Grand Capital, a Seychelles-based forex, CFD and binary options broker, will be seeking a license from the Cyprus Securities and Exchange Commission (CySEC), the broker’s CEO Stanislav Vaneev told the site Finance Magnates.
In an interview with the site Vaneev outlined the priorities and plans of Grand Capital for the upcoming 2017. From his words it becomes clear that the CySEC license would materialize soon.
This would mean that the brokerage, which is currently mostly active in Russia, some of the former Soviet countries and Asia, will expand its presence in the EU countries. “The CySEC regulation we are soon to acquire will, undoubtedly, open new markets and give a new span to the development of the company,” Vaneev said. In his words, the diversification of the markets would be one of the potential drivers for company growth, along with expansion of the products and services offered by Grand Capital.
Grand Capital is also planning to expand its trading accounts offering with the introduction of the LAMM service. An investment system similar to the (Percent allocation management module) PAMM service, which the broker abandoned recently over risks for its reputation and clients.
Unlike the PAMM service the LAMM, in Vaneev’s words, is completely transparent and is based on a rating system of account managers’ profitability history. “With such transparency, if you are not among best, everyone will see it and you are unlikely to attract many clients. It makes you really work on your trading skills before having other people entrust you their funds,” Vaneev said.
The broker offers trading in forex, CFDs on stocks, gold, oil, lumber and forex instruments and binary options. Its clients can sign up for five types of trading accounts, starting with a minimum deposit of $10 and leverage of up to 1:2000 for the Swap Free type of account. The trading platform is MetaTrader 4. There are also affiliate programs, a free demo trading account, economic calendar and analytical articles.
Currently Grand Capital has offices in Russia, Ukraine, Kazakhstan, Georgia, South Africa, Germany, Portugal, Indonesia, Philippines, India and Netherlands.