LeapRate Exclusive… LeapRate has learned via regulatory filings that AJF Financial Services Ltd, a Cyprus based investment group which operates a number of Retail FX, CFD, and Binary Options trading websites, has renounced its CySEC CIF license and will no longer regulated on the island.
AJF first received its CySEC CIF license (number 295/16) in February 2016.
AJF websites and brands have been focused mainly on the German and French language online trading markets. Sites under the AJF umbrella include:
AJF is the latest in a string of small to mid size CySEC licensed FX and Binary Options brokers which have decided to “go offshore”, rather than continue to be subject to the stricter rules put in place by CySEC late last year governing the leveraged trading sector including a ban on deposit bonuses, negative balance protection, and limited trading leverage.
In accordance with Cyprus law, AJF and its brands remain under the supervision of CySEC until it settles its obligations arising from the investment services or/and activities that lapsed.