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Retail FX

Exclusive: Retail FX Broker TradedWell Shuts Down Website

  • The brokerage, which started running in 2020, closed its website on January 27, 2023.
  • TradedWell is the third CySEC broker to have encountered problems in the last 3 months.
Friday, 14/04/2023 | 14:23 GMT by Solomon Oladipupo
Retail FX

CySEC Slams €1M Fine on Itrade Global for Multiple Violations in Spain

  • The alleged violations were committed by its tied agent in Spain.
  • Some of them include dishonest practices and failure to prevent conflict of interest.
Thursday, 13/04/2023 | 13:07 GMT by Solomon Oladipupo
Retail FX

News Nuggets | 13 April: CySEC's Warning; New Features on Fortex's XForce

  • A new funding round of Altruist and Next Gate Tech; and a fraudulent crypto platform in Botswana.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 13/04/2023 | 10:37 GMT by Finance Magnates Staff
CryptoCurrency

CySEC Extends FTX Europe's License Suspension until September End

  • The license was initially suspended on 11 November 2022.
  • FTX Europe recently started to process withdrawals.
Wednesday, 12/04/2023 | 10:19 GMT by Arnab Shome
Retail FX

CySEC Takes Action on Russia-Linked Otkritie Broker

  • CySEC targets Otkritie Broker over Russian bank connections and bans one of its directors.
  • The regulatory provisions will take effect in six months.
Wednesday, 12/04/2023 | 08:06 GMT by Damian Chmiel
Retail FX

Italy's CONSOB Blocks Aquilafx, EuroCryptoFX, 3 Other Websites

  • CONSOB has now blocked 871 illegal websites over three years.
  • CySEC blacklisted six unauthorized online trading websites last month.
Thursday, 06/04/2023 | 15:10 GMT by Solomon Oladipupo
CryptoCurrency

Exclusive: FTX Europe Launches New Website for Customer Balance Withdrawal

  • The new domain will offer no products or any other services.
  • CySEC register shows FTX EU is still under license suspension.
Thursday, 30/03/2023 | 21:02 GMT by Solomon Oladipupo
Institutional FX

Devaluation Eats 18% into Cypriot Investment Managers’ AUM in 2022

  • CySEC also attributed the decrease to redemptions of shares and asset disposals.
  • The drop came despite the increase in investment firms during the third quarter.
Tuesday, 28/03/2023 | 13:22 GMT by Solomon Oladipupo
Retail FX

CySEC Crosses Three Brokers off the Investor Compensation Fund

  • Companies had previously surrendered their CIF licenses.
  • The clients still have the opportunity to apply for potential compensation.
Monday, 20/03/2023 | 10:02 GMT by Damian Chmiel
Retail FX

CySEC Supervised 837 Entities and Imposed €2.9 million Fines in 2022

  • CIFs represent the majority of licensed and sanctioned entities.
  • CySEC's oversight extends to two new types of companies: crowdfunding and PEPP.
Wednesday, 15/03/2023 | 13:08 GMT by Damian Chmiel
Retail FX

CySEC Blacklists Six Online Trading Websites

  • Three of the websites share the same branding.
  • CySEC kicked against five other unregulated trading platforms in January.
Thursday, 09/03/2023 | 20:14 GMT by Solomon Oladipupo
Executives

CySEC’s Ex-Chair, Demetra Kalogerou, Joins Board of e-Money Firm ECOMMBX

  • Kalogerou also joined INX Digital as a Board Member in July last year.
  • The top executive says she joined ECOMMBX because of its "many prospects."
Wednesday, 08/03/2023 | 14:40 GMT by Solomon Oladipupo
Retail FX

CySEC Withdraws Maxiflex's License for Violating Licensing Conditions

  • Maxiflex allegedly violated rules relating to prevention of use of client funds, others.
  • CySEC suspended Maxiflex's license completely in October 2021.
Monday, 06/03/2023 | 16:46 GMT by Solomon Oladipupo
Retail FX

CySEC Withdraws Magnum FX’s CIF License after “Voluntary Renunciation”

  • Magnum FX was licensed by CySEC in June 2018.
  • The broker operates four different websites.
Tuesday, 14/02/2023 | 15:00 GMT by Solomon Oladipupo
Retail FX

Inveza Capital Ltd "Expressly Renounces" CySEC License

  • The broker suspended its operations in September last year.
  • The company itself decided to give up its license.
Tuesday, 14/02/2023 | 12:36 GMT by Damian Chmiel
Retail FX

CySEC Warns against Licensed Broker Clone

  • IMS Crypto uses the CIF license number of IMS Markets.
  • The latter is CySEC's authorized investment firm, the first is just a clone.
Thursday, 09/02/2023 | 13:41 GMT by Damian Chmiel
Brokers

CySEC Withdraws License of FX/CFDs Brokerage Operator F1Markets

  • F1Markets settled with CySEC last year, paying €150,000.
  • The broker’s license was previously suspended for compliance violations.
Thursday, 09/02/2023 | 09:05 GMT by Arnab Shome
Retail FX

CySEC Withdraws License of TradoCenter and Toro Invest Operator

  • The company voluntarily renounced its CIF license.
  • The platforms stopped offering services on 7 August 2022.
Thursday, 02/02/2023 | 09:52 GMT by Arnab Shome
Retail FX

CySEC Finds 31% of Retail Investors Rely on Finfluencers

  • The regulator conducted a study to learn about retail investor behavior.
  • Twenty-two percent of investors made their decisions based on promotions and endorsements.
Wednesday, 25/01/2023 | 11:22 GMT by Arnab Shome
Retail FX

CySEC Warns against 5 Unregulated FX/CFDs Platforms

  • Four websites are still operating and offering trading services.
  • The regulator recently warned against other fraudsters and rogue platforms.
Wednesday, 25/01/2023 | 09:32 GMT by Damian Chmiel
FinTech

CySEC Investment Managers’ AUM Drops 7.2% to €9.9 Billion in Q3 2022

  • CySEC attributed the decrease to devaluation of assets and other factors.
  • Investment managers regulated by CySEC increased to 303 during Q3 2022.
Monday, 23/01/2023 | 15:37 GMT by Solomon Oladipupo
CryptoCurrency

European Central Bank Exec Wants Unbacked Crypto Treated as Gambling

  • Panetta says unbacked crypto is “a gamble disguised as an investment asset."
  • CySEC's Chairman also decried the speculative nature of crypto last October.
Thursday, 05/01/2023 | 14:35 GMT by Solomon Oladipupo
FinTech

ESMA Unveils New Logo, Plans New Website Launch

  • The EU financial regulator has started adopting the new logo.
  • ESMA said its new website will be launched later this month.
Tuesday, 03/01/2023 | 13:08 GMT by Solomon Oladipupo
CryptoCurrency

CySEC Extends FTX EU’s CIF License Suspension to March 2023

  • Japan extended the suspension of FTX Japan to March 9, 2023.
  • Australia's regulator's suspension stands until May 15, 2023.
Thursday, 22/12/2022 | 23:03 GMT by Solomon Oladipupo
Executive Moves

CySEC's Dr Theocharides Becomes Chair of ESMA's Risk Standing Committee

  • The RSC is the successor of the Committee for Economic and Markets Analysis.
  • ESMA named the Chair of several other standing committees as well.
Wednesday, 21/12/2022 | 08:44 GMT by Arnab Shome
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