Cyprus-Forum.com

[Maximus]

Cysec is not a safer regulator just because it puts up with a bunch of cowboy forex and until recently binary brokerages. They’re here for tax and “EU” regulation, but everyone knows that half these firms would not have survived a day under a better regulator.

Can’t compare the regulation provided by an FCA with that of Cysec. As far as markets are concerned, there is no market in Cyprus. Thin liquidity, low volumes, a bunch of low cap stocks that still owe accounts from years before. It’s a joke.

This is a matter of opinion, some of the most reputable brokerage firms are registered and regulated under CySEC.

There have been and there exists cowboy firms under every regulator.

A European resident would not get the same protection under ASIC as they would under a EU or FCA regulated firm.

[DT.]

Cysec is not a safer regulator just because it puts up with a bunch of cowboy forex and until recently binary brokerages. They’re here for tax and “EU” regulation, but everyone knows that half these firms would not have survived a day under a better regulator.

Can’t compare the regulation provided by an FCA with that of Cysec. As far as markets are concerned, there is no market in Cyprus. Thin liquidity, low volumes, a bunch of low cap stocks that still owe accounts from years before. It’s a joke.

This is a matter of opinion, some of the most reputable brokerage firms are registered and regulated under CySEC.

There have been and there exists cowboy firms under every regulator.

Name me one

[Maximus]

Here are two;

FxPro and FXTM,

[DT.]

Here are two;

FxPro and FXTM,

Lol...Russian owned forex brokers? These are some of the most reputable brokers in the world? A big marketing budget and a premiership does not make the reputation.

[Maximus]

Here are two;

FxPro and FXTM,

Lol...Russian owned forex brokers? These are some of the most reputable brokers in the world? A big marketing budget and a premiership does not make the reputation.

They may be Russian owned but what is your argument for them not being Cypriot Investment Firms regulated under CySEC? Their head offices are in Limassol. They are Cypriot investment firms.

What does make a reputable brokerage in your opinion then?

Is it a safe and secure trading environment, with fair competitive pricing where you can withdraw your money at any time? Right!

Nothing do do with a marketing budget and these two company's provide that.

[DT.]

Here are two;

FxPro and FXTM,

Lol...Russian owned forex brokers? These are some of the most reputable brokers in the world? A big marketing budget and a premiership does not make the reputation.

They may be Russian owned but what is your argument for them not being Cypriot Investment Firms regulated under CySEC? Their head offices are in Limassol. They are Cypriot investment firms.

What does make a reputable brokerage in your opinion then?

Is it a safe and secure trading environment, with fair competitive pricing where you can withdraw your money at any time? Right!

Nothing do do with a marketing budget and these two company provide that.

Listen, No offense but I stopped listening the moment you listed forex brokers as reputable brokers...don’t even need the jurisdiction to argue that one.

[Maximus]

Here are two;

FxPro and FXTM,

Lol...Russian owned forex brokers? These are some of the most reputable brokers in the world? A big marketing budget and a premiership does not make the reputation.

They may be Russian owned but what is your argument for them not being Cypriot Investment Firms regulated under CySEC? Their head offices are in Limassol. They are Cypriot investment firms.

What does make a reputable brokerage in your opinion then?

Is it a safe and secure trading environment, with fair competitive pricing where you can withdraw your money at any time? Right!

Nothing do do with a marketing budget and these two company provide that.

Listen, No offense but I stopped listening the moment you listed forex brokers as reputable brokers...don’t even need the jurisdiction to argue that one.

You have not made any counter arguments.

You have just ridiculed...

No offence to you but a 14 year old can do what you have done and it doesn't mean he wins the argument.

[Pyrpolizer]

This is not the point Paphitis,

The point is that the books can be "cooked" and it happens in every country and not only in Cyprus.

Counter arguments from then, that the law is enforced in those country's and not in Cyprus is an irrelevant (possibly false) diversion from the point.

Whenever I hear the "only in Cyprus" arguments, I know it is only a regurgitation of indoctrinated dogma's.

I don’t believe that is the case Maximus.

Usually when they fudge it it is to show less profit for tax. That is not cooking the books. You would have to be stupid go the other way, because that costs money in the form of tax.

Looking at your example. A company can purchase a software for 50,000 and take it off their bottom line and then write up a 50 k asset on its ledger which they can depreciate over time.

Like QANTAS does when they buy planes. Like every other company does with plant and equipment.

This isn’t fudging. It is perfectly legal too. And everything is accounted for in the Balance Sheet.

Authorities have no issue with this at all.

Not entirely true. First of all it depends how high the corporate tax is. In Cyprus it's 20% and if profits are re-invested they are tax free. For companies that are already in the Cyprus Stock exchange (CSE) cooking the books is extremely difficult if not impossible, because especially for those companies there's too much control from the CSE itself.

What happened here was the cooking of the books with which they applied to join the CSF. Companies that were not doing so well were presented as profitable, as well as having prospects. No matter how much tax they would pay for presenting such a "nice" picture to potential investors, they would make up for it hundreds of times from the selling price of their otherwise over valued shares.

[DT.]

Here are two;

FxPro and FXTM,

Lol...Russian owned forex brokers? These are some of the most reputable brokers in the world? A big marketing budget and a premiership does not make the reputation.

They may be Russian owned but what is your argument for them not being Cypriot Investment Firms regulated under CySEC? Their head offices are in Limassol. They are Cypriot investment firms.

What does make a reputable brokerage in your opinion then?

Is it a safe and secure trading environment, with fair competitive pricing where you can withdraw your money at any time? Right!

Nothing do do with a marketing budget and these two company provide that.

.

Listen, No offense but I stopped listening the moment you listed forex brokers as reputable brokers...don’t even need the jurisdiction to argue that one.

You have not made any counter arguments.

You have just ridiculed...

No offence to you but a 14 year old can do what you have done and it doesn't mean he wins the argument.

You’re right. You win the argument. Fxpro and fxtm are two of the most reputable brokerage firms in the world

[Maximus]

They are reputable and they are regulated by CySEC!