CySEC asserted that they have no restitution powers. Any disputes against Cyprus Investment Firms (companies licensed by CySEC) in which investors want to claim damages, should be addressed to the Financial Ombudsman.

The number of Cyprus-regulated forex brokers that extend their market to Asia has been increasing for some time. For Asian traders, Cyprus-regulated brokers are known to have comparatively no-fuss terms and conditions, although they may be dubious at times. However, there are few that know what is exactly a Cyprus regulation entails for forex brokers, particularly in cases of damage complaints. Probably in relation to this, the Cyprus Securities and Exchange Commission (CySEC) launched a specific announcement yesterday (22/10).

cyprus cysec submit claims

In the announcement, CySEC asserted that they has no restitution powers. Because of that, any complaints submitted to CYSEC are taken into consideration in the performance of its supervisory mandate. While any disputes against Cyprus Investment Firms (companies licensed by CySEC) in which investors want to claim damages, should be addressed to the Financial Ombudsman.

See also: List of Forex Brokers Regulated by CySEC

And where do the Financial Ombudsman can be located? Here is the Financial Ombudsman's contact details, as mentioned in CySEC's announcement:

Address: 13 Lord Byron Avenue, 1096 NICOSIA
Phone: 22848900 (main number)
Fax: 22660584, 22660118
E-mail:

  • Complaints: complaints@financialombudsman.gov.cy
  • Financial Ombudsman: fin.ombudsman@financialombudsman.gov.cy
  • Website: www.financialombudsman.gov.cy