The authorisation was revoked on May 20, 2024, following the company's decision to renounce it.
The firm ceased operations under its Cypriot entity effective December 31, 2023.
The Cyprus Securities and Exchange Commission (CySEC)
announced today (Friday) its decision to withdraw the Cyprus Investment Firm (CIF)
authorisation of Forextime Ltd (FXTM), effective from May 20, 2024. This
decision was made during CySEC's meeting held on the same date.
CIF Authorisation Withdrawn
Forextime Ltd, identified by the Legal Entity Identifier,
has had its CIF authorisation number 185/12 revoked. This action was taken in
accordance with the Investment Services and Activities and Regulated Markets
Law.The withdrawal of the authorisation follows the Company's decision
to renounce its CIF authorisation. There are no further details provided
regarding any judicial review, as none was applicable or undertaken.
From CySEC
Ceasing Operations under Cypriot Entity
Earlier, FXTM
renounced its CIF license and ceased operations under its Cypriot entity as
of December 31, 2023, according to a report by Finance Magnates reported. This
decision was confirmed by a notice on the EU website of FXTM
(forextime.com/eu), accessible only within the EU.
FXTM had already stopped offering services to retail clients
in the EU in February 2021, focusing instead on professional clients and
institutional traders in the EEA region. The latest move signifies a complete
withdrawal from the EU market. According to the CySEC, Forextime Ltd's license was
under examination for voluntary renunciation. The Cypriot entity obtained the
license in December 2012.
The FXTM and Alpari brands, consolidated under the Exinity
Group in 2020, serve over two million clients in 150 countries and 18
languages. FXTM is licensed in the UK as Exinity UK Ltd and Mauritius as Exinity
Limited, with the latter also operating Alpari International.
“As a group Exinity focuses on providing trading services to
clients in fast growing emerging markets through a number of trading and
investing brands. We haven't targeted
clients in Europe for a number of years through any of our brands, and we don't
expect to focus on European audiences as we look forward. As a result we took the decision not to
maintain a retail licence under CYSEC,” said Alison Cashmore, Group Chief
Commercial Officer, Exinity.
“The resignation of our CYSEC licence does not impact our
decision to maintain an office in Limassol.
We will continue to operate from our four global hubs in Limassol,
Dubai, London and Hong Kong, as well as a number of regional business
development offices across Asia, Africa, Middle East and LATAM.”
The Cyprus Securities and Exchange Commission (CySEC)
announced today (Friday) its decision to withdraw the Cyprus Investment Firm (CIF)
authorisation of Forextime Ltd (FXTM), effective from May 20, 2024. This
decision was made during CySEC's meeting held on the same date.
CIF Authorisation Withdrawn
Forextime Ltd, identified by the Legal Entity Identifier,
has had its CIF authorisation number 185/12 revoked. This action was taken in
accordance with the Investment Services and Activities and Regulated Markets
Law.The withdrawal of the authorisation follows the Company's decision
to renounce its CIF authorisation. There are no further details provided
regarding any judicial review, as none was applicable or undertaken.
From CySEC
Ceasing Operations under Cypriot Entity
Earlier, FXTM
renounced its CIF license and ceased operations under its Cypriot entity as
of December 31, 2023, according to a report by Finance Magnates reported. This
decision was confirmed by a notice on the EU website of FXTM
(forextime.com/eu), accessible only within the EU.
FXTM had already stopped offering services to retail clients
in the EU in February 2021, focusing instead on professional clients and
institutional traders in the EEA region. The latest move signifies a complete
withdrawal from the EU market. According to the CySEC, Forextime Ltd's license was
under examination for voluntary renunciation. The Cypriot entity obtained the
license in December 2012.
The FXTM and Alpari brands, consolidated under the Exinity
Group in 2020, serve over two million clients in 150 countries and 18
languages. FXTM is licensed in the UK as Exinity UK Ltd and Mauritius as Exinity
Limited, with the latter also operating Alpari International.
“As a group Exinity focuses on providing trading services to
clients in fast growing emerging markets through a number of trading and
investing brands. We haven't targeted
clients in Europe for a number of years through any of our brands, and we don't
expect to focus on European audiences as we look forward. As a result we took the decision not to
maintain a retail licence under CYSEC,” said Alison Cashmore, Group Chief
Commercial Officer, Exinity.
“The resignation of our CYSEC licence does not impact our
decision to maintain an office in Limassol.
We will continue to operate from our four global hubs in Limassol,
Dubai, London and Hong Kong, as well as a number of regional business
development offices across Asia, Africa, Middle East and LATAM.”
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
XTB Shares Fall for Second Day as Profit Slump Hits Investors Sentiment
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
CMC Markets’ Artur Delijergijevs on Metals Demand, Volatility, & Stable Execution
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
