There are brokers that have an office in multiple countries. They have regulation in each country that they are registered. I give you an example of a broker:
‘JFD is a leading Group of Companies offering financial and investment services and activities. “JFD Bank” is a brand name and registered trademark owned and used by the JFD Group of Companies, which includes: JFD Group Ltd (ex. JFD Brokers Ltd), a company with registration number HE 282265, authorized and regulated by the Cyprus Securities and Exchange Commission - CySEC (Licence number: 150/11), JFD Overseas Ltd which is authorized and regulated by the Vanuatu Financial Services Commission (License number 17933) and JFD Bank AG which is authorized and regulated by the Federal Financial Supervisory Authority (BaFin) and by the Deutsche Bundesbank under license number 120056.’
Again the broker has written:
‘Regional restrictions: JFD Group Ltd is allowed to serve only clients whose residence is in the EEA or in a country where the company has a legal permission to do so (such as Belarus, China, Switzerland, Turkey, UAE and Ukraine) whereas JFD Overseas Ltd is allowed to serve only clients whose residence is in another third country. A restriction on offering investment services applies to residents of the United States of America, Russia and to residents of other countries whose domestic regulations classify such investment offering as prohibited.’
The question is, I’m living in Cayman for a year. Can I open an account that is under ‘JFD Bank AG’ that is under BaFin Regulatory? As I don’t want to be under CySEC regulation or anything else.