While the banks in Cyprus are slowly opening their doors again, officials feel relieved that the reopening of the local banks is seemingly calm. The banks in Cyprus have had closed down their doors for about 2 weeks. However money transfers are still limited and have to be approved by local officials.
While it is true that many forex brokers are located in cyprus or at least have bank accounts there, we can say that FX Choice Ltd. does not have a branch in Cyprus nor are there any financial ties to Cyprus based banks. Therefore none of our clients and partners will be affected in any way by the financial turmoil in Cyprus.