One of the client’s top criteria on selecting a trading firm is to find a regulated entity where regulations will be adhered at all times. Trading with a regulated investment firm, clients are comfortable that proper security, transparency and integrity on their daily transactions will occur.
PriorFX Limited is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC), under license reference: 221/13.
PriorFX is regulated under MiFID (Markets in Financial Instruments Directive), a European Union law effective as of 1 November 2007, which provides a harmonized regulatory regime for investment services across the European Economic Area. The main objectives of the Directive are to increase competition and consumer protection in investment services.
All companies regulated by the CySEC are obliged to meet strict financial standards including capital adequacy requirements. As such, PriorFX must adhere to a strict reporting schedule and regularly submit financial reports performed by an independent auditor. CySEC has the right to fine companies and/or terminate a company’s regulatory status in case of violations. The strict regulatory environment that PriorFX complies with serves to protect the client. It is a guarantee that business is carried out according to a number of firm rules and standards that have the purpose of limiting fraud and thereby also protecting client funds.