Wikilix
Licence record

Magic Compass: CySEC licence 299/16

Issuing authority
Cyprus Securities and Exchange Commission
Jurisdiction
Cyprus
Licence type
Market Making(MM)

This is Wikilix's record of a licence issued by Cyprus Securities and Exchange Commission. It sets out what the register says, what we checked, and what the authority's own rules protect.

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Licence intelligence

RecordModified Aug 3, 2026

Licence Verification Record

Cyprus Securities and Exchange Commission 299/16

Recorded from the firm's own disclosure. Not yet checked against the register.

Holder
Magic Compass Ltd
Issuing authority
Cyprus Securities and Exchange Commission
Jurisdiction
Cyprus
Licence type
Market Making(MM)

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

wikilix.com/brokers/magic-compass/licenses/cyprus-securities-and-exchange-commission/299-16Fields on file 2 / 11

Open Magic CompassAll Magic Compass licencesAbout CySEC
Our check

What we checked

Nobody has adjudicated this licence yet. It is recorded here as claimed, not as confirmed.

Wikilix check
Not checked
Authority strength
Tier 2
Jurisdiction
Cyprus
Last checked
Never

Nobody at Wikilix has looked this licence up on the official register yet. Everything above comes from the record as supplied; treat it as a claim until you have checked it yourself.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
The register

What the authority publishes

Printed as the register prints it. A field that is missing here is one nobody has recorded, not one the register leaves blank.

Licence number
299/16
Licence type (Wikilix classification)
Market Making(MM)
The authority

About CySEC

Cyprus Securities and Exchange Commission is the authority that issued this licence, and the jurisdiction it applies in is Cyprus.

Full name
Cyprus Securities and Exchange Commission
Jurisdiction
Cyprus
Strength
Tier 2Well-established regimes with real supervision, usually with lower compensation limits than tier 1.
Established
2001
Oversight
A government or statutory body
Firms we track under it
216 firms
Regulates
Forex, Stocks, Options, Derivatives, Commodity, Securities, Futures, CFD
Licences it issues
CIF – Own Account / Matched Principal (CFDs)
Typical cost of a licence
€50000-100000
Public register
Searchable by the public
Transparency
High
Protection

What this licence protects

CySEC's own rules for the firms it authorises.

  • Compensation schemeUp to €20000 (ICF)
  • Client money kept separate
  • Negative balance protection
  • Complaints routeCyprus Financial Ombudsman
  • Maximum leverage1:30
This describes the authority's regime, not how Magic Compass applies it.
The holder

Who holds this licence

The licence above is recorded against Magic Compass. A licence is issued to a legal company, so the companies below are what you would search a corporate register for.

Broker
Magic Compass Ltd
Based in
Cyprus
Wikilix score
61.5the firm’s overall score, not a rating of this licence

Recorded companies

None of these matches the name the register printed, so we do not say which one holds this licence.

  • MAGIC COMPASS LTDUnited States · Reg. 20221781175 · Aug 12, 2022
Provenance

Where this record came from

Every date below has already happened. We do not publish a promised next-update date, because we do not schedule per-licence re-checks.

Last checked by Wikilix
Never — nobody has looked this entry up yet
Record last edited
When this entry was last changed in our database, which may be a correction rather than a change at the register.
Wikilix records what an authority published. It does not issue or endorse authorisations.
Also on record

Other licences Magic Compass holds

One other licence is on record for Magic Compass.

Frequently Asked Questions

Questions about this licence

Answered from this register entry and the authority’s own record.

Most Popular Questions
Magic Compass provides customer support via phone and live chat during business hours. Support is available in English, and clients can also contact them by email at info@magiccompass.com. The company is based in Limassol, Cyprus.
Magic Compass offers a maximum leverage of 20:1 according to the provided trading conditions. This leverage level is consistent with regulatory limits set by CySEC and FCA.
The minimum deposit amount to open an account with Magic Compass is 100 USD. This applies to both credit card and bank wire transfer funding methods.
Clients can deposit and withdraw funds using credit cards (Visa, MasterCard, Maestro) and bank wire transfers. Deposits via credit cards are processed within 2 hours with no fees, while withdrawals take 2-5 business days. Bank wire transfers take 3-5 business days for deposits and 1-2 business days for withdrawals, with withdrawal fees typically around 3.5% plus a €50 flat fee.
Magic Compass offers the MetaTrader 5 platform, which is a multi-asset trading platform supporting Forex, stocks, and futures. The platform is available on desktop and provides advanced analytics, faster execution, and algorithmic trading tools.
Magic Compass is regulated by CySEC in Cyprus and the FCA in the United Kingdom. Client funds are protected up to €20,000 under the Investor Compensation Fund in Cyprus and up to £85,000 under the FSCS in the UK. Both regulators provide complaint mechanisms and ensure high transparency and regulatory standards.
Licence 299/16 was issued by Cyprus Securities and Exchange Commission (CySEC), the financial authority for Cyprus.
Magic Compass holds this CySEC licence. A licence on record means the authority published an entry; it is not an endorsement.
Nobody at Wikilix has looked this entry up on the CySEC register yet, so treat it as claimed rather than confirmed. That is a gap in our coverage, not a finding against the licence.
Wikilix rates CySEC tier 2: a well-established regime with real supervision, usually with lower compensation limits than a tier-1 authority.
Magic Compass has one other licence on record with Wikilix, across one jurisdiction. They are listed further down this page.
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