with international best practices. The scope of responsibilities includes promotion and protection of Belize as it became an important international financial center, through regulation and supervision of international financial service providers. In addition, IFSC powered to impose administrative sanctions and disciplinary penalties for a brokerage or investment firms that come under the relevant Belize financial acts.

Why not trade with an IFSC registered broker?

Belize as a gorgeous tourist destination, while also is tax heaven with a zero tax structure that established its own regulation for financial investment and Forex firms licensing due to high demand and necessity of regulation. Ever since Belize became a known offshore zone and Forex hub, as destination attracted thousands of brokerages seeking for an opportunity to be legitimate firm, yet to skip complicated and costly establish procedures.

Therefore, development of perfect business environment attracted numerous enthusiasts and made Belize as an investor-friendly economy that enables business growth, however those firms and individuals that are seeking for an opportunity to enable easy fraud process were allured as well. Definitely, it’s a very profitable chance to open brokerage firm in a destination that saving establishment costs and allows to enjoy almost unlimited profits.

So getting back to the point, why an offshore broker or investment firm is not a recommended option to any trader, let us look closed what are the requirements to become a licensed IFSC company. First of all the firm should maintain its minimum operating capital depending on the service from $10,000 to $100,000, then to pay international financial service provider fee of $1,000 only! The annual license fee varies on various kinds of financial services that also include Forex, trading securities, derivatives, and financial instruments, while a fee is either $2,500, $5,000, $25,000.

Yet, if to compare to reputable regulatory supervision, these rates are extremely low, while the costs of setting up considered to be one of the lowest worldwide. Meaning, the company is not able to operate or guarantee the safest trading environment with such a lack of capital, even more, brings uncertainty to brokers performance. Moreover, there is no strict requirement for a company to segregate clients funds from the company ones, a meaning broker can use trader’s investment for their own purposes, like heavy advertising as an example. The broker is not either shall establish a physical branch or office in a destination, while the directors and management would be only slightly checked in terms of their proficiency.

In regards to audit and control of how the Forex broker or company operates, the IFSC does not implement comprehensive reporting demand, so the company can easily hide its true nature of performance.

Although IFSC makes its best to regulate and restrict firms by impose of fines, most of IFSC brokers getting out of unlikely situation quite easy, as fewer standards allow to enjoy almost free operation in financial markets.

In comparison to trusted authorities in the EU, the US or other jurisdictions, the regulated broker catered and demanded to detail commitment in regards to trader protection, while IFSC companies still operate with an environment sufficiently to fraudulent activities.

Complaints and scams

While the main duties of the IFSC, concerns about the provision of effective services and registration of international companies, the authorization process and accepts complaints from foreign traders. The trader should firstly contact his service provider and try to resolve an issue through the company, yet in case you are not satisfied with the handling result to move further and contact the authority. The transfer of the complaint to IFSC should include detailed data with information on the company complaining, as well as evidence documentation.

Submit a complaint by the contact email:

Based on the findings, IFSC may impose a statement to the company with a requirement of compensation. The IFSC is not responsible for further compensation, therefore quite often the dishonest brokers disappeared or didn’t take stated action, as the authority can do nothing about it. Means, the trader will remain on his own to resolve issue further and can only submit a case to the court for appeal.

The IFSC adheres to promote the development of the Belize financial service industry and due to numerous frauds and high activity of scams specifically from an offshore zone, the authority submits from time to time warnings against slippery brokerages and other protective information. To alert the public and financial sector whether such an offering appears in the market IFSC post notice that includes only those firms that are not registered under the IFSC or obviously false certification or licenses. Means the authority didn’t check on the firm before it establishes and can’t support by any data how they operate. However, due to the lack of Belize regulation requirements itself, and its set of standards which is unfortunately very far comparing to the trusted industry regulators, the statements rather not convincing and effectiveness remains questionable.

IFSC Warning Notices:

List of Belize Forex Brokers:

About 50 Belize Forex Brokers were reviewed by us, in fact, most of them appeared in the list of Brokers to avoid as the implemented safety measures do not allow us to trust them. Thus we do not recommend trading with them and advise to consider only those that hold additional licenses or regulated by trusted jurisdictions.

The lists of IFSC licensed service providers are regularly updated through an official website and available for verification at all times.

“Investors and other users are warned not to deal with any entity whose name does not appear on the list for the service or business in question. It should also be noted that under the laws of Belize, a separate license is required for each kind of service or activity.”


Forex trading witnessed thousands of scams and numerous malpractices that were taken by unethical brokers, while in fact the majority of them indeed located in an offshore zone and known heavens with zero taxes. The most dishonest ones always seeking the easiest way to establish allegedly legal firm, through a license that does not implement a strict regulation or reporting. The fraudulent activities carried out in a most sophisticated way while it’s been hard to detect from where the offering coming from. Therefore, traders should always be aware of these firms that corrupted an image of Forex trading and trust to only well-regulated brokers incorporated and heavily regulated by the known authorities like UK’s FCA, Australian ASIC and similar.

