A Prudently Drafted VistaBrokers Review Of A Cypriot Investment Firm (CIF)
Cyprus continues to be a preferred Forex broker destination among global Forex trading companies, with yet another Forex broker setting up its brokerage under the Cyprus Securities and Exchange Commission (CySEC). Vistabrokers is registered in the Cyprus as a Cypriot Investment Firm that is licensed and regulated by the CySEC to provide investment and money exchange related services to investors from all over the EU under the European Economic Area (EEA) passport. While European Forex brokers are able to provide their services to all EU member nations without any restrictions, Vistabrokers does mention its inability to serve clients from Belgium and France. The broker also prevents entertaining clients from the USA, Japan, Australia, North Korea, and other countries as deemed necessary by Vistabrokers from time to time. It does come as a surprise that Vista Brokers has categorically mentioned about legal issues with two of the major EU member nations, while the broker has the necessary licenses to continue as an EU Forex broker. Under normal circumstances, a regulatory sanction for non-compliance in EU is grounds for a temporary or permanent ban on the licenses. Nevertheless, VistaBrokers ensures the safety of your trading capital by depositing them in segregated accounts, which is kept away from the broker’s core operating capital. Vistabrokers holds at least €1 million in operating capital according to the regulatory requirements, which are further audited by several independent auditors and other agencies for maintaining a healthy capital adequacy ratio. Vistabrokers is also expected to comply with the various regulatory policies and guidelines that are specified in the European Markets in Financial Instruments Derivatives (MiFID), which creates a uniform framework of operations for all Forex brokers.