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

Cypriot financial markets regulator CySec 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.

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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.

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