Client funds are safe, claim Cyprus-based FX brokers
As the crisis in Cyprus continues following the parliament's rejection of an international bailout package earlier this week, retail foreign exchange brokers based on the island have been quick to reassure clients their funds would not be affected by a proposed levy on bank savings, but not everyone is convinced.
In a showdown with its European creditors on Tuesday, the Cypriot parliament rejected a controversial proposal to tax bank deposits, which would have raised €5.8 billion, proposed as a
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