The FX broker loses authorization months after the voluntary surrender announcement.
In a separate decision, the regulator removed four companies from the compensation fund, including the B2B unit of BDSwiss.
The Cyprus
Securities and Exchange Commission (CySEC) has officially withdrawn the
investment license of FIBO Markets Ltd, finalizing a process the forex broker
initiated late last year.
CySEC
announced the decision was made during its Aug. 25 meeting, formally revoking
the company's Cyprus Investment Firm (CIF) authorization number
118/10. The regulator cited FIBO Markets' express renunciation of its
license as the reason for the withdrawal.
FIBO Markets Loses Cyprus
License
The move
caps a months-long wind-down process that began in December 2024, when Fibo
Markets Ltd (ex FIBO Group Holdings Ltd), told clients it would voluntarily
surrender its CySEC license. At the time, the company said it expected the
renunciation process to wrap up by April 30, 2025.
“We deeply
appreciate the trust you have placed in us over the years and regret any
inconvenience this process may cause. We are committed to ensuring a smooth and
transparent transition for all our clients,” the company commented back in
December.
Source: FIBO Markets
FinanceMagnates.com
reached out to company representatives for comment, but no response had been
received at the time of publication.
While the
FiboMarkets.com website now states that the license has been surrendered, the
FIBOGroup.com website remains active, and the company is regulated by the
Financial Services Commission (FSC) in the British Virgin Islands (license
number SIBA/L/13/1063).
CySEC Takes Broader
Regulatory Action
The FIBO
Markets license withdrawal comes alongside broader enforcement activity by
CySEC. The regulator announced today (Thursday) that four other investment
firms have lost their authorizations and been removed from the Investors
Compensation Fund.
CySEC
withdrew licenses from Oasis Wealth Management Ltd, The Alternative GMI Ltd,
Itrade Global (CY) Ltd, and Viverno Markets Ltd. The regulator simultaneously
removed these companies from the ICF membership roster, though existing client
compensation rights remain protected for past investments.
It is worth
noting, however, that these are purely technical moves stemming from the
earlier withdrawal of licenses from the mentioned entities. For example, in the
case of Viverno Markets, a B2B unit of BDSwiss, authorization
was revoked in May after the company had not provided services for more
than six months.
The other
three firms, including Itrade
Global, which operates the Tradewell and TradeFW brands, had given up their
licenses some time ago, as had FIBO.
The Cyprus
Securities and Exchange Commission (CySEC) has officially withdrawn the
investment license of FIBO Markets Ltd, finalizing a process the forex broker
initiated late last year.
CySEC
announced the decision was made during its Aug. 25 meeting, formally revoking
the company's Cyprus Investment Firm (CIF) authorization number
118/10. The regulator cited FIBO Markets' express renunciation of its
license as the reason for the withdrawal.
FIBO Markets Loses Cyprus
License
The move
caps a months-long wind-down process that began in December 2024, when Fibo
Markets Ltd (ex FIBO Group Holdings Ltd), told clients it would voluntarily
surrender its CySEC license. At the time, the company said it expected the
renunciation process to wrap up by April 30, 2025.
“We deeply
appreciate the trust you have placed in us over the years and regret any
inconvenience this process may cause. We are committed to ensuring a smooth and
transparent transition for all our clients,” the company commented back in
December.
Source: FIBO Markets
FinanceMagnates.com
reached out to company representatives for comment, but no response had been
received at the time of publication.
While the
FiboMarkets.com website now states that the license has been surrendered, the
FIBOGroup.com website remains active, and the company is regulated by the
Financial Services Commission (FSC) in the British Virgin Islands (license
number SIBA/L/13/1063).
CySEC Takes Broader
Regulatory Action
The FIBO
Markets license withdrawal comes alongside broader enforcement activity by
CySEC. The regulator announced today (Thursday) that four other investment
firms have lost their authorizations and been removed from the Investors
Compensation Fund.
CySEC
withdrew licenses from Oasis Wealth Management Ltd, The Alternative GMI Ltd,
Itrade Global (CY) Ltd, and Viverno Markets Ltd. The regulator simultaneously
removed these companies from the ICF membership roster, though existing client
compensation rights remain protected for past investments.
It is worth
noting, however, that these are purely technical moves stemming from the
earlier withdrawal of licenses from the mentioned entities. For example, in the
case of Viverno Markets, a B2B unit of BDSwiss, authorization
was revoked in May after the company had not provided services for more
than six months.
The other
three firms, including Itrade
Global, which operates the Tradewell and TradeFW brands, had given up their
licenses some time ago, as had FIBO.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
CFD Industry Stats from 2025: Five Defining Trends - And One Prediction for 2026
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
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.
