The Philippines 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.
Harmovest Capital (Cyprus) Ltd
GVD Korimcy Ltd
No local licensing here
Licences across the group
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.
GVD Korimcy Ltd
Which company you actually sign with in the Philippines, and whose licence that is.
another company under the same brand
Cyprus Securities and Exchange Commission (via ESMA register) · 894500CGTQ3PZTSZ9P67
Registers · last read
Check it yourselfhttps://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/92416/
From the registers
The entries behind this answer
Each block below is one claim with the register it came from and the day we read it. Where we hold nothing, it says so.
What to do now
Harmovest Capital (Cyprus) Ltd in the registers we read
Entries we hold about this company: 1. Registers they came from: 1 — Cyprus Securities and Exchange Commission. Most recent reading: 2026-10-26. Everything on this page comes from those entries and from nothing else.
What each register says about the licence
Every licence entry we hold for this company, as the register publishes it, with the day we read that register.
| Register | Status | Licence number | In force since | Registered as |
|---|---|---|---|---|
| Cyprus Securities and Exchange Commission | Authorised | 411/22 | 07/02/2022 | Cyprus Investment Firm |
Supervision and compensation
Where the licence was issued decides what stands behind it, and we print the regulator's class rather than a score. Cyprus Securities and Exchange Commission — class: comparable supervision. Supervision: Full: capital requirements, client-money segregation, regular reporting. Compensation: A scheme exists, but it usually does not cover clients resident abroad.
- Supervision
- What the register impliesFull: capital requirements, client-money segregation, regular reporting.
- Compensation
- What the register impliesA scheme exists, but it usually does not cover clients resident abroad.
The brand and the company behind it
Legal name as the register holds it: Harmovest Capital (Cyprus) Ltd. Also advertised as: GVD Korimcy Ltd. A register knows the company, a website advertises the brand, and matching the two is the whole job of this page. Websites a register ties to it: hmvest.eu.
Other companies under the same brand
Companies in our data trading under this brand: 2 — GVD KORIMCY LTD, Harmovest Capital (Cyprus) Ltd. Which of them you sign with decides whose licence stands behind your money: the licence a website advertises is often held by a different company of the same group.
The warning lists we checked
Public warning lists we read: 3 — Polish Financial Supervision Authority, Agency for Regulation and Development of the Financial Market, Securities and Exchange Commission of Pakistan. Entries we hold from them: 1385. Last reading: 2026-10-26. This company is not named in any of them. That is not a clean bill of health: it means no supervisor we read has published a notice about it.
How to verify it at the source
Search the register yourself at www.cysec.gov.cy for Harmovest Capital (Cyprus) Ltd — the legal name, not the brand. A register files the company; a website advertises the name. Where the two differ, this page prints both so you can find the entry we are quoting.