The Cyprus Securities and Exchange Commission has reached a €100,000 settlement with RoboMarkets Ltd over possible breaches of investment services rules, including restrictions on the sale of CFDs to retail clients.

The settlement is not the first regulatory action against RoboMarkets. In 2023, CySEC ordered the broker to stop offering non-monetary rewards, including race tickets and branded merchandise, to retail clients. The regulator said the practice breached EU product-intervention rules on CFDs.

RoboMarkets Faces Compliance Review

RoboMarkets has already paid the settlement amount, according to a notice published by CySEC.

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The regulator's review examined several areas of the broker's operations. These included its organisational requirements, the information provided to clients and the procedures used to assess whether investment products were appropriate for clients.

CySEC Withholds Details of Violations

CySEC also examined the company's compliance with rules governing the marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term, distribution and sale of CFDs to retail clients.

CySEC did not disclose the specific practices or incidents that led to the possible violations.

Under Cypriot law, 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 can settle cases where there are reasonable grounds to believe that a breach of the legislation it supervises may have occurred.

Finance Magnates contacted RoboMarkets for comment on the settlement. As of publication, the broker had not responded.

RoboMarkets Targets Middle East

Meanwhile, RoboMarkets has shifted away from retail CFDs in Europe and expanded its focus in the Middle East. The group obtained a Category 1 licence from Dubai’s Securities and Commodities Authority for its local entity, Robomarkets MENA for Financial Brokerage.

The entity was established in July 2024. The Category 1 licence allows the firm to provide securities dealing and brokerage services, including trading in global markets, non-exchange-traded derivatives and spot FX.