TFI Markets

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TFI Markets Ltd.
LLC
Industry Financial Services
Founded 1999 (1999)
Headquarters Nicosia, Cyprus, EU
Key people
Loucas Marangos, CEO
Services Non-banking financial company, Forex Broker
Website www.tfimarkets.com

TFI Markets, better known as TFI, is a Europe-based global foreign exchange company with headquarters in Nicosia, Cyprus. It provides currency specific financial services through its own treasury and access to the foreign exchange market through the MetaTrader 4 electronic trading platform.[1][2] TFI could possibly be one of the earliest retail currency brokers worldwide, since it has allowed retail and institutional clients to speculate on foreign currencies in what is known as "margin forex trading" as early as 1999;[3][4]


Historical Timeline & CSR[edit]

  • In 1999, TFI pcl acquires Exchange Control License EC/B/2455 from Central Bank of Cyprus and in October of the same year, TFI Public Company Ltd is established.
  • In 2006, TFI pcl introduced its foreign exchange trading platform under the brand name of TFIFX[5]
  • In 2009, TFI pcl forms TFI Markets (a 100% wholly owned subsidiary entity)
  • In 2010, TFI Markets acquires license (117/10) from CySEC, registers TFIFX as a brand name and becomes MiFID compliant[6][7]
  • In 2011, TFI acquires license (115.1.2.13) as a payment Institution from the Central Bank of Cyprus and is included in World Finance's TOP 100 List and wins the Best Forex Broker for Eastern Europe award from International Business Times.[8][9][10][11]
  • In 2012, TFI, PwC and Gold Magazine establish the CIPA International Investment Awards. Since then, it has remained a strong supporter of the event. In the same year, TFI supported and helped organize the Chartered Financial Analyst Awards for rewarding those who passed the exam.[12]
  • In 2014, the company sponsors the 1st Regulatory Compliance Forum in Nicosia, in order to increase the dialogue between industry participants.[13]

Regulatory information[edit]

In 2009 the regulatory status of the holding company became unclear as new legislation in Cyprus superseding the Exchange Control license came into effect.[14][15] The company maintained communication with the Central Bank of Cyprus to resolve the issue and at the same time took the decision to suspend marketing and sales activities in its Forex Trading business until April 2010 when it established a new subsidiary for this business.[16] After changes in European regulation in 2009 and 2010[17] that brought margin FX trading under the supervision of the CySEC, TFI pcl formed a 100% wholly owned subsidiary entity, TFI Markets Ltd (TFM). TFM was approved by the CySEC as a CIF in April 2010 (license no. 117/10), which complies with Markets in Financial Instruments Directive (MiFID). TFIM started operations as a CIF on May 10, 2010 with a paid up capital of $5 million offering the regulated services of receipt and transmission of orders (R&T), Dealing for Own account (DOA) and also acting as a payment service provider for its institutional clients. TFI Markets Ltd is externally audited by Deloitte and internally by KPMG.[18]

Licences[edit]

  • A 100% subsidiary of TFI Public Company Limited (PCL), TFI Markets is authorised and regulated as an Investment Firm by the Cyprus Securities and Exchange Commission, CySEC with the licence no. 117/10.[19] CySEC operates under the EU Markets in Financial Instruments Directive (MiFID).
  • TFI Markets is also licensed as a Payment Institution by the Central Bank of Cyprus (licence no.115.1.2.13).[20]

References[edit]

External links[edit]