Why do so many Forex Brokers love Cyprus?

[mamun13]

Sir,thank you for giving us an important article on better trading.This will help us to increase our trading skill as well as more profit earning skill.Before this ,i do not know the opportunity but now i am conscious about good
trading in Forex.

 

[Taha Nizam]

Well they do have a lot of methods to prevent the tax like oblique financial commitment into the another nation. I would absolutely consider how the individuals are going to be creating the cash. I don't think that it would be excellent if we cash how the individuals are going to be creating that way.

 

[ryuken]

I am sure that money laundering is the prime reason for the locations like this. Because no matter what the brokers admit there is always going to be money in the broker which has such sources and as the organization is getting paid, they are going to be having such customers who add money via that sources.

 

[budado]

I just update my accounts and get verified right now. Theirs a new rules that each year we need to reverified our accounts each year even though we are verified a previous year. But that's okay. As long I can earn good amount of money I will continue trading.

 

[ryuken]

I have seen that rule and i guess it was from the mayzus and the instaforex too. I am not sure if the instaforex is going to ask for them every year or not. but it would be good to see that they are working for the verification as well. but each year sending the same documents is painful and broing too.

 

[mohsin01]

previously I assume that the cost being regulated very low than other country but after read the article above, I found more logical reason. I guess its because of the Cyrus lack of restrictions in term of financial dealings. Lets face it. Cyrus is tax haven country so most business based on Cyrus.

 

[indieover]

Yeah I think because the broker are more free to operate and do their business without hassle and so it did work be more profitable for them and also for their clients or traders. So I think it's just wise for them to operate in Cyprus.

 

[ProTrader]

Guys, did you know about Cyprus bailout? it's hot topic later and I'm quite surprise since there have no discussion about it!

You can read it at: EU bailout for Cyprus will punish citizens, take 10% of their savings

I have trading account at few Cyprus based Forex brokers, most of them sent email mentioned that I should not worry about it, the money are safe but who know what may happen!

 

[budado]

Its already long over due. Cyrus has big debts for few years now and it should have done something when its still not this problematic. Cyrus just wait for the bubble to burst while doing nothing to increase its tax revenue. Its their own suicide. But I don't agree on Euro conditions for bailout. Because the conditions is worse than the bailout.

 

[martyn]

Maybe it's because the number of transactions or brokers that operate in Cyprus. I often check the location of the forex brokers who are well known, and most brokers have headquarters in Cyprus. and Cyprus also has an important role in terms of economic news related to forex trading.

 

[ryuken]

Cyprus is a good city for avoiding the tax if you are into the tax avoiding type of the thinking because these days it would be possible to see that forex has it's way to manage the money transfer and the cyprus is not going to be revealing the information for the same.

 

[budado]

Cyrus has good location. Its a country that uses euro and same time is not much connection to european as its an island and most investors and depositors usually come from Russia do like to invest their money in Cyprus. I do have a broker sites that is base in cyprus right now.

 

[ryuken]

I understood the power of cyprus during march of this year, when you see there used to be holiday and the money was pending. so that lead to manyissues in other countries as well. so cyprus is very serious location when it comes to forex and the money transfer for big corps.

 

[budado]

Right now Cyrpus is the center of Europe in term of money transaction. Unlike switzerland that is some how strict Cyrpus some how is investors friendly that results to investors coming in without fearing that they will be scrutinize to the letter. I do like to keep on trading and investing in broker sites that is located in Cyprus.

 

[naninov]

very good article knowledge... but i have my personal opinion regarding why so much brokers choose cyprus. i think brokers especially retailer brokers choose cyprus because of easy regulation to build company there with less fees... it is a good start place especially for new retailer broker which try to build forex broker company and try to competing others before it grows bigger in the future

 

[Orli]

what about the recent political and economic situation in Cyprus, mainly the situation with the banks? Do you guys think it will change the "location" and preference of Cyprus of many brokers?

 

[ryuken]

I don't think anyone needs to change the location from cyprus because the money wise the location is good and as you cans ee the cyprus is one of the good market to fall into. I just don't consider the cyprus to be in better position than what they are doing. just concerned however after the fall of liberty reserve.

 

[budado]

Its because some how the regulation is not that strict and the profitability or earning chance is really much better if not good compare to other european countries. I do want to sustain and maintain my account in forex for good and this is the main reason why I like to trade and make some profit.

 

[ryuken]

these days even the cyprus is going to be strict beccause of the US arresting teh LR owner. that is why the withdrawals to the US and the asia are going to be closed by many of the cyrpus basis of the forex. that is why we have to understand how the issues are going to be managed.

 

[sindarin]

Tax Haven dude , that place is full of love for something called "grey thing" and that place could be considered as "grey area", and the law there isn't like in US or other Big Countries, and that is why many brokers especially that act as a bookie in forex, then they will love this place which become the profitable place for them.