Breaking: CySEC Suspends CIF Licenses for Capital Option, SkyFX
- SkyFX and Capital Option's operations have formally been halted by CySEC, following a suspension of Trademarker's licensing after several alleged violations.
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Trademarker is the brand that oversees SkyFX and binary options site Capital Option. In particular, SkyFX has had a brush with Cypriot regulatory authorities recently, being fined over $22,000 by CySEC back in May for improperly outsourcing segments of its operations and activities to Israel.
SkyFX is owned by Aviv Talmor, who also is the owner of the brokerage UTrade, which back in December faced Ponzi Scheme Ponzi Scheme A Ponzi scheme is a scam that looks to lure investors, ultimately paying profits to earlier investors with funds from more later investors.This form of fraud tricks victims into believing that products are instead generated from product sales or other means. In actuality, most investors are completely oblivious to the actual origin of incoming funds.One of the central attributes of a Ponzi scheme is the necessity of its ongoing nature, which is dependent on a steady flow of new contributions and funds. This can unravel quickly should investors request or demand repayment or lose faith in whatever assets they are supposed to own.While earlier episodes of this scam were carried out historically, the name Ponzi scheme is associated with Charles Ponzi in the 1920s.His original scam was based on the legitimate arbitrage of international reply coupons for postage stamps. This eventually gave way to diverting new investors' money to make payments to earlier investors and to himself.How to Identify Ponzi Schemes?Like any scam, Ponzi schemes follow a few basic trends that investors should be mindful of. A healthy amount of skepticism in regards to investing should always be present, which should help identify ways that scams look to market themselves.For example, Ponzi schemes almost always require an initial investment and promise above average returns. This also includes purposely vague or arbitrary terminology to help confuse more novice investors. This fraud is riddled with mentions of "high-yield investment programs", "offshore investment", or “guaranteed returns”.Any sort of investment opportunity should always be analyzed and researched. In the modern era, many tools are available to identify scams or fraudulent operations.Regulators in most jurisdictions are constantly policing against these forms of market abuse and it is important to check these registers before actually investing in dubious opportunities. A Ponzi scheme is a scam that looks to lure investors, ultimately paying profits to earlier investors with funds from more later investors.This form of fraud tricks victims into believing that products are instead generated from product sales or other means. In actuality, most investors are completely oblivious to the actual origin of incoming funds.One of the central attributes of a Ponzi scheme is the necessity of its ongoing nature, which is dependent on a steady flow of new contributions and funds. This can unravel quickly should investors request or demand repayment or lose faith in whatever assets they are supposed to own.While earlier episodes of this scam were carried out historically, the name Ponzi scheme is associated with Charles Ponzi in the 1920s.His original scam was based on the legitimate arbitrage of international reply coupons for postage stamps. This eventually gave way to diverting new investors' money to make payments to earlier investors and to himself.How to Identify Ponzi Schemes?Like any scam, Ponzi schemes follow a few basic trends that investors should be mindful of. A healthy amount of skepticism in regards to investing should always be present, which should help identify ways that scams look to market themselves.For example, Ponzi schemes almost always require an initial investment and promise above average returns. This also includes purposely vague or arbitrary terminology to help confuse more novice investors. This fraud is riddled with mentions of "high-yield investment programs", "offshore investment", or “guaranteed returns”.Any sort of investment opportunity should always be analyzed and researched. In the modern era, many tools are available to identify scams or fraudulent operations.Regulators in most jurisdictions are constantly policing against these forms of market abuse and it is important to check these registers before actually investing in dubious opportunities. Read this Term allegations from Israeli lawmakers, consequently resulting in a suspension of its operations. Talmor is also the individual who until recently was behind the Trademarker group, with the latest CIF suspension portending trouble for the beleaguered former UTrade CEO.
According to the CySEC regulatory manifest, Trademarker Ltd has drawn a suspension of its CIF license after several allegations (section 28[1]), violations in its client authorization (section 12), as well as organizational lapses (section 13) which violate CySEC requirements.
Most importantly, CySEC has opted to suspend Trademarker Ltd’s license given its potential to endanger the group’s client interests and assets, with negative repercussions on capital markets. As a result, CySEC has given Trademarker Ltd a period of fifteen days to remedy its aforementioned violations and to comply with the regulator’s provisions.
In the interim, Trademarker Ltd is prohibited from performing or providing any investment services across its operations and brands. In addition, clients across Trademarker’s brands are obligated to close any and all client positions in regard to previously outlined contractual obligations, including the return of their respective funds and profits earned.
