COMMITTED TO PROVIDING A TRANSPARENT INVESTING EXPERIENCE. YOUR FUNDS ARE KEPT IN SEGREGATED ACCOUNTS WITHIN EU CREDIT INSTITUTIONS
Security, privacy and protection of our clients’ interests is our top priority. We comply at all times with the standards of the regulatory requirements including due diligence and transparency regarding our pricing, commissions and procedures.
Cyprus Securities and Exchange Commission (CySEC)
iTrade Global (CY) Ltd, is authorized and licensed by the Cyprus Securities and Exchange Commission (License No.298/16), the supervisory and regulatory authority for investment services firms in Cyprus. CySEC participates in the European Securities and Markets Authority (ESMA) Board of Supervisors.
iTrade Global (CY) Ltd holds a cross-border CySEC licence, for the provision of investment and ancillary services. We are governed by the EU and local regulations such as the European Markets in Financial Instruments Directive (MIFID II) and the Cyprus Investment Services and Law which Provides for the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and other Related Matters L87(I)/2017.
MIFID II Directive 2014/65/EU came into force on 1st January 2018 to strengthen investor protection and improve the functioning of financial markets making them more efficient, resilient and transparent. The Directive was adopted in Cyprus though the Cyprus Investment Services and Activities and Regulated Markets Law of 2107 (Law 87(I)/2017).
The key objectives of the European Union’s Markets in Financial Instruments Directive (MiFID II) are: to improve levels of efficiency, to increase financial transparency, to promote competition and to effectively protect consumers. MiFID II 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 authorization.
Mitigating Counterparty Risks
TradeFW partners with several major banking institutions. Clients’ funds are kept in EU banking institutions of great repute. Internal limits ensure a diversification of client funds among banks and Payment Providers while credit risk is regularly monitored. Client funds are only kept in jurisdictions where segregation of client funds is supported by the local legal framework.
TradeFW offers Negative Balance Protection to all clients as part of the Client Agreement, given that it is not manipulated and is accepted in good faith. We are committed to a strict policy ensuring that clients may never lose more than their total deposits.
Protecting Clients’ Funds
As a regulated entity, TradeFW meets the following regulatory requirements relating to client funds:
Segregation of Funds
All clients’ funds deposited with TradeFW are fully segregated from the company’s own funds and are kept in separate bank accounts. This ensures that funds belonging to clients cannot be used for any other purpose. Our financial reports are audited by internal and External Auditors that are approved by the authorities, a leading global financial auditor, ensuring that our operations are conducted to the highest possible standards.
The Company is a member of the Investor Compensation Fund (ICF) which ensures that the Company pays compensation to all clients in the unlikely event of the Company becoming insolvent or having to suspend its services. The compensation amount will depend on the prevailing level of clients’ claims. Please refer to the Company’s legal documentation section and Investor Compensation Fund Policy for further details.
Being an investment firm authorized by an EU Member State regulator, in accordance to the MiFID Directive, iTrade Global (CY) Ltd is registered with various regulatory bodies of EEA member states that allow the provision of services in their jurisdictions. The full list may be seen below.