The operator has voluntarily renounced its CySEC license.
Finance Magnates
The Cyprus Securities and Exchange Commission (CySEC), in its latest enforcement action, has imposed a €50,000 administrative fine on FXBFI Broker Financial Invest Ltd, the operator of the now-shuttered CFDs broker brand 101investing.
CySEC’s Enforcement Action
In the announcement published today (Tuesday), the regulator pointed out that the monetary penalty was imposed for the company's lapses around anti-money laundering and terror financing prevention requirements.
"The Company did not apply adequate and appropriate policies, controls, and procedures, so as to mitigate and manage the risks of money laundering and terrorist financing effectively, in relation to the detailed examination of each transaction which by its nature may be considered to be particularly vulnerable to be associated with money laundering offences or terrorist financing," CySEC's notice pointed out.
It is not the first monetary penalty that has been imposed on FXBFI by the Cypriot watchdog. Last October, the brokerage operator paid €150,000 to the Mediterranean island's regulator to settle possible violations of the country's financial regulations. The regulatory investigation also examined compliance with the rule on reporting to clients and remuneration.
A Shuttered Broker
FXBFI operated the 101investing brand with a Cyprus Investment Firm (CFI) license, which allowed it to offer trading services across the European Economic Area (EEA). Naturally, it stopped offering services to UK residents following the country's exit from the European Union.
According to CySEC's registry, FXBI received an operational license in September 2016. However, it has 'voluntarily' renounced this authorization and is now under regulatory examination.
The website of 101investing, which offered CFDs of forex, stocks, indices, commodities, metals, and cryptocurrencies, is not reachable anymore, and the registered website of FXBFI is currently up for sale. An archived version of 101investing shows that the broker wrapped up its operations in early 2022.
"Following the closure of the open trades on the 25th of February 2022 and subsequently the termination of activities, please note that we are taking all the necessary measures to fully refund any outstanding balances. Where applicable, you will be contacted in order to provide any additional information needed so as to process and complete the refund," a notice on the archived website shows.
Archived website of 101investing
The Cyprus Securities and Exchange Commission (CySEC), in its latest enforcement action, has imposed a €50,000 administrative fine on FXBFI Broker Financial Invest Ltd, the operator of the now-shuttered CFDs broker brand 101investing.
CySEC’s Enforcement Action
In the announcement published today (Tuesday), the regulator pointed out that the monetary penalty was imposed for the company's lapses around anti-money laundering and terror financing prevention requirements.
"The Company did not apply adequate and appropriate policies, controls, and procedures, so as to mitigate and manage the risks of money laundering and terrorist financing effectively, in relation to the detailed examination of each transaction which by its nature may be considered to be particularly vulnerable to be associated with money laundering offences or terrorist financing," CySEC's notice pointed out.
It is not the first monetary penalty that has been imposed on FXBFI by the Cypriot watchdog. Last October, the brokerage operator paid €150,000 to the Mediterranean island's regulator to settle possible violations of the country's financial regulations. The regulatory investigation also examined compliance with the rule on reporting to clients and remuneration.
A Shuttered Broker
FXBFI operated the 101investing brand with a Cyprus Investment Firm (CFI) license, which allowed it to offer trading services across the European Economic Area (EEA). Naturally, it stopped offering services to UK residents following the country's exit from the European Union.
According to CySEC's registry, FXBI received an operational license in September 2016. However, it has 'voluntarily' renounced this authorization and is now under regulatory examination.
The website of 101investing, which offered CFDs of forex, stocks, indices, commodities, metals, and cryptocurrencies, is not reachable anymore, and the registered website of FXBFI is currently up for sale. An archived version of 101investing shows that the broker wrapped up its operations in early 2022.
"Following the closure of the open trades on the 25th of February 2022 and subsequently the termination of activities, please note that we are taking all the necessary measures to fully refund any outstanding balances. Where applicable, you will be contacted in order to provide any additional information needed so as to process and complete the refund," a notice on the archived website shows.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Prop Firms and Brokers Form a Perfect Synergy: One Offers Access, the Other Capital
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
