FXOpen Group doesn’t Keep Accounts in Cyprus

FXOpen Group doesn’t Keep Accounts in Cyprus

FXOpen, one of the leading brokers in the Forex market, informs its customers that none of FXOpen Group keep any accounts in Cyprus banks. The broker’s clients may be assured that their funds are absolutely secured as FXOpen has no relation to the banking system of the island which is about to collapse.

Two largest banks in Cyprus – Laiki (Popular) Bank and Bank of Cyprus – are on the verge of bankruptcy. According to the preliminary data, all the deposit-holders with more than 100 000 euros may face huge losses. The levy on such deposits is expected to reach 30% or even more and is regarded as a bailout to the country. As for the deposits under 100 000 euros, they are going to be fully guaranteed.

However, to keep the island in the Eurozone and prevent it from a deep recession, the EU finance ministers and IMF have agreed upon a 10bn-euro help for Cyprus. Such a step might curb the crisis developments for some time but still, there is a threat for a number of businesses to shut down.

In this regard, the FXOpen broker would like to address its customers with an official statement that the company has no representation in the country and does not require services of its banking sector. All the accounts opened with the broker are protected and not affected by the current financial situation in Cyprus. So, FXOpen customers may not worry about the safety of their assets.

The broker’s highest priority is to provide conditions for safe, transparent and successful trading.

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