RoboForex Regulation The operations of RoboForex financial group are controlled by international regulatory authorities. RoboForex (CY) Ltd is a European broker regulated by the Cyprus Securities and Exchange Commission (CySEC). RoboForex (CY) Ltd is also an official member of the Cyprus Investor Compensation Fund (ICF). RoboTrade Ltd is an international regulated broker with the license of International Financial Services Commission Belize (IFSC Belize). CySEC CySEC (Cyprus Securities and Exchange Commission) is a financial regulator of the Republic of Cyprus established in 2001 with “The Cyprus Securities and Exchange Commission” law enactment. In 2004, Cyprus joined the European Union (EU) and received the right to issue licenses to companies carrying out financial activities in the territory of the EU. CySEC license confirms that all the procedures of the financial regulator are observed and all the requirements are met and allows companies to render services referring to accepting and conveying clients’ orders as well as provide orders execution on behalf of clients in 169 countries. The purpose of CySEC is to provide the licensing, regulation, and control of brokers, brokerage companies, dealing centers, and operations carried out on the stock and currency exchange as well as development and implementation of regulations and laws that make Cyprus financial market more reliable and transparent. RoboForex (CY) Ltd, a member of the RoboForex Group, received license No. 191/13 of Cyprus Securities and Exchange Commission (CySEC). Regulator website - Cyprus Securities and Exchange Commission CySEC Investor Compensation Fund (ICF) of Cyprus is an organization, which provides insured clients of the companies registered in CySEC with compensation payments, if the companies arent able to pay compensations on their own. In this cases, the compensation may be up to 20,000 euros for one client, regardless how many trading accounts the client has, their base currencies, and the place where the investment service is provided. In case the claimant disagrees with the amount of the compensation, he has the right to appeal to CySEC justifying the sum of the compensation within ten days from receiving the relevant notification. The Fund is obliged to compensate each claimant within three months of dispatching to CySEC the minutes with the specified sum of the compensation, if the sum is recognized as justifiable. Purpose of the fund is to provide the clients with compensation payments in case one of the fund members is unable to fulfil its obligations. RoboForex (CY) Ltd, affiliated with the RoboForex Group, is an official member of Investor Compensation Fund (ICF) of Cyprus. Financial Service Providers Register IFSC Belize (International Financial Services Commission Belize) is a Belizean regulator of the financial services market of the international level. The activity of IFSC is regulated by the Ministry of Belize Securities and International Financial Services Commission Act (IFSC Act). As the regulator of financial services market, IFSC issues licenses and conducts monitoring of financial services provided by the market players to guarantee that the licensees operate in the most efficient, transparent, and reliable way. The regulator ensures that only the most reliable and socially responsible companies receive the license to operate within Belize and beyond. IFSC Belize follows the international AML (Anti-money laundering) policy. RoboTrade Ltd has a special brokerage license IFSC Belize Trading in financial and commodity-based derivative instruments and other securities under the number IFSC/60/271/TS/14. Regulator website - International Financial Services Commission Belize The Financial Commission The International Financial Commission is an independent organization that has been engaged in the resolution of disputable issues between traders and brokerage companies for more than 50 years. The Commission has an impressive compensation fund and consists of experts on brokerage activities from all over the world. Their extensive experience in Forex, professional reputation, and legal literacy allow finding mutually acceptable solutions concerning any controversial issues. The decisions of the Commission are binding decisions, i.e. all the participants of the situation should follow them. The purpose of the Commission is the alternative pretrial resolution of conflicts arose between its participants and their clients. One may submit an application to the Financial Commission in Russian, English, Spanish, and Chinese. Application response time is 7 days. RoboForex is a full-fledged member of the Financial Commission. Regulator website - The Financial Commission
Posted on: Mon, 15 Dec 2014 02:24:03 +0000
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