Following our exclusive report from the beginning of last month that London based spreadbetting and CFDs broker Capital Index had made an application to voluntarily give up its CySEC CIF license, CySEC had indeed issued a brief notice that Capital Index (Cyprus) Ltd has had its CIF license withdrawn. We had reported at the time…
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Which Retail FX broker was the latest to renounce its CySEC CIF license, and leave Cyprus? Were ETX Capital and LCG able to rebound from losses in their most recently reported fiscal periods? Who became the latest significant institutional investor in Markets.com parent Playtech? Which FX industry executives changed places this week? (There were several!).…
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Cyprus financial regulator CySEC, in apparent response to an increase in CIF license applications from FCA regulated firms, has issued a notice that any firm wishing to ensure its application has time to work its way through the system before a possible 'Hard Brexit' in March 2019 needs to have its paperwork completed and submitted…
Read moreCyprus financial regulator CySEC has announced that at its meeting of June 25, 2018, it has decided to wholly withdraw the Cyprus Investment Firm (CIF) authorisation license with number CIF 159/11 of the company Blackwell Global Investments (Cyprus) Ltd. CySEC did not give any specific reason for its decision. However we understand that the giving up…
Read moreYet another broker goes offshore. Or, is turning to crypto. Retail FX and CFD broker Invest.com has posted a notice on its site (see full text below) that its parent company GS Sharestocks Ltd has decided to renounce its CySEC CIF license, and has halted all regulated services as of earlier this week, April 9. As…
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Binary options technology and brokerage company TechFinancials Inc (LON:TECH) has announced that it has notified Cyprus financial CySEC of its intention to withdraw the Cyprus Investment Firm (CIF) license of its regulated subsidiary B.O. TradeFinancials Limited (BOT), and that it plans to shut down its OptionFair binary options brand, returning all client funds. BOT is the…
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Cyprus financial regulator CySEC has announced that it has withdrawn the CIF license suspension of Boursotrade Ltd. We had reported in March 2017 that CySEC had issued a temporary suspension of Boursotrade's license, due to “Persons who effectively direct the business”. Boursotrade Ltd operated several website brands, including boursotrade.com, boursepro.com, and Binary options broker boursebinary.com.…
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Continuing its efforts to clean up the domestic Retail FX sector, Cyprus financial regulator CySEC has issued a circular this morning entitled "Provision of investment and ancillary services and/or performance of investment activities in a third country". See full text below. Effectively, CySEC is cracking down on its domestic licensed FX brokers which take on…
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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…
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LeapRate Exclusive... LeapRate has learned that a new CySEC CIF license has been granted to a company called A.N. Allnew Investments Ltd, controlled by former XForex executive Jad Abdel Rahman. Under the new license, the company has launched a new Retail FX brand called LegacyFX, at websites legacyfx.com and for EU based clients at legacyfx.eu. The…
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