Regulation and Supervision
Conotoxia Ltd. has been entered into the Registrar of Companies and Official Receiver of Cyprus with the following number: HE 351239. The company is licensed by the Cyprus Securities and Exchange Commission as a Cyprus Investment Firm (CIF) with the following license number: CIF 336/17.
Our authorisations include the following services and activities:
- Reception and transmission of orders in relation to one or more financial instruments
- Execution of orders on behalf of clients
We are also permitted to offer the following ancillary services:
- Safekeeping and administration of financial instruments for the accounts of clients, including custodianship and related services such as cash/collateral management
- Foreign exchange services where connected to the provision of investment services
- Investment research and financial analyses or other forms of general recommendation relating to transactions in financial instruments
Negative Balance Protection
We have introduced the Negative Balance Protection service to assure that you will not lose more money than you have invested.
How does it work?
Our trading procedure includes an automated Stop Out system, but from time to time a situation may occur where the price gap will cause your account balance to fall below zero and turn negative. In such a situation your account will be credited to restore the balance to zero.
However, we remind you that trading in FX and CFDs involves high risk of loss due to the leveraged nature of trading and we encourage you to maintain the required level of margin and trade responsibly.
The policy of Conotoxia Ltd. in scope of holding your funds assumes full separation between funds that are deposited by you and the company’s own funds. These are held in separate bank accounts.
Your funds are fully segregated into special client accounts and kept separate from our company's own funds, ensuring they remain secure. This means that they are only used in order to secure the deposit necessary to cover customer positions, maintain positions and cover fees and commission. The funds are kept in licensed, world-class financial institutions.
Investor Compensation Fund
In compliance to the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law of 2007, Law 144(I)/2007, the Company is a member of the Investor Compensation Fund (ICF) for the clients of Cyprus Investment Firms (CIFs).
The purpose of the ICF is to secure the claims of covered clients against the Company through the payment of compensation, if the necessary preconditions are fulfilled.