Financial and Business News

Exclusive: Major Cypriot Brokers Cease All Marketing Activities

Thursday, 14/10/2021 | 11:43 GMT by Arnab Shome
  • The brokers are operating in several jurisdictions
Exclusive: Major Cypriot Brokers Cease All Marketing Activities
FM

A major operator of multiple Forex and CFDs brands based out of Cyprus has completely shuttered all its Marketing efforts as of Wednesday, multiple sources have confirmed to Finance Magnates. At the time of publishing. the reasons behind the move are still unknown. Also, it is unclear whether this is a temporary or a permanent shutdown of some or all of the brokerage brands.

Finance Magnates have reached out to the group for official confirmation and will update accordingly.

Though the exact number of the brokerage brands associated with the group could not be confirmed, they are operating at least a dozen entities and brands that are registered and licensed mostly in EU jurisdictions.

More as this story develops.

A major operator of multiple Forex and CFDs brands based out of Cyprus has completely shuttered all its Marketing efforts as of Wednesday, multiple sources have confirmed to Finance Magnates. At the time of publishing. the reasons behind the move are still unknown. Also, it is unclear whether this is a temporary or a permanent shutdown of some or all of the brokerage brands.

Finance Magnates have reached out to the group for official confirmation and will update accordingly.

Though the exact number of the brokerage brands associated with the group could not be confirmed, they are operating at least a dozen entities and brands that are registered and licensed mostly in EU jurisdictions.

More as this story develops.

Topics
cyprus
broker
About the Author: Arnab Shome
Arnab Shome
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Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well. His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report. Area of coverage: 1. CFD broker-related news 2. Industry-related Regulatory updates and developments 3. New retail trading trends 4. Prop trading industry updates 5. Executive interviews Education: Bachelor of Technology - National Institute of Technology, Agartala (India)

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