Cyprus Securities and Exchange Commission ( CySEC ) is a government financial regulator in Cyprus, referred to as “the Cyprus Commission for securities and stock exchanges” . Forex brokers that are legal in the country of cyprus will be regulated by this regulatory body.
CySEC has the following responsibilities:
- To supervise and control Licensed Investment Services Companies, Collective Investment funds, investment consultants and mutual fund management companies.
- To supervise and control the operation of the Cyprus Stock Exchange and the transactions carried out in the Stock Exchange, its listed companies, brokers and brokerage firms.
- To impose administrative sanctions and disciplinary penalties to brokers, brokerage firms, investment consultants as well as to in any other legal or natural person whom fall under the provisions of the Stock Market legislation.
- To grant operation licences to investment firms, including investment consultants, brokerage firms and brokers.
- In a recent amendment to the Law governing CySEC and its responsibility it has received significant power over the entities that it regulates in that it may carry out investigations, enter premises and search as well as to share any findings with foreign regulators
How to verify a CySEC regulated IC Markets broker?
CySEC has a complete list of regulated forex brokerage companies on its website for everyone to access and confirm their licenses and regulations if needed. One of the brokers that have CySEC regulations is IC Markets. Users can go to the official CySEC website, you can write the broker name or IC Markets broker license in the search field. If you are still confused, you can go to this link