Will Cyprus allow Forex Trading without license?

[wosniak]

Need to know if Cyprus is a good place to incorporate for a unlicensed Forex Trading business?


Will you be able to open a bank account in Cyprus for the company there?

 

[JohnLocke]

No defiantly not. Cyprus has a regulatory body (CySec) which is monitoring all CIF compliant companies in Cyprus, if you conduct business which requires a license without a license you will get into real troubles.

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[wosniak]

So no Forex activity without license! Do you know what will happen if I do so?

 

[JohnLocke]

bose said:
So no Forex activity without license! Do you know what will happen if I do so?
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That is correct, if they find out they will close your company and you will properly get banned in one or another register by the Central bank of Cyprus.

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