Broker Summary
What Wikilix has recorded about SIB: its history, the licences it holds, its trading conditions and its fees.
Introduction and Overview
SIB (Cyprus) Ltd is a financial services company operating mainly in the investment and trading sectors. It is registered in Cyprus and actively presents its services in the United Kingdom, positioning itself as a player in the European financial markets. The investment service provider, SIB (Cyprus) Ltd, has been noted for its regulatory compliance and membership within various key financial institutions.
While detailed public information about the company's full range of services and trading conditions is limited, the registration and regulatory affiliations of SIB (Cyprus) Ltd form a basis of trust and security for its clients.
Background and History
SIB (Cyprus) Ltd is a private limited company by shares, having been incorporated in Cyprus and bearing the registration number HE119924. It also operates as an overseas entity in the United Kingdom, registered under company number FC033170. Its UK establishment was officially opened on 18 February 2016, marking its expansion beyond Cyprus.
Historically, SIB (Cyprus) Ltd was a member firm of the London Stock Exchange, having joined on 30 September 2013. This membership underlined the company's commitment to operating within established financial markets. However, this firm was delisted as a member firm of the London Stock Exchange on 29 December 2022, indicating a significant change in its participation in those markets.
Key Features and Offerings
Although SIB (Cyprus) Ltd does not publish precise details about its trading platforms, account types, and trading conditions, the membership in ICF demonstrates the care taken by the firm for the protection of its investors. That means that, according to Cyprus legislation, their clients are covered in case of the firm's insolvency.
The company's operational hubs are Alpha Business Centre and Capital Center, both registered addresses in Nicosia, Cyprus. The SWIFT/BIC code, IVEMCY21, allows the company to conduct international financial transactions, showing its integration into global banking networks.
Licensing and Regulatory Compliance
Regulatory oversight is one of the most important aspects for any financial services provider. SIB (Cyprus) Ltd maintains full compliance with all the relevant authorities. Being registered in Cyprus, the company falls under the jurisdiction of the Cyprus Securities and Exchange Commission, CySEC, which enforces very strict regulatory standards upon investment firms operating within its jurisdiction.
Furthermore, the membership of the firm in the Investor Compensation Fund reinforces its regulatory standing and ensures client security.
Regulator
License/Registration Number
Status
Cyprus Securities and Exchange Commission (CySEC)
HE119924
Active
UK Companies House (Overseas Registration)
FC033170
Active
Investor Compensation Fund for Investment Firm Clients (ICF)
Article 59 of Law 144(Ι)/2007
Member
Trading Conditions and Platform Technology
Certain specific conditions related to trading with SIB (Cyprus) Ltd, including spread, leverage, minimum deposit required, and the technology applied to the trading platform, are not available. The lack of such detailed information means that, for accurate terms and conditions, one should contact the company directly.
However, the company's SWIFT/BIC code is IVEMCY21, and the registered offices are in Cyprus, showing a structured operational framework in support of international financial transactions.
Trading Condition
Information
Spreads
Not publicly disclosed
Leverage
Not publicly disclosed
Minimum Deposit
Not publicly disclosed
Trading Platforms
Not publicly disclosed
Fee Structure
Details about the fee structure of SIB (Cyprus) Ltd, such as deposit fees, withdrawal fees, and commissions, are not publicly available. Transparency in fee structures is vital to investors, and interested investors are strongly advised to enquire about it from the company.
Fee Type
Description
Details
Deposit Fees
Charges applied on deposits
Not publicly disclosed
Withdrawal Fees
Charges applied on withdrawals
Not publicly disclosed
Commission
Commissions resulting from trading
Not publicly disclosed
User Experience and Market Reputation
Customer reviews and detailed analysis of market reputation are not part of publicly available information in respect to SIB (Cyprus) Ltd. The possible influence of its removal from London Stock Exchange membership at the end of 2022 on the market standing of the company is hard to judge without additional data.
Therefore, any potential client of SIB (Cyprus) Ltd. should perform full due diligence, including direct inquiries and consultation with regulatory bodies, concerning the suitability of the company to meet their investment needs.
Recent Developments
The most notable recent development for SIB (Cyprus) Ltd pertains to the delisting as a member firm of the London Stock Exchange, effective 29 December 2022. This is a significant adjustment in market engagement and may affect strategic outcomes for this company henceforth.
Other recent updates, whether in new technology, addition of products, or change in corporate structure, are not publicly documented to date.
Conclusion
SIB (Cyprus) Ltd is a Cyprus-based financial services company operating in the UK, with a history of its participation in major financial markets, including the London Stock Exchange. The company maintains memberships for regulatory compliance and investor protection, though information regarding actual trading conditions, fees, and client experience cannot be found in great detail in the public domain. Prospective customers and partners should, therefore, directly contact SIB (Cyprus) Ltd for detailed information and confirmation of its current status. Although the regulatory position and international registration of the company provide a sound foundation, transparency and timely disclosure are what will make a difference in informed decision-making.
Regulatory Licenses
SIB is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked row is not a finding either way.
- Licences on record
- 1
- Confirmed on register
- 0
- Tier 1 or 2
- 1
- Offshore
- 0
How far our check got
- 1 not yet checked
CySECTier 2CyprusMarket Making(MM)No. 066/06
What the register says
- Licence number
- 066/06
- Type
- Market Making(MM)
Client protection under this licence
- Compensation schemeUp to €20000 (ICF)
- Client money kept separate
- Negative balance protection
- Complaints routeCyprus Financial Ombudsman
- Maximum leverage1:30
These are the rules CySEC sets for the firms it licenses. They are not a statement about how SIB applies them, or about which of its companies would hold your account.
Open the full licence recordAbout Cyprus Securities and Exchange Commission
Onshore regulatorGovernment bodyCompensation: Up to €20000 (ICF)Public registerTransparency: high- Typical cost of this licence
- €50000-100000
Funding Methods
5 ways to fund an account. 2 with no deposit fee. 4 credit instantly. The costliest way in is Skrill at 4%.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Bank TransferBank TransferProcessing times may vary depending on the banks involved. Available for clients with bank accounts in supported countries. | Free | Free | EUR 1,000 | EUR 20Not recorded | 2 days |
Credit/Debit CardsCredit CardAvailable during business hours; fees may apply for currency conversion. Available for clients with eligible credit/debit cards. | 1.49% | EUR 2 | EUR 1,000 | EUR 10EUR 10,000 | Instant |
SkrillE-WalletProcessing times may vary; fees are subject to change. Available in supported countries. | 4% | 4% | Not recorded | USD 10USD 10,000 | Instant |
PayPalE-WalletAvailable for EU citizens; fees may apply for currency conversion. Available in supported countries. | 3.5% | 2% | EUR 1,000 | EUR 10EUR 5,500 | Instant |
CryptocurrencyCryptocurrencySubject to network confirmations; fees may vary. Available in supported countries. | Free | Free | Not recorded | USD 5USD 10,000 | Instant |
Corporate Network
One legal entity behind the SIB brand.
- SIB (CYPRUS) LIMITEDActiveCyprusRegistration HE119924Established Jun 15, 2006
Comments
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