Homepage > News > CySec removes the license from Stocks Forex AF company

CySec removes the license from Stocks Forex AF company

The Cyprus Securities and Exchange Commission (CySec) announced the withdrawal of the Cyprus Investment Company (CIF) license to Stocks Forex AF Ltd, which managed the Forex4group brand.

The decision was made due to the company’s request to relinquish the CIF license due to its entry into liquidation. In a statement posted on its website, the company emphasizes that it has returned all customer funds.

Stocks Forex AF Ltd obtained a CIF license in 2015 and offered Forex and CFD trading services focusing on the Spanish-speaking region. CySEC decided to withdraw its licenses earlier this month under the Services, Investment, and Regulated Markets Act.

Earlier this week, the Cypriot regulator removed the license from Rodeler Ltd, which managed the 24Option brand. As with Stocks Forex AF, Rodeler relinquished its CIF license, but the company faced severe allegations from regulators across Europe. Rodeler concluded a settlement with CySEC and, on its basis, paid a fine of 280,000 EUR. In the last two reports, the regulator stated that it found several violations of the compliance of regulated companies. Some of them he considered as severe shortcomings in the mandatory AML / CFT measures.

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.


Last news:

Energy crisis in Europe:

Energy crisis in Europe: More companies in the sector go bankrupt

Every day, energy costs hit new records. At the same time, financial burdens in various ...
Read More
eToro with a 66% increase in commission income in the third quarter of 2021

eToro will close the fourth quarter with approximately $290 million in commission income

EToro, which is on track to go public in the United States through its merger ...
Read More
Will China live up to the trade promises made to the US?

Will China live up to the trade promises made to the US?

The signing of a trade agreement between China and the US in January last year ...
Read More
fpmarkets broker adds 550 CFDs per stock

FP Markets is expanding its offer with more assets

The FP Markets broker has expanded its offer with new products available on the MT4 ...
Read More

Add a comment

Your email address will not be published. Required fields are marked *


Note: Opinions and posts on represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. assumes no responsibility or liability for such content.
Go to top