Legal:
Sonaf business Limited is regulated by the Cyprus Securities and Exchange
Commission
(CySEC). License Number (174/12) Sonaf business Limited Company Reg. Sonaf business Limited is
governed by all applicable EU and local regulations including the European Markets in
Financial Instruments Directive II (MiFID II) and the Cyprus Investment Services and
Activities and Regulated Markets Law of 2017 (Law 87(I)/2017).
License & Regulation :
The Cyprus Securities and Exchange Commission (better known as CySEC), is the supervisory
and regulatory authority of the Cyprus Stock Exchange and investment services firms in Cyprus. CySEC
is a member of the European Securities and Markets Authority (ESMA) and governed by the European
MiFID regulation since Cyprus became a member of the European Union in 2004. The Company is
governed by the European Markets in Financial Instruments Directive (MiFID) and the Cyprus
Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017).
MIFID II :
The Markets in Financial Instruments Directive (MiFID) Directive 2014/65/EU which came
into effect on 15th of May 2014, is a European Union Law that provides harmonized regulation for
investment services across the 31 member states of the European Economic Area. The main objective
of the European Union's MiFID II is to harmonize the governing of financial markets within the
European Economic Area (EEA), and therefore to increase efficiency, improve financial transparency
and consumer protection in investment services. MiFID II allows an investment firm to freely provide
its services both across the EEA and to other countries, provided that such services are covered by
the
investment firm's authorization.
Investor Compensation Fund :
The Company is a member of the Investor Compensation Fund, which covers eligible clients
of Cyprus Investment Firms. Being a member of the Investor Compensation Fund provides our clients
with an additional protection for their investment, MiFID retails clients are covered up to €20,000
by
the ICF in Cyprus. The objective of the ICF is to secure claims (in connection with investment
services
- or ancillary services) against Cyprus Investment Firms, in the event of the inability of the
member to
fulfil its financial obligations.
Safety of clients’ funds :
The company follows the strict policy that all client funds are kept fully segregated from the
Company’s own funds. This policy ensures that client funds cannot be used for any other purposes
and are available for clients at all times. Therefore, clients can rest assured that their funds are
safe at
all times.
Risk Warning:
CFDs are complex instruments and come with high risk of losing money rapidly due to leverage.
75% 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.
Client categorization: All clients are categorized as retail clients unless otherwise
communicated to the client who are therefore under increased protection of the law and eligible
for claims to the investor compensation fund.
Non-Service Jurisdiction:
The information on this website is not directed on residents of certain
jurisdictions/countries including but not limited to Australia, New Zealand, Canada, Iran, Iraq,
North
Korea, Japan, USA, Cuba, Syria, Sudan, Afghanistan, Guyana, Lao People’s Democratic Republic,
Uganda, Yemen, Venezuela and Puerto Rico or to any jurisdiction where such distribution would be
contrary to local and European laws and regulations.
