CySEC fines more 4 Forex and Binary brokerage

CySEC fines more 4 Forex and Binary brokerage.

By Sums On Monday,
CySEC fines more 4 Forex and Binary brokerage.Cyprus Securities and Exchange Commission (CySEC) announced CySEC fines more 4 Forex and Binary brokerage. It’s issuing fines to four CIFs leading Forex and binary options industry. CySEC Fines more four 4 brokers.

Cyprus Securities and Exchange Commission (CySEC) initial review has evolved in amercement for a number of brokers, that fines ranging from € 123,000 to € 340,000. CySEC fines more 4 Forex and Binary brokerage, In total, the settlements and fines totaling over € 1.3 million. The announcement by CySEC highlights the current problems that have affected the brokerage industry based in Cyprus, where for years a number of companies have been carrying out abusive exercise to it’s customers before this day would come to fruition.

The fines  :

WGM Services : WGM Services Ltd, the financial services company got fined a total of € 340,000 for breach of 16 separate charges. WGM Services Ltd it’s operator of EZTrader, EZInvest and Global Option.

Depaho : Depaho Ltd, summing it to a total fine of €233,000. It’s operator of FXGM and GTCM. Depaho Ltd has number CIF 161/11 of the license and operates through the two brands.

Pegase Capital: Pegase Capital Ltd it’s operator of InteractiveOption, HelloBrokers and MTX Plus. It’s total fine of  €300,000.

Reliantco Investments: Reliantco Investments Ltd it’s operator of UFX and UFXMarkets. The broker has been fined a total of € 123,000.

The regulator explained about this that the decision to induct the fines in question were taken in the context of a extensive review of business practice exams that it will continue in 2016.  In addition to the fines, as noted  CySEC also resolved all charges against Ironfx, that agreeing to a settlement with the company € 335,000.

About CySEC fines more 4 Forex and Binary brokerage for more detailed information on Every of the cases, please visit CySEC official website directly for all public announcements..


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