Fri, February 07, 2025

CySEC Revokes ICF Membership of Four Companies

Broker News

The CySEC withdrew the Investors Compensation Fund membership of four companies (ICF). The four companies are; Sharelink Securities & Financial Services, MPS Marketplace Securities, Woodbrook Group, and Finteractive.

The Cypriot regulator recently removed the ICF membership of multiple companies, some of which have also lost their CIF licenses. These businesses include iTrader, Daweda Exchange, and London Capital Group (Cyprus).

The regulator went on to say that even though a firm may lose its ICF membership status, this does not stop clients who were invested with the firm before it lost its position from receiving compensation under the Directive if they satisfy the conditions for eligibility.

Brokers Exiting Europe

Finteractive is a broker that offers FX and CFD trading services on FXVC. The company previously applied for a Cyprus license to serve customers in the European Union. However, it is still licensed in Seychelles.

MPS (previously SpotOption) offers various services, such as receiving and transmitting orders regarding one or more financial instruments, executing orders on the client’s behalf, providing custody of assets, and foreign exchange services.

The ICF deposit guarantees the return of customer funds up to €‎20,000 if their financial service provider becomes bankrupt or otherwise unable to return the money.

Recently, CySEC started compensating clients of Maxigrid who lost their licenses last February. Clients must submit their claims online or offline before April 2023.

YOU MAY ALSO LIKE

Число заявок на пособие по безработице в США сократилось на 2 000, что свидетельствует о стабильности рынка труда в условиях высоких ставок, а дальнейшие действия ФРС будут иметь решающее значение для экономической стабильности.

Quick Overview Unemployment Claims Dip: Jobless claims fell by 2,000 to 231,000,

Стерлинг достиг отметки $1,32: рост, риски и перспективы

Quick Look Sterling’s Surge: The British pound has surged to a 2.5-year

Доу Джонс вырос на 243 пункта, установив новый рекорд на отметке 41 335,05

Quick Overview Dow Jones Hits Record: The DJIA rose by 243.63 points,

COMMENTS

Leave a Comment

Your email address will not be published.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

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

BROKER NEWS