European Securities and Markets Authority (
ESMA)
) was tired of constant customer complaints about delays in payments and led new rules. Now the broker, having received a request for withdrawal of funds from the client, is obliged to process and execute it within one day.
Basically, brokers with Cypriot licenses sin with delays, but now the situation will change. If the company ignores the rule and delays payments, regardless of the reasons, then it will be declared as such, which carries out fraud with customers’ money.
According to the regulations, the broker must keep customers’ money in a separate bank account, and not speculate with it. This would allow you to withdraw funds from the account as soon as the client needs them.
