Wikilix
Licence record

CySEC licence 299/16

Holder
MC900
Jurisdiction
Cyprus
Licence type
Financial Service

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.

Issuing authority
Cyprus Securities and Exchange Commission
Holder
Magic Compass
Jurisdiction
Cyprus
Licence type
Financial Service

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

wikilix.com/licenses/cyprus-securities-and-exchange-commission/mc900/299-16Fields on file 2 / 11

Open MC900About 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)
Financial Service
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 MC900 applies it.
The holder

Who holds this licence

The licence above is recorded against MC900. Wikilix holds no separate company records for this holder, so we cannot say which legal company the register issued it to.

Broker
Magic Compass
Based in
Cyprus
Wikilix score
77.5the firm’s overall score, not a rating of this licence
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 MC900 holds

5 other licences are on record for MC900.

Frequently Asked Questions

Questions about this licence

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

Most Popular Questions
Magic Compass offers customer support primarily in English with live chat available during business hours. The broker also maintains active social media channels including Facebook, Twitter, Instagram, and YouTube for additional contact and updates. Other direct contact details like phone numbers or emails are not specified in the provided context.
Magic Compass provides trading access to various instruments including forex, CFDs, and cryptocurrencies. The broker is licensed to offer a broad range of regulated financial products such as stocks, derivatives, futures, and commodities under its regulatory licenses. Specific instrument availability may vary by region.
Magic Compass offers an ECN execution model with a zero commission structure according to the available data. There is no mention of spreads or additional trading fees in the provided context. Deposit and withdrawal fees are generally not charged by the broker, though third-party fees may apply for bank transfers.
Magic Compass supports several funding methods including credit/debit cards, bank transfers, e-wallets like Skrill and Neteller, and regional options such as POLi and Union Pay. Deposits are typically instant for cards and e-wallets, while bank transfers may take 2-5 business days. Withdrawal times vary from instant to up to 10 days depending on the method.
Magic Compass is a regulated broker with licenses from multiple authorities including CySEC in Cyprus and the Securities and Futures Commission (SFC) in Hong Kong. These regulators oversee its compliance with financial laws and client protection standards. The broker operates under onshore regulation and follows strict fund segregation rules.
Licence 299/16 was issued by Cyprus Securities and Exchange Commission (CySEC), the financial authority for Cyprus.
MC900 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.
MC900 has 5 other licences on record with Wikilix, across 3 jurisdictions. They are listed further down this page.
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