VSMarkets Ltd

Klips CY Ltd

Pakistan does not license retail forex brokers, so no broker holds a local licence here. That is how this market is built, not a sign of fraud.

Last read2026-09-29

No local licensing here

Klips CY Ltd

Which company you actually sign with in Pakistan, and whose licence that is.

ACompany

KLIPS CY LTDanother company under the same brand

RegisterCyprus Securities and Exchange Commission (via ESMA register)

Licence213800HP6KZ9XS1D1U57

BCompany

VSMarkets Ltdthe company you looked up

RegisterCyprus Securities and Exchange Commission

Licence434/23

Not read by us yet

RegulatorLast read

Pakistan does not license retail forex brokers, so no broker holds a local licence here. That is how this market is built, not a sign of fraud.

Tier

Regulator · held by

Licence

Supervision

Compensation

1 comparable supervision

Cyprus Securities and Exchange Commission (via ESMA register)KLIPS CY LTDdomain you looked up · 2026-09-29

213800HP6KZ9XS1D1U57

Full: capital requirements, client-money segregation, regular reporting.

A scheme exists, but it usually does not cover clients resident abroad.

2 comparable supervision

Cyprus Securities and Exchange CommissionVSMarkets Ltddomain you looked up · 2026-09-29

434/23

Full: capital requirements, client-money segregation, regular reporting.

A scheme exists, but it usually does not cover clients resident abroad.

Same brand, other companies

DIFFERENT legal entities trade under one brand here, on different licences. The one you sign with decides which rung you are on: the protection differs, and the licence the brand advertises on its site may not be the one you get.

Sources we read

CY-CYSEC248good 2026-09-29tried 2026-09-29read