CySEC Regulated Forex Brokers with the Highest Leverage
Forex brokers in Cyprus are regulated by the well-known Cyprus Securities and Exchange Commission (CySEC). However, since a new regulation (which is ESMA or European Securities and Markets Commission) is introduced, there are no high leverage forex brokers left in Cyprus.
According to the ESMA rules, forex brokers can offer a maximum leverage of 1:30 on major forex pairs to clients categorized as “non-professional” traders. This restriction is aimed to check the broker’s requirements for being a “professional,” but this usually requires a trading account of significant size. Nevertheless, some CySEC regulated brokers who are registered under other offshore jurisdictions can still offer the flexibility of trading with high leverage.
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What is the structure of CySEC?
CySEC is run by a board of five people, along with two full-time staff members, a chairman, and a vice chairman. On the highest part of that, the Central Bank of Cyprus is represented by a board member who does not have a vote. The government is also attached to CySEC, in which the Minister of Finance makes suggestions to the Ministerial Council about who should be on the boards of directors.
Continue Reading at A Guide to Cyprus Securities and Exchange Commission (CySEC)
What is the responsibilities of CySEC?
CySEC (Cyprus Securities and Exchange Commission) is an independent public supervisory authority responsible for the following:
- overseeing the investment services market, transferable securities transactions, and the collective investment and asset management sector
- regulates firms that provide administrative services
- market surveillance and investigations
Continue Reading at 6 Best Forex Broker Regulators in the World
How does high leverage affect trader's psychology?
Leverage disguises the real amount of funds in our account and any changes on it. In return, it might dilute the trader's perception regarding how much money they have. Using high leverage is not forbidden, but it is not advised when the trader has lack of self discipline.
Continue Reading at Traps Hidden Under Forex Leverage And Margin
How much leverage is categorized as too high?
When a market maker offers a leverage of up to thousands and even reaches 1:2000, instead of helping you, it may plunge your trading account to a very quick loss.
Continue Reading at Forex Broker Cheats and How to Anticipate Them
