The financial regulator of Cyprus – CySEC – announced it has granted two more forex broker licenses – to IFC Investments Cyprus and Jin Daocheng.
According to the CySEC publication, the decisions were taken on September 21, but the licenses are not yet activated.
Both companies are permitted to provide foreign exchange services where these are connected to the provision of investment services. They can also provide investment services such as reception and transmission of orders in relation to one or more financial instruments, execution of orders on behalf of Clients and investment advice, as well as safekeeping and administration of financial instruments, including custodianship and related services.
The Cyprus license means the company can provide its financial services in all 28 EU member states.
SMN could not find detailed information on neither of the new licensees, except that Jin Daocheng is based in Hong Kong and that IFC Investments Cyprus Ltd was established last year.
On Monday CySEC announced it has granted a forex license to FXBFI Broker Financial Invest Ltd.