CommexFX's License Suspended for Endangering Clients’ Interests
CySEC has given CommexFX Ltd fifteen day to take actions in order to comply with the Directive, ‘Safeguarding of clients’

The Cypriot financial watchdog took action today against CommexFX, a broker operating mainly in Egypt and China as well as other Asian markets.
The Cyprus Securities and Exchange Commission (CySEC) has just announced that the authorisation of the Cyprus Investment Firm ‘CommexFX Ltd’ (CIF number 153/11) has been suspended, pursuant to the Investment Services and Activities and Regulated Markets Law, as there are suspicions of an alleged violation of the law, due to the Company’s possible non compliance with the Law: ‘Operational requirements – Clients’ funds’, as specialized in the Directive, ‘Safeguarding of clients’ funds’.
The commission says that the suspension decision was taken due to the fact that the aforementioned alleged violation might possibly endanger the company’s clients’ interests and in general the smooth operation of the capital market. CySEC has given CommexFX Ltd fifteen day to take actions in order to comply with the aforementioned provisions, otherwise the suspension might become permanent.
Suggested articles
CAPEX.com Expands Partnership with Praxis CashierGo to article >>
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
According to the securities law in Cyprus, a CIF authorized company has to suspend its services if the regulator suspends its license. The local law states that a CIF is not allowed to provide the services to which the license suspension is related until further notice. Furthermore, the company must, if clients so wish, close all open positions in relation to clients’ contracts and return clients all of their funds and profits earned.
Online traders’ forums called CommexFX a scam, because of its owner’s previous company going under, and encouraged wronged clients to turn to CySEC and file complaints against the firm. This very likely was the trigger for the watchdog’s investigation.
XM next… if they avoid closure for accepting US clients…
ED XM accepts US clients?
Yes, under forexbrokerinc.com
But CySEC sleeping as usual.
XM next… if they avoid closure for accepting US clients…
ED XM accepts US clients?
Yes, under forexbrokerinc.com
But CySEC sleeping as usual.
How can i get my money back ?
I guess you will need to wait for Cysec then you will get your money back whatever the decision is !
http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=dbe147df-598c-467e-93a4-d4708dd1d12a
How can i get my money back ?
I guess you will need to wait for Cysec then you will get your money back whatever the decision is !
http://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=dbe147df-598c-467e-93a4-d4708dd1d12a
Funny thing is that they do forex contests to help legitimize their business. They just did one last month or 2 months ago with CBF. The reason they allowed the contest to run is because ‘they were licensed by a regulator’.
Interesting 🙂
Funny thing is that they do forex contests to help legitimize their business. They just did one last month or 2 months ago with CBF. The reason they allowed the contest to run is because ‘they were licensed by a regulator’.
Interesting 🙂
I had an opened order on commexfx and the server is down from 5-6-2015 to 16-6-2015 12:00 pm as i understand from CYSEC decision is the client can close all open positions even on an earlier date if the client wishes. how can i do this action ?
I had an opened order on commexfx and the server is down from 5-6-2015 to 16-6-2015 12:00 pm as i understand from CYSEC decision is the client can close all open positions even on an earlier date if the client wishes. how can i do this action ?