License & Regulations

FxNet LTD (the owner of the domain www.nessfx.com) is a Cypriot Investment Firm (CIF), which provides online trading services on Forex and CFDs. The Company has been incorporated and registered under the laws of the Republic of Cyprus (Certificate of Incorporation No. 300624) and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 182/12. The Company operates and provides its services in full compliance with the Markets in Financial Instruments Directive (MiFID), revised and implemented on the 3rd of January 2018 as MIFID II.

MiFID, MiFID II & MiFIR

The Markets in Financial Instruments Directive 2004/39/EC (MiFID) is the regulatory framework for the provision of investment services by investment firms and in this way established for the first time an effective single financial services market in the European Economic Area (the 28 EU member states plus Iceland, Norway and Liechtenstein)

MiFID came into force on 1st of November 2007 and was implemented in Cyprus by the European Communities (Markets in Financial Instruments) Regulations, 2007 as amended (the “MiFID Regulations”).

MiFID II came into force on 3 January 2018 and was published together with the Markets in Financial Instruments

Regulation (“MiFIR”) in 2014. MiFID II has been transported into Cyprus local law under Law 87(I)/2007 on the provision of investment activities, the operation of regulated markets and other matters.

CySEC

The Cyprus Securities and Exchange Commission, known as CySEC, is the independent public supervisory authority responsible for the supervision of, inter alia, the investment services in Cyprus. Since Cyprus became a member of the European Union in 2004, CySEC has become part of European MiFID regulation, giving firms regulated in Cyprus the opportunity to provide their services on a cross border basis.

The main objective of CySEC is the supervision and control of the Cyprus Stock Exchange and licensed investment companies, which are providing financial and ancillary services to its Clients. It is the body that grants operational licenses to investment firms and other types of institutions. Visit CySEC

Moreover, we hold a cross-border CySEC License, authorizing us for the provision of our services throughout the EEA. We have obtained a passport to offer our services in a number of European countries, including:

  • Austria
  • Bulgaria
  • Croatia
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France*
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • United Kingdom

*Including Corsica and the five overseas departments and regions of France: French Guiana, Guadeloupe, Martinique, Mayotte and Réunion.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not a guarantee of future performance. Read more