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There are many reasons why the majority of European and international companies choose Cyprus as their base. Firstly, the low corporation rate within Europe, which attracts brokerage firms, then the location of the island and its membership in the EU, all goes with the availability of a solid financial background.
All that opportunities together open and an attractive possibility to offer trading services to citizens and residents of EEA, as well worldwide, while the financial service firm should be regulated and established in full compliance with the guidelines of MiFID (a cornerstone of the European regulation of financial activities).
Moreover, historically Cyprus took a path to be open for international businesses and is extremely welcoming for Forex business, check more historical breakdown through Wikipedia.
In addition, to strengthen investments and Forex industry Cyprus established governmental support through its established financial regulatory authority – CySEC (Cyprus Securities and Exchange Commission). Website: www.cysec.gov.cy , or read more about Cyprus Securities and Exchange Commission by the link.
CySEC before was a relatively new regulator, yet now sharpen its establishment controls over the firms and is very active by its inspections, application of regulatory terms but still remain open to new opportunities and attractive trading conditions. For this reason and the dynamic nature of the financial industry, we would advise you to follow official Twitter and stay alert with all the upcoming news
Cyprus being a popular destination for Forex brokers will offer you a great number of trading firms that comply with its CySEC laws and are regulated, also according to ESMA European rules. To narrow your selecting below we list some of the best-regarded and those brokers that gain the highest Scores.