The Cyprus Securities and Exchange Commission (CySEC) has just announced that on the 22nd of August, 2014, the firm Jiffix Markets Ltd, which provided investment services via the domain www.jfx.com, has renounced its authorization.
The broker, JFX (Jiffix Markets Ltd), was started by Charles Henri Sabet back in 2012. As first exclusively published by Forex Magnates in June, JFX has been merged into Traders Trust Capital Markets.
Right now, any client of JFX who tries to access the old website is being redirected to a Welcome to Traders Trust landing page that reads:
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Jiffix Markets Ltd. (“JFX”) is in the process of assigning their business to TTCM Traders Trust Capital Markets Limited (“Traders Trust”). With effect as of opening of business on Monday, August 18, 2014, all trading account(s) and open positions of JFX clients have been transferred to Traders Trust.
According to Forex Magnates’ sources, Mr. Sabet had already relinquished control of the company in June and wrapped up all operations a while ago, passing it on to Traders Trust Capital Markets Ltd, run by Nicola Berardi, who previously worked for Mr. Sabet as Chief Financial Officer at his banking venture Synthesis Bank, which was sold to Saxo Bank back in 2008.
Forex Magnates’ reporters reached out to both companies for comments, however, as of time of publication management declined to comment on the matter.