Tag: CySEC fine

April 04, 2018 BY LeapRate Staff

Trade.com parent Leadcapital Markets Ltd fined €30,000 by CySEC for Romania client issues

Cyprus financial regulator CySEC has announced that it has issued a €30,000 fine to Leadcapital Markets Ltd. Leadcapital operates the Retail FX broker brands Trade.com and FINEXO. According to CySEC, the sanction was imposed because Leadcapital did not act honestly, fairly and professionally in accordance with the best interests of its clients in Romania, in a roughly…

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SFC fines
June 08, 2017 BY Valentina Kirilova

CySEC issues series of fines against former executives of CommexFX

The Board of the Cyprus Securities Exchange Commission (CySEC) just announced that has issued series of fines against former executives of CommexFX with a total amount of €400.000. CySEC has previously fined the company CommexFX, and after numerous suspensions of its license, has finally decided to wholly withdraw the authorisation with number CIF 153/11 of CommexFx Ltd,…

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April 24, 2017 BY Valentina Kirilova

Social forex trading site Tradeo fined €20,000 by CySEC

The Board of the Cyprus Securities and Exchange Commission (CySEC) just informed investors that decided to impose an administrative fine of €20.000 to the CIF UR Trade Fix Ltd (the parent company of Tradeo) for noncompliance with section 6(8) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to…

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March 10, 2017 BY LeapRate Staff

Binary Options broker group Novox Capital fined €5,000 by CySEC over name change to ZoomTrader Global

Cyprus financial regulator CySEC has issued a €5,000 fine to regulated binary options brokerage group Novox Capital Ltd. Novox is a licensed CIF company which operates a number of Binary Options, Forex and CFDs brokerage brands, including OptionBit (at website optionbit.eu), ZoomTrader Global (at zoomtraderglobal.com), RoyalPip (at royalpip.com), and NGN Broker (at ngnbroker.com). The current…

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February 15, 2017 BY LeapRate Staff

Binary Options group Novox Capital fined €175,000 by CySEC

Cyprus financial regulator CySEC has announced a €175,000 fine imposed to Novox Capital Ltd. Novox is a licensed CIF company which operates a number of Binary Options, Forex and CFDs brokerage brands, including OptionBit (at website optionbit.eu), ZoomTrader Global (at zoomtraderglobal.com), RoyalPip (at royalpip.com), and NGN Broker (at ngnbroker.com). The largest portion of the fine,…

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CySEC fine
February 07, 2017 BY Valentina Kirilova

CySEC fines Fortified Capital Ltd €5.000

The Board of the Cyprus Securities and Exchange Commission (CySEC) just informed investors that, at its meeting held on December 19, 2016, decided to impose a total administrative fine of €5.000 on the AIFM Fortified Capital Ltd for the noncompliance with article 29(2) of the Alternative Investment Funds Law. The Company, acting as the external…

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January 13, 2017 BY LeapRate Staff

CySEC revokes portion of fine against binary options broker IQ Option

Cyprus financial regulator CySEC has announced that it has reversed part of a €180,000 fine issued last September to regulated binary options broker IQ Option Europe Ltd, which operates website iqoption.com. CySEC stated that €20,000 of the €180,000 fine is now not payable. The €20,000 was for the company not taking all the reasonable steps…

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December 27, 2016 BY LeapRate Staff

Retail forex broker Colmex Pro gets €100,000 CySEC fine for misleading advertising and compliance failures

Cyprus financial regulator CySEC has issued a €100,000 fine Colmex Pro Ltd for a series of compliance issues discovered by the regulator. The €100,000 fine breaks down as follows: €40,000 for nor properly informing clients of appropriate risks of trading, €30,000 for misleading advertising, €20,000 for operational risks not being properly addressed, €10,000 for other…

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