Through a warning issued to the investing public on 10 December 2015, the Cyprus Securities and Exchange Commission informed investors with regards to the company Airsoft, which operates via www.airsoftltd.com and which according to the information presented on its website is a software provider and it is regulated by CySEC.
Pointing out that CySEC does not regulate software provider entities and that the company ‘Airsoft’ (www.airsoftltd.com) is not authorized to provide investment and ancillary services in the Republic of Cyprus and it is not regulated by the Commission, the Cypriot regulator warns that “therefore, references in advertising messages in the internet and the website of the company that it is regulated by the Commission are completely unfounded and misleading.”
AirSoft is a full-service brokerage technology developer with offices in Cyprus and Hong Kong offering binary options, forex and contracts for difference (CFDs) trading capabilities for brokers and the warning issued by CySEC against it had caused some confusion.
The confusion was however clarified when Airsoft itself went on to amend the wording of the regulatory part of its website. Apparently the reference to CySEC had been made due to the fact that Airsoft Ltd has an exclusive agreement with Cyprus Investment Firm AirFinancePro, which holds a valid CySEC license with number 206/13. According to Airsoft, due to this agreement they are in a position to offer closely selected clients that go through full due diligence process on their part the ability to operate as a regulated entity under Cysec laws.
However, recognizing the confusion caused the company has amended the wording on the site to better reflect this indirect relationship with CySEC. The wording is currently as follows:
“In today’s world, being a regulated broker is essential to validating and expanding your business activities.
AirFinancePro ( CIF 206/13 ) signed an exclusive agreement with Airsoft Ltd to use Airsoft Ltd’s Technology. Airsoft Technology has been designed to meet regulatory requirements so you can offer a fully EU regulated brand to your clients. As such, Airsoft made sure to take care of the brand every step of the way on the road to regulation. Let us help you bypass the otherwise long, frustrated and costly process and help you get on the road to profitability faster. Regulation ensures traders that their broker is safe and trustworthy, and that their money is legally protected by a governing body. Financial security is essential to clients, so it’s no wonder that all the major brokers in the business have attained this status.”
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.