Avid industry news reader? Take the Finance Magnates quiz
Trademarker is the brand that oversees SkyFX and binary options site Capital Option. In particular, SkyFX has had a brush with Cypriot regulatory authorities recently, being fined over $22,000 by CySEC back in May for improperly outsourcing segments of its operations and activities to Israel.
SkyFX is owned by Aviv Talmor, who also is the owner of the brokerage UTrade, which back in December faced Ponzi Scheme Ponzi Scheme A Ponzi scheme is a scam that looks to lure investors, ultimately paying profits to earlier investors with funds from more later investors.This form of fraud tricks victims into believing that products are instead generated from product sales or other means. In actuality, most investors are completely oblivious to the actual origin of incoming funds.One of the central attributes of a Ponzi scheme is the necessity of its ongoing nature, which is dependent on a steady flow of new contributions and funds. This can unravel quickly should investors request or demand repayment or lose faith in whatever assets they are supposed to own.While earlier episodes of this scam were carried out historically, the name Ponzi scheme is associated with Charles Ponzi in the 1920s.His original scam was based on the legitimate arbitrage of international reply coupons for postage stamps. This eventually gave way to diverting new investors' money to make payments to earlier investors and to himself.How to Identify Ponzi Schemes?Like any scam, Ponzi schemes follow a few basic trends that investors should be mindful of. A healthy amount of skepticism in regards to investing should always be present, which should help identify ways that scams look to market themselves.For example, Ponzi schemes almost always require an initial investment and promise above average returns. This also includes purposely vague or arbitrary terminology to help confuse more novice investors. This fraud is riddled with mentions of "high-yield investment programs", "offshore investment", or “guaranteed returns”.Any sort of investment opportunity should always be analyzed and researched. In the modern era, many tools are available to identify scams or fraudulent operations.Regulators in most jurisdictions are constantly policing against these forms of market abuse and it is important to check these registers before actually investing in dubious opportunities. A Ponzi scheme is a scam that looks to lure investors, ultimately paying profits to earlier investors with funds from more later investors.This form of fraud tricks victims into believing that products are instead generated from product sales or other means. In actuality, most investors are completely oblivious to the actual origin of incoming funds.One of the central attributes of a Ponzi scheme is the necessity of its ongoing nature, which is dependent on a steady flow of new contributions and funds. This can unravel quickly should investors request or demand repayment or lose faith in whatever assets they are supposed to own.While earlier episodes of this scam were carried out historically, the name Ponzi scheme is associated with Charles Ponzi in the 1920s.His original scam was based on the legitimate arbitrage of international reply coupons for postage stamps. This eventually gave way to diverting new investors' money to make payments to earlier investors and to himself.How to Identify Ponzi Schemes?Like any scam, Ponzi schemes follow a few basic trends that investors should be mindful of. A healthy amount of skepticism in regards to investing should always be present, which should help identify ways that scams look to market themselves.For example, Ponzi schemes almost always require an initial investment and promise above average returns. This also includes purposely vague or arbitrary terminology to help confuse more novice investors. This fraud is riddled with mentions of "high-yield investment programs", "offshore investment", or “guaranteed returns”.Any sort of investment opportunity should always be analyzed and researched. In the modern era, many tools are available to identify scams or fraudulent operations.Regulators in most jurisdictions are constantly policing against these forms of market abuse and it is important to check these registers before actually investing in dubious opportunities. Read this Term allegations from Israeli lawmakers, consequently resulting in a suspension of its operations. Talmor is also the individual who until recently was behind the Trademarker group, with the latest CIF suspension portending trouble for the beleaguered former UTrade CEO.
According to the CySEC regulatory manifest, Trademarker Ltd has drawn a suspension of its CIF license after several allegations (section 28[1]), violations in its client authorization (section 12), as well as organizational lapses (section 13) which violate CySEC requirements.
Most importantly, CySEC has opted to suspend Trademarker Ltd’s license given its potential to endanger the group’s client interests and assets, with negative repercussions on capital markets. As a result, CySEC has given Trademarker Ltd a period of fifteen days to remedy its aforementioned violations and to comply with the regulator’s provisions.
In the interim, Trademarker Ltd is prohibited from performing or providing any investment services across its operations and brands. In addition, clients across Trademarker’s brands are obligated to close any and all client positions in regard to previously outlined contractual obligations, including the return of their respective funds and profits earned.