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Feb 21 |
Forex trading license, Cyprus, Can the paid Up Capital cover expenses?
Posted by on 21 February 2011 08:09 AM
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A Forex Trading Company in Cyprus needs to be licensed by the Cyprus Stock Exchange Commission to operate as a Cyprus Investment Firm (CIF) and provide foreign exchange services where these are connected to the provision of investment services. The type of services that will be offered by the Forex Trading Company is solely based on the type of CIF they would like to be. Typically other Forex Trading Companies apply for Reception and Transmission of Orders, Execution of Orders and Dealing on Own Account when they have their own trading platform however there are a few that also apply for Investment Advice and Portfolio Management. According to the Law the capital requirements are as follows: | |
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