In order to become a cima Forex broker there are a number of requirements a firm has to comply with. Whether youre looking for Forex brokers in the Cayman Islands or brokers in any other country its important to understand the importance of choosing one which is licensed and regulated. The centerpiece here is obviously the above mentioned Monetary Authority Law, the 2018 version of which is available on the said page too. The Authority also aims to draw business to the Islands from various financial operators peddling money services, banking services, securities, investment funds and insurance-related operations. In addition, you will need to provide your fit and proper test details, which demonstrates the companys suitability as a forex brokerage or investment business. Advisory function, the cima acts as an advisor for the Cayman Islands government with regard to monetary, regulatory and cooperative matters. There will be very little recourse offered by an unregulated broker, and you will find yourself with no one to turn to for help.
There are members from more than 100 different countries, which together account for the regulation of more than 95 of the worlds securities markets. Fiduciary services are also subject to cima regulation.
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It has branches of 40 of the world's 50 largest banks. The Cayman forex Auto trading software kostenloser download Islands sound very promising for Forex companies and traders. The cima is also a participant in the International Monetary Funds Information Framework Initiative that requires it to provide statistical information to the IMF. Annual accounts have to be submitted to the cima, along with a certificate of compliance. Over 20,000 Trading Accounts, over 1,500 IB's Worldwide, over 100 White Labels 3 Trading Platforms. Many decent brokers have to make a double effort to prove themselves.