ACFX forex broker license suspends for one month by CySEC.
By Johan on Friday,
The Cyprus Securities and Exchange Commission (CySEC) declared ACFX forex broker license suspends for one month. Atlas Capital financial Services Ltd, the parent ACFX Forex broker that operates through acfx.com.
According to regulator Cyprus, the corporate, that it operates the ACFX forex broker has violated the foundations and rules for risk monitoring and coverage, protects client funds and should have jeopardized the interests of their clients and regular operation of the capital market. License suspended for one month because of the company’s potential non-compliance continuously with the authorization and working conditions.
The regulator notes that the alleged violations might endanger the company’s clients’ interests or the investor interests or typically the regular operation of the capital market. ACFX has one month from the date of the choice of CySEC’s to need actions to accommodate the laws. Within the meanwhile, Atlas Capital Financial Services Ltd cannot conduct business operations, take new clients, take orders from clients for buying any financial instruments, offer alternative types of investment services, advertise it as investment service provider and create advertising campaigns.
About ACFX forex broker license suspends for one month if its clients want, close all their open positions and pay them back all their deposits and profits. At the time of the writing of this, the broker still has not uploaded the suspension notice and it had usurped new clients as usual.
In explicit, the corporate is suspected of breaches of the foundations associated with
- Continuity and regularity of the performance of investment services;
- Effective rules for distinctive, managing, observation and coverage of the risks;
- Adequate arrangements for the safeguarding of client’s funds.
About ACFX forex broker:
ACFX offers to change forex, metals, future and spot indices and stocks. It’s partnership programs and a number of other forms of bonus programs. Consistent with its web site, the broker is regulated and licensed by CySEC and registered by the UK’s monetary Conduct Authority (FCA).