Cyprus financial regulator CySEC has announced that it has withdrawn the CIF license suspension of Boursotrade Ltd.
We had reported in March 2017 that CySEC had issued a temporary suspension of Boursotrade’s license, due to “Persons who effectively direct the business”.
Boursotrade Ltd operated several website brands, including boursotrade.com, boursepro.com, and Binary options broker boursebinary.com.
Although its CIF license has now been reinstated, the company’s websites remain down for the time being (as per above), with the notice:
The Cyprus Securities and Exchange Commission (‘CySEC’) has announced on 17 March 2017 that the authorisation of Boursotrade Ltd (‘the Company’), with license number 235/14, is suspended. Based on the said decision the Company cannot enter into a business relationship with any person and take upon any new client. In relation to the previous clients of the Company and in the event where they would like to contact the Company in relation to any possible request and/ or query that they may have, they may contact us at the following email address
[email protected].
The full text of the CySEC announcement follows:
22 February 2018
CYSEC Decision
Announcement date: 22.02.2018
CySEC Decision date: 12.02.2018
Regarding: Boursotrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
The Cyprus Securities and Exchange Commission, further to its Decision published on 17 March 2017, informs the public that, at its meeting dated 12 February 2018, decided to withdraw the suspension of the authorisation of the Cyprus Investment Firm Boursotrade Ltd (‘the Company’), number 235/14, pursuant to section 26(4)(a) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’), as it has been satisfied that the Company has complied with section 28(1) of the Law, with regard to the authorisation and operating condition of section 12 of the Law and of section 18(2)(a) of the Law, with section 67 of the Law and with section 92(1) of the European Regulation No. 575/2013.