Uncertainty mounts over CommexFX as website goes down


After several months during which visitors of the corporate website of Cypriot Forex broker CommexFX saw a message saying “Suspended for 15 days”, all of the information about the broker disappeared from the website as its domain name has expired.

Since Friday – October 23, 2015, visitors of commexfx.com have seen an announcement that the domain has expired.

The Cyprus Securities and Exchange Commission (CySEC) first suspended the Cyprus Investment Firm license of CommexFX Ltd, citing violations of investment laws, on June 12, 2015. Several weeks later it prolonged the suspension and then, in an announcement dated August 6, 2015, the regulator said it was suspending the authorization of CommexFX anew. The CySEC said back then that it was considering whether to withdraw the license of the broker or not.

The watchdog alleges that the broker did not comply with the requirements for authorisation as referred to in sections 12 (persons who effectively direct the business), 13 (shareholder suitability) and 18 (organisational requirements) of the Investment Services and Activities and Regulated Markets Law.

In addition, it said that the company seriously infringed operating conditions and obligations of CIFs pursuant to the above mentioned Law.

Of course, the CySEC has the final word on the matter and the broker may simply renew the domain name. For the time being, however, it looks like that:

commexfx_inside_screenshot

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Uncertainty mounts over CommexFX as website goes down

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