Earlier, the company paid €200K to the regulator for regulatory violations from 2022.
Last week, the regulator settled €90K with two FX/CFD firms over compliance violations.
The Cyprus Securities and Exchange Commission (CySEC)
announced today (Friday) that it has recalled the suspension of the
authorisation of Cyprus Investment Firm Trek Labs Europe Ltd. This decision was
made during a CySEC meeting on June 23, 2025. Trek Labs Europe Ltd was
previously known as FTX (EU) Ltd. Its license was suspended in November 2022.
These issues involved
organisational and client information requirements. They took place before the
rebranding and ownership change, covering the period from March to November
2022.
CySEC stated it is now satisfied with Trek Labs Europe’s
compliance with the Investment Services and Activities and Regulated Markets
Law.
Backpack Focuses on Client Fund Returns
Meanwhile, the European branch of the collapsed crypto
exchange FTX
was acquired by Backpack, a smaller exchange ranked 200th by daily trading
volume. Backpack gained approval from CySEC and the bankruptcy court for the
acquisition of FTX EU’s MiFID II-regulated license.
Despite plans to relaunch services, including crypto
derivatives, the company remains under suspension. During this period, it
cannot provide investment services and is focused on returning funds to
affected clients. Backpack has also taken on responsibility for settling FTX’s
bankruptcy claims.
CySEC Settles with Two Firms
CySEC announced settlements totalling €90,000 with two
Cyprus-based FX and CFD firms over compliance violations from 2021.
Broctagon Prime Ltd paid €50,000 for possible client information breaches,
while Exclusive Change Capital Ltd, now rebranded as EXCA Prime, paid €40,000
for organizational requirement breaches.
Both companies have paid their settlements, which go
directly to the Cyprus treasury. CySEC did not specify the exact nature of the
violations but confirmed its authority to settle such cases under local law.
The Cyprus Securities and Exchange Commission (CySEC)
announced today (Friday) that it has recalled the suspension of the
authorisation of Cyprus Investment Firm Trek Labs Europe Ltd. This decision was
made during a CySEC meeting on June 23, 2025. Trek Labs Europe Ltd was
previously known as FTX (EU) Ltd. Its license was suspended in November 2022.
These issues involved
organisational and client information requirements. They took place before the
rebranding and ownership change, covering the period from March to November
2022.
CySEC stated it is now satisfied with Trek Labs Europe’s
compliance with the Investment Services and Activities and Regulated Markets
Law.
Backpack Focuses on Client Fund Returns
Meanwhile, the European branch of the collapsed crypto
exchange FTX
was acquired by Backpack, a smaller exchange ranked 200th by daily trading
volume. Backpack gained approval from CySEC and the bankruptcy court for the
acquisition of FTX EU’s MiFID II-regulated license.
Despite plans to relaunch services, including crypto
derivatives, the company remains under suspension. During this period, it
cannot provide investment services and is focused on returning funds to
affected clients. Backpack has also taken on responsibility for settling FTX’s
bankruptcy claims.
CySEC Settles with Two Firms
CySEC announced settlements totalling €90,000 with two
Cyprus-based FX and CFD firms over compliance violations from 2021.
Broctagon Prime Ltd paid €50,000 for possible client information breaches,
while Exclusive Change Capital Ltd, now rebranded as EXCA Prime, paid €40,000
for organizational requirement breaches.
Both companies have paid their settlements, which go
directly to the Cyprus treasury. CySEC did not specify the exact nature of the
violations but confirmed its authority to settle such cases under local law.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
WhiteBIT secures brokerage license in Georgia to launch regulated crypto derivatives
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
