AAATrade said on Monday it has registered with the relevant regulatory bodies in several European countries, including Germany, Spain, the UK, and France, where it can now offer services, forex trading included. The move is part of AAATrade’s plans to expand in the EU as a regulated Market Maker.
The broker holds a licensed from the Cyprus Securities and Exchange Commission (CySEC) under the number 244/14, which it acquired in July 2014.
The broker said it has registered with Germany’s Federal Financial Supervisory Authority (BaFin), the UK’s Financial Conduct Authority (FCA), and the Banque de France, as well as several other regulators in the European Economic Area (EEA).
“The European regulators are the start point not the end so I cannot yet call it an achievement, thus we are proud of today’s results”, AAATrade’s GM George Panagidis was quoted as saying with a hint on the company’s future plans to expand its regulation outside the European Economic Area.
A license in Cyprus allows a broker to operate in and target citizens of all EU member states. The CySEC licens allows AAATrade to provide investment and ancillary services, including trading with forex, stock, bonds, Treasury bills, commercial paper, options, futures, and contracts for differences (CFDs) on currencies, commodities, indices, and shares.
The company is based in Cyprus and provides trading with over 200 instruments in forex.
Source: Business Wire