LeapRate Exclusive… LeapRate has learned that Cyprus financial regulator CySEC has arranged for the appointment of a provisional liquidator for Trademarker (Cyprus) Ltd.
Trademarker was an Israel-owned and operated CySEC-regulated brokerage group, which operated a number of Retail Forex and Binary Options brokerage brands, primarily SkyFX (at skyfx.com) and Capital Option (at capitaloption.com).
CySEC had suspended Trademarker and withdrew its CIF license back in May, after putting the company on temporary suspension back in February.
Both the SkyFX and Capital Option websites are now down.
The shutdown of Trademarker and its brands continues a consolidation we have been seeing in both the Retail Forex and Binary Options brokerage arenas, with what seemed like an ever increasing number of brokers competing for a somewhat fixed number of new clients. With high client churn rates, especially in the binary options sector, brokers rely heavily on marketing and constantly onboarding new clients.
As far as Trademarker goes, we understand that a decree was issued on the July 21 from the District Court of Limassol, which appoints Mr. Andrea Andronikou from Larnaka as the Provisional Liquidator of the company. The court decree authorizes the Provisional Liquidator, in cooperation with CySEC, to take all necessary measures for the return of all client the funds located in bank accounts of the company or in segregated client accounts.
We will continue to follow this story as it develops.