The broker who has recently rebranded to the valuable UFX.com domain was added to the Warning List by the Ontario Securities Commission, while segmenting regulatory profile on its site with Cysec and Belize credentials.
Recently rebranding from UFXMarkets to a valuable three letter domain, UFX.com, the broker was added to the Warning List by the Ontario Securities Commission (OSC) yesterday. The list includes individuals and companies that the OSC believes “appear to be engaging in activities that may pose a risk to investors." Included in the warning is UFX’s broker and affiliates brands.
Interestingly, the warning from the OSC took place as UFX began to decrease its regulatory profile. In the past, UFXMarkets marketed itself as a Cyprus regulated broker, under a CySEC license for its holding company, Reliantco Investments LTD. Currently though, UFX has begun to split mentioning of its regulation between EU and non-EU jurisdictions. Depending on where viewers of their website originate, UFX will show it to be regulated under Cyprus as Reliantco, or as an offshore regulated firm with licensing from Belize.
When reaching out to UFX about the removal of Reliantco, support staff didn't comment about the change. A representative however clarified to Forex Magnates regarding the regulation split saying: "We are onboarding non-EU clients through our Belize regulated entity UFXTrade, EU clients are onboarded by Reliantco Investments in Cyprus which is regulated by CySEC."
The regulatory change occurs as Reliantco continues to be listed by CySEC as a registered licensee. Additionally, sources confirmed to Forex Magnates that the list is current, with no change in Reliantco’s status. The changes appear to relate that going forward, UFX has decided that it prefers to operate under less intensive regulatory scrutiny for customers that fall beyond CySEC's jurisdiction. The firm has been the target of customer complaints on many trader forums, as well as being fined by CySEC in the past, which may have led to their decision to decrease their regulatory profile. It will be interesting to see how such a decision will affect their business, as over the past twelve months, UFX was noted around the industry for being one of the fastest growing Forex firms.
(Update: Earlier versions of this article incorrectly reported that UFX had begun to stop marketing its CySEC regulation in favor of it Belize license to all viewers, when in fact they have split which customers see which regulation)
Recently rebranding from UFXMarkets to a valuable three letter domain, UFX.com, the broker was added to the Warning List by the Ontario Securities Commission (OSC) yesterday. The list includes individuals and companies that the OSC believes “appear to be engaging in activities that may pose a risk to investors." Included in the warning is UFX’s broker and affiliates brands.
Interestingly, the warning from the OSC took place as UFX began to decrease its regulatory profile. In the past, UFXMarkets marketed itself as a Cyprus regulated broker, under a CySEC license for its holding company, Reliantco Investments LTD. Currently though, UFX has begun to split mentioning of its regulation between EU and non-EU jurisdictions. Depending on where viewers of their website originate, UFX will show it to be regulated under Cyprus as Reliantco, or as an offshore regulated firm with licensing from Belize.
When reaching out to UFX about the removal of Reliantco, support staff didn't comment about the change. A representative however clarified to Forex Magnates regarding the regulation split saying: "We are onboarding non-EU clients through our Belize regulated entity UFXTrade, EU clients are onboarded by Reliantco Investments in Cyprus which is regulated by CySEC."
The regulatory change occurs as Reliantco continues to be listed by CySEC as a registered licensee. Additionally, sources confirmed to Forex Magnates that the list is current, with no change in Reliantco’s status. The changes appear to relate that going forward, UFX has decided that it prefers to operate under less intensive regulatory scrutiny for customers that fall beyond CySEC's jurisdiction. The firm has been the target of customer complaints on many trader forums, as well as being fined by CySEC in the past, which may have led to their decision to decrease their regulatory profile. It will be interesting to see how such a decision will affect their business, as over the past twelve months, UFX was noted around the industry for being one of the fastest growing Forex firms.
(Update: Earlier versions of this article incorrectly reported that UFX had begun to stop marketing its CySEC regulation in favor of it Belize license to all viewers, when in fact they have split which customers see which regulation)
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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