The Cyprus Securities and Exchange Commission has withdrawn the investment firm licence of TIOmarkets CY Ltd after the company decided to surrender its authorisation.

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The decision follows several similar exits by Cyprus-regulated brokers. CySEC withdrew the authorisation of TTCM Traders Trust Capital Markets in June this year.

Earlier, the regulator withdrew HTFX's licence in January, FIBO Markets' licence in September last year and FXTM's authorisation in May 2024. All four withdrawals followed voluntary decisions by the companies to give up their Cyprus licences.

CySEC Confirms Withdrawal of TIOmarkets' Licence

CySEC said it approved the withdrawal at a meeting in September and announced it today (Friday). The company had "expressly renounce[d]" its Cyprus Investment Firm authorisation.

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TIOmarkets CY received its CySEC licence in 2023, allowing it to operate as a regulated investment firm in Cyprus. The withdrawal was made under the country's investment services law and the relevant regulatory directive.

CySEC did not provide further details about the company's reasons for surrendering its licence. The announcement did not cite any regulatory breach or enforcement action against the firm.

Finance Magnates contacted TIOmarkets for comment on the licence withdrawal but had not received a response by the time of publication.

TIOmarkets Adds Two Senior Executives

Separately, Andreas Skianis announced that he had joined TIOmarkets as Global Head of Partners. He previously held the same position at IC Markets and worked at IronFX, M4Markets and HotForex. The company also hired Nick Jay as Chief Operating Officer and FX Consultant.