CySEC fines more 4 Forex and Binary brokerage.
By Sums On Monday,
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..