General Capital Brokers (GCB) is a newly licensed broker by the Cyprus Securities and Exchange Commission (CySEC). GCB’s website still does not provide much information about the services that are going to be offered by the company, but the risk warning at the bottom suggests that it will offer trading in financial instruments (derivatives).
Due to its MiFID-compliant regulatory framework allowing trans-European business activity and good quality business environment, among other favorable factors, Cyprus has evolved as one of the main forex hubs worldwide.
Forex brokers licensed in Cyprus must meet a set of rules. They are required to hold at least €730 000 and maintain it, to report to the Commission on a regular basis and to keep client funds in segregated accounts.
Furthermore, all CySEC-regulated brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
GCB Review Conclusion
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