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Securities and Exchange Commission (CySEC) has officially withdrawn the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was revoked in May after the company had not provided services for more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 Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
IG Group Expects About £300 Million Revenue in Q1 2026
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
