FxPro Licenses and Regulations
As a fully authorised company, FxPro UK Limited ensures compliance with all FCA requirements.
*The FSA was recently split into two separate regulatory bodies: the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). As of 1 April 2013, FxPro will come under the regulatory remit of the FCA. We are now updating all references to the FSA across our network of websites to reflect these changes.
Cyprus Securities and Exchange Commission (CySEC)
FxPro Financial Services Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number 078/07), the supervisory and regulatory authority for investment services firms in Cyprus. CySEC is a member of the European Securities and Markets Authority (ESMA).
FxPro holds a cross-border CySEC licence, authorising the provision of global investment services. We ensure that we comply with EU and local regulations such as the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 Law 144(I)/2007).
The Markets in Financial Instruments (MiFID) directive 2004/39/EC came into effect on 1/11/2007with 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 Cyprus Investment Services and Activities and Regulated Markets Law of 2007 Law 144(I)/2007).
The key objectives of the European Union’s Markets in Financial Instruments Directive (MiFID) are: to improve levels of efficiency; to increase financial transparency; to promote competition and to effectively protect consumers. MiFID 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 firm’s authorisation.
Investors in People
FxPro UK Limited has been certified as achieving the “Investors in People” Standard.
Investors in People is a business improvement standard that aims to transform business performance through adopting a flexible, outcome-based framework of best practice. The Investors in People framework comprises a number of fundamental principles. These principles detail the criteria companies are required to meet to achieve the business standard.
FxPro is a member of:
- CCCI (Cyprus Chamber of Commerce and Industry)
- CFSFA (Cyprus Financial Services Firms Association)
Financial Services Compensation Scheme
FxPro UK Limited is a member of the Financial Services Compensation Scheme (FSCS). This is the UK’s statutory fund of last resort for customers of authorised financial services firms. The FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims made against it. Further information regarding the purpose and role of the FSCS can be found on their website http://www.fscs.org.uk
Investor Compensation Fund
FxPro Financial Services Limited is a member of the Investor Compensation Fund, the objective of which is to secure any claims of covered clients against members of the Fund and to compensate covered clients for any claims arising from malfunction by a member of the Fund in fulfilling its obligations whether that obligation arises from legislation, the client agreement or from wrongdoing on the part of the member of the Fund.