Cyprus, the Main Financial Hub in the EU

Opening to new investment opportunities

Nearly three years ago, the Eurozone granted Cyprus a $13 billion bailout to help revitalise the island's economy. The results were not late to appear as, two years later, Cyprus managed to really turn "the page on its way to full recovery", according to the World Policy Blog quoting Christodoulos Angastiniotis, Chairman of Cyprus Investment Promotion Agency.The future seems promising with the Cypriot economy exceeding the expected growth indicators in 2015 and following a steady ascending trend throughout 2016, the economic crisis seems like a distant memory. Investments are also expected to grow exponentially.

Long gone are the days when Cypriots counted every cent, now with even greater investment incentives already being implemented, Marios Tsiakkis, Secretary General of the Cypriot Chamber of Commerce and Industry stated in a 2015 interview that there was hardly any reason to doubt the
prosperous future of the island, and he was right. With a corporate tax of 12.5%, maintained to this day, counting as the lowest in the EU, Cyprus has signed no less than 54 double taxation treaties, including one with the US. The purpose of these treaties is to prevent the risk of being taxed in two countries on the same investment. Other investment legislation further reduces investment-associated risks and ensures investor security, such as the anti-money laundering legislation. According to the Basel Anti-Money Laundering Index, Cyprus holds position 125 among 162 countries, with low investment risk.

Cyprus fosters solid investment offering a wide range of opportunities and encouraging growth in tourism, renewable energy, oil & gas, shipping, and the fintech industry. The steady economic growth that Cyprus has experienced in the last years caught the attention of international traders, attracting more and more foreign exchange firms on the eastern Mediterranean shore. Most of them promote a traditional trading style. Virtually 40 percent of these companies offer derivative financial products, Demetra Kalogirou, CySEC Chairwoman told Cyprus Mail.

Despite the dispute involving Rodeler Ltd. going on around an alleged misleading marketing message found on the company's French website that might ban the company's operations with France, behind which political interests play an important part, according to Kalogirou,Cyprus boasts an impressive number of fintech companies - 230, 140 (almost 60 percent) of which provide traditional trading, and only 90 of them do offer more complex financial derivatives that also involve higher risk. 

Moreover, the Rodeler case is singular, the CySEC head told the media, and "each national regulator applies its own rules", but under no circumstances would this suggest that other regulators, including CySEC would apply laxer standards or close their eyes on serious irregularity issues. Additionally, considering the country's size and population, the number of forex companies is quite large. So, in only a few years after the crisis that took over the whole of Europe, the island of Aphrodite has managed to become the island of thriving fintech companies and a hub in this line of business.

Without risking any wordy cliche, TeleTrade Europe is a true success story. Member of a larger group of forex companies, the TeleTrade Group, with
200+ offices in 30 countries and over 3000 professionals ready to offer qualified advice on smart investment, thecompany has a history of over 20 years in the financial industry.

Licensed by CySEC under no. 158/11, TeleTrade provides a wide variety of financial instruments or assets to those who are willing to get a head start in online trading, such as Forex (or currency pairs), CFDs (contracts for difference) on stocks, commodities, futures, ETFs (exchange traded fund). To maximise its clients' trading experience, TeleTrade offers them the unique opportunity of generating profit through state-of-the-art and reliable platforms. Whether you are a business owner or simply looking for ways to make a nice income through trading,TeleTrade gives you the tools to skyrocket your profits. Becoming a TeleTrader will not only give you access to first-rate products, but you will also benefit from the expertise of professional traders who are more than happy to share their tips, tricks, and strategies. 

Winner of numerous awards for best customer support, best CFD broker, best trading education to name only a few, TeleTrade Europe acts as an independent entity of the group coordinating TeleTrade's operations in the Eurozone. 

Strongly represented in major European countries like Germany, Austria, Cyprus, the UK, Greece and more, the reputed forex broker offers dedicated customer services for its investors. Most importantly, as a major EU licensed and regulated broker, security is the name of the game with TeleTrade. Therefore, placing risk management at the forefront, TeleTrade safeguards its investors accounts keeping their money safe while trading. Additionally, with the latest PCI compliance protocol in place, customer data are perfectly protected against any cyber security threat. 

If you're a novice when it comes to trading, you need not worry. TeleTrade offers you the possibility to become familiar with the platform and the fundamentals of trading, using leverage to make money, by trading through a demo account not using your real money at first. Before putting your stakes too high from the beginning, go through the educational materials and videos the company has available and you understand what trading involves. For any queries that you may have, TeleTrade's customer support representatives and account managers will be there to guide you every step of the way. 

This one in a series of articles on trading and investing in Cyprus. Stay tuned for more on fundamental and technical analysis and professional trading. After all, the island is the EU's financial and trading hub.