CySEC brokers to ban all Bonus Promotions?
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In light of stringent Cyprus Securities and Exchange Commission (CySEC) regulations, and recent “additional guidance”, Xtrade would like to remind all investors that for European markets, NO bonuses may be offered that are designed to incentivise retail clients to trade.
This results to the end of any type of bonus offers from Xtrade Europe Ltd.
In order to comply with CySEC’s circular, the Company has already removed and stopped the provision of any type of bonuses to the clients.
No Bonuses by XTrade anymore?
For the last few months, many CySEC licensed FX brokers have ceased offering Bonuses for the reason of new regulation by CySEC.
But all the new regulation only prohibits “incentive bonus promotions” and some types of Bonus Promotions are still allowed to be offered.
This time, XTrade may ban all type of Bonus Promotions though, there can be new promotions run in the future by following the guidelines of new regulations again.
Some CySEC brokers also continues to run Bonus Promotions through their offshore companies with different regulations.
XTrade hasn’t announced about the upcoming new promotions yet though, we will announce them as soon as they become available.