Licenses and Regulations
Forex24 is a brand owned and operated by Lydya Financial Ltd, a Cyprus Investment Firm (CIF) regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 300/16 and Company registration number HE334292.Read More
The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity.
CySEC aims to oversee and control the operation of financial exchange markets and the transactions performed within those markets. CySEC may
- Supervise those who issue securities and list them on the Cyprus Stock Exchange
- Inspect brokers, companies, investment consultants and mutual fund management companies
- Issue licenses to operate to brokers, brokerage firms, investment firms and consultants.
- Revoke licenses to operate as and when necessary.
- Impose punitive sanctions on investment consultants, brokers and any other body which fall under the authority of CySEC
Lydya Financial Ltd is licensed by CySEC to offer the following Investment, Ancillary Services and Cross Border Services to Member States: Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, The Netherlands, United Kingdom
Lydya Financial Ltd. (CIF license number 300/16), is regulated and licensed under the Cyprus Securities and Exchange Commission (CYSEC) to provide the following investment services in relation to the financial instruments stated further below:
- Reception and Transmission of orders in relation to one or more Financial Instruments.
- Execution of Orders.
- Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management.
- Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.
- Foreign exchange services where these are connected to the provision of investment services.
EU Directives, Regulation & Memberships
Markets in Financial Instruments Directive II (MiFID II) & Markets in Financial Instruments Regulation (MiFIR)
The Markets in Financial Instruments MiFID II directive (Directive 2014/65/EU) came into effect on 01/2018 with the aim of regulating the markets of financial instruments and the provision of investment services and activities within the European Economic Area (EEA). The Directive was adopted in Cyprus through the law which provides for the provision of investment services, the exercise of investment activities, the operation of regulated markets and other related matters (Law 87(I)/2017)
The key objectives of the European Union’s Markets in Financial Instruments Directive (MiFID II) are: to improve levels of efficiency, to increase financial transparency, to promote competition and to effectively protect consumers. MiFID II also allows investment firms to provide investment and ancillary services within the territory of another member state and/or a third country, provided that such services are covered by the investment firms.
Investor Compensation Fund (ICF)
Lydya Financial Ltd is a member of the Investor Compensation Fund (ICF), a scheme which serves to protect eligible retail clients by paying compensation in the event that a company fails to reimburse funds and/ or financial instruments due to financial issues, as applicable.
Lydya Financial Ltd is authorized to provide Investment and Ancillary Services to the following countries:
Financial Conduct Authority
Registration No: 782501
Federal Financial Supervisory Authority
Registration No: 2017/1349943
Autorité des marchés financiers
Registration No: 70562
Commissione Nazionale per le Società e la Borsa
Registration No: 4624
Comisión Nacional del Mercado de Valores
Registration No: 4373
Komisja Nadzoru Finansowego
Central Bank of Hungary
Netherlands Authority for the Financial Markets
The Danish FSA
Czech National Bank
Národná Banka Slovenska
Financial Supervision Authority
Comissão do Mercado de Valores Mobiliários
Financial and Capital Market Commission
Croatian Financial Services Supervisory Agency
Agencija za trg vrednostnih papirjev
The Malta Financial Services Authority
Hellenic Capital Market Commission
Austrian Financial Market Authority
Autoritatea De Supraveghere Financiara
Financial Supervision Authority