CySEC withdraws license of Stocks Forex AF, operator of Forex4group brand

Steffy Bogdanova
May 21, 2021 9:25 am

The Cyprus Securities and Exchange Commission (CySEC) revealed it has withdrawn the Cyprus Investment Firm (CIF) license of Stocks Forex AF, operator of the Forex4group brand.

The Cypriot regulator said the decision to withdraw the company’s CIF license follows Stocks Forex AF’s decision to renounce it.

Stocks Forex AF’s website stated:

Stocks Forex AF has voluntarily asked for the renunciation of its brokerage licence after returning all funds to the clients. The company is currently looking at the liquidation process.

CySEC

Stocks Forex AF Limited obtained its CIF license in 2015. The company offered forex and CFDs trading services in the Spanish-speaking region.

The CySEC withdrew the company’s CIF license on 10 May and announced it yesterday.

Earlier this week the regulator withdrew the CIF license of Rodeler Ltd, operator of the forex and CFDs broker brand 24Option. Rodeler also renounced its license after settling a €280,000 fine with CySEC.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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