Licences and Regulation
Licence
FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number 078/07) and holds a cross border licence, authorising the company to provide investment services internationally.
Our company complies with the European Markets in Financial Instruments Directive (MiFID) and operates under the Cypriot Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
Professional Memberships
FxPro is a member of:
Investor Compensation Fund
FxPro is a member of the Investor Compensation Fund the objective of which is to secure any claims of covered clients against members of the Fund and to compensate covered clients for any claims arising from the malfunction by a member of the Fund to fulfil its obligations despite whether that obligation arises from legislation, the client agreement or from wrongdoing on the part of the member of the Fund.
Client Disclosures
In line with MiFID requirements and the legal framework in Cyprus, FxPro has adopted appropriate policies and procedures, in addition to the investor compensation fund, outlined in the following documents:
MiFID
The European Parliament and Council adopted the Directive 2004/39/EU, dated 21 April 2004, on Markets in Financial Instruments (the MiFID), which came into effect 1/11/2007 and deems to regulate the markets of financial instruments for provision of investment services and activities within the European Economic Area (EEA). The Directive has also been adopted in Cyprus (N144(I)/2007).
The European Union’s Markets in Financial Instruments Directive (MiFID) provides a harmonised regulatory regime for investment services within the European Economic Area. The main objectives of the Directive are to increase efficiency, enhance financial transparency, increase competition, and offer greater consumer protection in investment services.
One of the unique principles of MiFID is that an investment firm may freely provide its investment and ancillary services within the territory of another member state and/or a third country, provided that such services are covered by the investment firm’s authorisation.