Assess the instant order execution in STP mode, absence of dealers and requotes.
CySEC (Cyprus Securities and Exchange Commission) is a financial regulator of the Republic of Cyprus established in 2001 with “The Cyprus Securities and Exchange Commission” law enactment. In 2004, Cyprus joined the European Union (EU) and received the right to issue licenses to companies carrying out financial activities in the territory of the EU. CySEC license confirms that all the procedures of the financial regulator are observed and all the requirements are met and allows companies to render services referring to accepting and conveying clients’ orders as well as provide orders execution on behalf of clients in 169 countries.
The purpose of CySEC is to provide the licensing, regulation, and control of brokers, brokerage companies, dealing centers, and operations carried out on the stock and currency exchange as well as development and implementation of regulations and laws that make Cyprus financial market more reliable and transparent.
RoboForex (CY) Ltd, a member of the RoboForex Group, received license No. 191/13 of Cyprus Securities and Exchange Commission (CySEC).
Regulator website - Cyprus Securities and Exchange Commission
Investor Compensation Fund (ICF) of Cyprus is an organization, which provides insured clients of the companies registered in CySEC with compensation payments, if the companies aren't able to pay compensations on their own. In this cases, the compensation may be up to 20,000 euros for one client, regardless how many trading accounts the client has, their base currencies, and the place where the investment service is provided. In case the claimant disagrees with the amount of the compensation, he has the right to appeal to CySEC justifying the sum of the compensation within ten days from receiving the relevant notification.
The Fund is obliged to compensate each claimant within three months of dispatching to CySEC the minutes with the specified sum of the compensation, if the sum is recognized as justifiable.
Purpose of the fund is to provide the clients with compensation payments in case one of the fund members is unable to fulfil its obligations.
RoboForex (CY) Ltd, affiliated with the RoboForex Group, is an official member of Investor Compensation Fund (ICF) of Cyprus.
FSPR (Financial Service Providers Register) is a public e-register of all the providers of financial services stored in Registrar of Financial Service Providers. All the individuals and companies carrying out financial activities in the territory of New Zealand shall be registered in this Register. The Register includes companies engaged in brokerage, crediting, and insurance activities as well as providing banking services. Brokers willing to become FSPR members shall undergo background check. Those who render services to individual clients join the standard dispute resolution scheme. All the information about companies entered in Register is published on the organization website and is publicly available.
The purpose of FSPR is to provide a complete list of companies rendering financial services on the market of New Zealand and, thus, to increase transparency of the regional financial sector. FSPS also implements special measures to detect and prevent money laundering and financial terrorism.
RoboForex is in the Register of FSPR under No. FSP246525.
Regulator website - Financial Service Providers Register
FSCL (Financial Services Complaints Ltd.) is an independent nonprofit organization established in New Zealand in 2008. The organization is financed by entry and annual fees paid by its member companies. Disputes are resolved in compliance with the standard scheme called "External Dispute Resolution Scheme". The organization accept only applications of FSCL member companies with the claimed amount of no more than 200 000 USD. All the participants of the dispute have to abide by Commission decisions.
The purpose of FSCL is the resolution of conflicts. Disputes resolution scheme in FSCL encompasses two stages. At the first stage, the organization is trying to find a compromise solution that suits both parties. At the second stage, if a compromise solution has not been found, FSCL representatives make their own final decision.
RoboForex is a full-fledged member of FSCL with Membership number 4148.
Regulator website - Financial Services Complaints Ltd
The International Financial Commission is an independent organization that has been engaged in the resolution of disputable issues between traders and brokerage companies for more than 50 years. The Commission has an impressive compensation fund and consists of experts on brokerage activities from all over the world. Their extensive experience in Forex, professional reputation, and legal literacy allow finding mutually acceptable solutions concerning any controversial issues. The decisions of the Commission are binding decisions, i.e. all the participants of the situation should follow them.
The purpose of the Commission is the alternative pretrial resolution of conflicts arose between its participants and their clients. One may submit an application to the Financial Commission in Russian, English, Spanish, and Chinese. Application response time is 7 days.
RoboForex is a full-fledged member of the Financial Commission.
Regulator website - The Financial Commission