Licenses & Regulation
Client funds are kept in international banks and fully segregated from our own funds to ensure safety and transparency
Cyprus Securities and Exchange Commission (CySEC)
Fortunex Financial Services Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission, which serves as the supervisory and regulatory authority for investment service firms in Cyprus. CySEC actively participates in the European Securities and Markets Authority (ESMA) Board of Supervisors.
Fortunex holds a cross-border CySEC license that allows for the provision of investment and ancillary services. We operate under the governance of EU and local regulations, including the European Markets in Financial Instruments Directive (MIFID II) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 (Law 87 (I)/2017).
MIFID II
MIFID II Directive 2014/65/EU came into force on 3rd of 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 through the Cyprus Investment Services and Activities and Regulated Markets Law of 2017 (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, provided that such services are covered by the investment firm’s authorisation.
Protecting Client Funds
Fortunex, as a regulated entity, satisfies the regulatory requirements pertaining to client funds in the following manner:
Funds Segregation
At Fortunex, all client deposits are held in distinct bank accounts, completely isolated from the company's funds. This segregation ensures that client funds cannot be utilized for any other purposes. To uphold the utmost operational standards, our financial reports undergo audits by PWC, a leading global financial auditing firm
Managing Counterparty Risks
Fortunex has forged strategic alliances with prominent financial institutions like Barclays Bank PLC, Julius Baer, and Royal Bank of Scotland to mitigate counterparty risks. We employ stringent internal limits to diversify client funds across multiple banks, continuously assessing credit risks. Moreover, we exclusively maintain client funds in jurisdictions with robust legal provisions for fund segregation.
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