Archives for 

All Forex Brokers Registered in Europe

 

  • About MiFID
    • MiFID (The Markets in Financial Instruments Directive) is the European Union law that provides harmonised regulation for investment services across the 31 member states of the European Economic Area (the 28 EU member states plus Iceland, Norway and Liechtenstein).
    • MiFID sets out a detailed framework for the legislation
    • MiFID must be followed by all countries in European Economic Area.
  • Contents of MiFID
    • Passport Principle: A firm regulated in a MiFID country can offer its services to residents of other European Economic Area countries.
      • Firms covered by MiFID will be authorised and regulated in their “home state” . Once a firm has been authorised, it will be able to use the MiFID passport to provide services to customers in other EU member states. These services will be regulated by the member state in their “home state”
    • Client categorisation
      • MiFID requires firms to categorise clients as “eligible counterparties”, professional clients or retail clients (these have increasing levels of protection). Clear procedures must be in place to categorise clients and assess their suitability for each type of investment product. That said, the appropriateness of any investment advice or suggested financial transaction must still be verified before being given.
    • Client order handling
      • MiFID has requirements relating to the information that needs to be captured when accepting client orders, ensuring that a firm is acting in a client’s best interests and as to how orders from different clients may be aggregated.
    • Pre-trade transparency
      • MiFID will require that operators of continuous order-matching systems must make aggregated order information on “liquid shares” available at the five best price levels on the buy and sell side; for quote-driven markets, the best bids and offers of market makers must be made available. (Note consideration is being given to extending these requirements to other financial instruments. Under Article 65(1) of Directive 2004/39/EC, the European Commission is due to submit a report to the European Parliament and to the Council on extending pre- and post-trade transparency requirements to transactions in financial instruments other than shares by October 2007.)
    • Post-trade transparency
      • MiFID will require firms to publish the price, volume and time of all trades in listed shares, even if executed outside of a regulated market, unless certain requirements are met to allow for deferred publication.
    • Best execution
      • MiFID will require that firms take all reasonable steps to obtain the best possible result in the execution of an order for a client. The best possible result is not limited to execution price but also includes cost, speed, likelihood of execution and likelihood of settlement and any other factors deemed relevant.
    • Systematic Internaliser
      • A Systematic Internaliser is a firm that executes orders from its clients against its own book or against orders from other clients. MiFID will treat Systematic Internalisers as mini-exchanges, hence, for example, they will be subject to pre-trade and post-trade transparency requirements (see above).

InstaForex

Average Ratings
Rating
Company: InstaTrade LLC; InstaTrade Investment Company Ltd.   Warning:January 13, 2015:  French AMF published a updated list of forex brokers that offer forex trading service in France without authorisation of AMF.  InstaForex is on the list.   June 9, 2014:  The Ontario Securities Commission warned against InstaForex, because  instaforex “is not registered to engage in the business of (i) trading in securities or (ii) […] Continue Reading →

Plus500

Average Ratings
Rating
Note:  1  ‘Your capital is at risk . Before deciding to trade CFD or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.’ .2. Plus500  only offer CFD Trading service. 3 You do not own or have any rights to the underlying assets. Please consider plus500’s Disclosure documents available on their website. Company: Plus500UK […] Continue Reading →

Dukascopy Bank SA

Average Ratings
Rating
Company: Dukascopy Trading Technologies Corp. Note: Dukascopy Bank SA (In Switzerland) is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.   Dukascopy Europe(in Latvia) is not regulated as a bank or a securities dealer  and is not regulated by FINMA.    Continue Reading →

Finexo

Average Ratings
RatingNot Rated
Company: Safecap Investments Ltd. Note:  2015-7-2:  Cysec fined Safecap Investments Ltd €168,000 “The Cyprus Securities and Exchange Commission (the “CySEC”) would like to inform the public that, at the meetings held on the 2nd March 2015 and on the 25th May 2015, decided to impose the total administrative fines of €168.000 to CIF Safecap Investments Ltd (‘’the Company’) for […] Continue Reading →