Considering the fact that IFSC has not implemented the strictest standardization that may guarantee trustable provision of Forex or trading service delivery, we do not recommend choosing among IFSC companies. Although, a newly implemented increase of the capital requirement definitely assists in a further decrease of new suspicious brokerages establish and those firms that seeking for an easy solution to skip regulation. However, currently, there are international brokers that do hold multiple licenses, including IFSC one and are regulated by other jurisdictions, which allows them to deliver an excellent environment for trading. Therefore, you should choose a broker and forex trading provider among existing testimonials and consider only those that are regulated. Check out our recent articles about ASIC, FCA or other authorities to see the difference between the implemented regulations.

Moneta Markets Enhances Copy Trading with ZuluTrade Integration

ZuluTrade is a major third-party copy trading platform. The broker is also offering copy trading services with DupliTrade.

Moneta Markets logo

Moneta Markets has expanded its social trading offerings by adding ZuluTrade to its trading platform, the broker announced on Friday. The latest integration came when Moneta already offers such services with Duplitrade, another popular third-party social trading platform.

“We have always intended to offer clients access to ZuluTrade, simply because it’s the largest automated peer 2 peer social trading platform out there. However, we wanted to ensure we were set up to really get the most out of it,” said David Bily, founder, and CEO of Moneta Markets.

The broker’s decision to integrate ZuluTrade came after it expanded its product range and also improved trading infrastructure and pricing.

Copy Trading Trend

Copy trading, which allows traders to copy the trading strategy of experts, has become very popular in the past decade. The industry is estimated to grow at an annual compounded rate of 7.8 percent and is expected to reach from $2.2 billion at the end of 2021 to $3.77 billion by 2028.


ZuluTrade is a very popular copy-trading platform that has partnered with dozens of brokers to enable them to introduce copy-trading services to their clients. The platform was founded in 2007 and was acquired by the Finvasia Group last December for an undisclosed sum, a deal that also included Greek-licensed broker, AAAFx.

Headquartered in Greece, ZuluTrade is now focused on expanding its global reach and is seeking new regulatory licenses. It is also pushing to add new capabilities to its existing social trading platform.

Moneta Markets

Moneta, established in 2020, recently came out of the Vantage umbrella to operate on its own. The broker gained a new regulatory license in Australia, while it is already regulated in South Africa and St. Vincent and the Grenadines.

Meanwhile, third-party trading platform providers have become cautious lately after Apple delisted two MetaTrader apps from the App Store, possibly in response to the usage of the platform by scammers. These third-party trading platforms are now hardly partnering with shady brokers who operate without a license or offshore approvals.

US Jobs Market Deteriorates, Investors Don’t Care

The recent data from the US jobs market disappointed market participants. However, they were ignored, and US equity markets continued to rip higher. So let’s take a quick look at some of the key indicators.

Initial Claims Trending Higher

Although the labor market is supposedly “too robust to be in recession,” anyone who bothers to look at higher frequency data will see that story disintegrating quickly as initial unemployment claims increased to 256k last week (worse than the 250k expected).
The 4-week average of new claims is currently at its highest level since November 2021, while continuing claims continue to stagnate.

US Jobs Market Chart
Source: Bloomberg

JOLTS Job Openings Disappoint

Additionally, there were fewer job opportunities in June than was previously thought.
According to the Job Openings and Labor Turnover Survey (JOLTS) by the Labor Department, there were 10.7 million open positions in the United States on the final day of June, which is less than what economists had projected and the lowest number since September. From the upwardly revised May total of 11.3 million, there was a decline of 605,000. Since reaching a record high in March, the number of openings has decreased each month.

Jobs in the retail trade accounted for more than half of the loss (-343,000). Wholesale trade (-82,000) and state and local government education also significantly reduced (-62,000). On the other hand, openings in the health and education sectors grew by 99,000.

4.24 million people left their jobs, which is the fewest since October. Construction had a decline in resignations (-51,000), while state and local government education saw a rise (+14,000).
The JOLTS report painted an almost uncomfortably strong picture of the US labor market up until May. Still, it finally cracked in June, with job openings falling at the second-fastest rate ever (only the Covid crash months were worse). Since the US is now technically in a recession, we anticipate that July and the following months will be much worse.

JOLTS Job Openings Chart
Source: Bloomberg

Non-farm Payrolls Due

The non-farm payroll data on Friday will also reveal whether businesses continued to hire in July after adding 372,000 positions in June or whether economic uncertainty caused them to cut down. The official consensus is at 250,000 new jobs in July, while the unemployment rate is expected to stay at 3.6%.
Volatility will indeed be elevated following the data, with investors repricing the hawkish expectations of monetary policy; despite no assurances by the Fed, it has changed its plans to hike rates.