Cyprus financial regulator CySEC has announced that it is withdrawing the CIF financial services license of Best Choice FBC Ltd.
Best Choice FBC operates Retail FX broker BCFX Broker at bcfxbroker.com, and also owns a number of other FX properties including the Finish FinFX brand, which it acquired in 2015.
CySEC first suspended BCFX’s license in 2016. The initial suspension dealt with suspicions for alleged violations of issues relating to the people who effectively direct the business, the company’s shareholders, and the protection of client funds.
BCFX’s website continues to operate and continues to show a Limassol, Cyprus address, although we believe that the company has since uprooted its operations from the EU island country. The website still claims ‘Regulated by the CySEC’.