IC joins Bahamas Institute of FX & CFD Issuers (BIFCI)
IC Markets has become the latest member of BIFCI, the Bahamas-based industry group launched earlier this year by Pepperstone, Capital.com and Trade Nation.
Global online broker IC Markets has joined the Bahamas Institute of FX & CFD Issuers (BIFCI), becoming the latest addition to the industry body that was set up earlier this year by Pepperstone, Capital.com and Trade Nation.
BIFCI is a not-for-profit alliance of licensed forex and CFD companies operating in The Bahamas. It collaborates with the Securities Commission of The Bahamas (SCB) to promote consumer protection, fair competition and high industry standards. The institute says its goal is to foster a thriving local industry by engaging with market participants, creating local employment opportunities and encouraging innovation that improves market efficiency and investor confidence.
In a statement welcoming IC Markets, BIFCI said the broker's membership further strengthens its mission to foster collaboration, promote best practice and support continued development of a transparent, well-regulated forex and CFD industry in The Bahamas. The group described its membership as a platform for constructive engagement, knowledge sharing and industry leadership. It added that it looks forward to working with IC Markets to build a stronger voice for the sector and contribute to The Bahamas' long-term success as a leading international financial centre.
The Bahamas has become an increasingly popular offshore jurisdiction for online brokers, which was a key factor behind the creation of BIFCI. The addition of IC Markets expands the group's roster beyond its three founding members and bolsters its presence among globally active retail trading brands.
The announcement did not include any financial terms or further details about IC Markets' role within the institute.
Source: FX News Group