Spot The Difference: CySec Issues Warning Stating That Depaho FX Is Unregulated
- CySec has today issued a warning to potential investors explaining that Depaho FX is not licensed to operate in its jurisdiction, and that it is a different company to similarly-named Depaho Ltd, which is regulated.
Cypriot financial markets regulator CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term has today published a warning to potential investors that Depaho FX does not carry a license to provide investment and ancillary services within its jurisdiction, and has never held a license to do so, or been authorized to do so by CySEC.
This is the second of such warnings during the course of a week issued by the regulator, which has in the past demonstrated much more restraint when it comes to enforcement than its British or American counterparts.
The subject of this particular warning has a business address on its corporate website which details that it has operations in Cyprus, and carries a very similar trading name to CySec regulated bforex white label GTCM which is a brand of Depaho Ltd.
The warning stipulates that GTCM’s license is valid, therefore the intention of the warning is to emphasize the importance of ensuring that similar names, are indeed just that, and not necessarily the same company.
Cypriot financial markets regulator CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term has today published a warning to potential investors that Depaho FX does not carry a license to provide investment and ancillary services within its jurisdiction, and has never held a license to do so, or been authorized to do so by CySEC.
This is the second of such warnings during the course of a week issued by the regulator, which has in the past demonstrated much more restraint when it comes to enforcement than its British or American counterparts.
The subject of this particular warning has a business address on its corporate website which details that it has operations in Cyprus, and carries a very similar trading name to CySec regulated bforex white label GTCM which is a brand of Depaho Ltd.
The warning stipulates that GTCM’s license is valid, therefore the intention of the warning is to emphasize the importance of ensuring that similar names, are indeed just that, and not necessarily the same company.