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MFX Brokers renounces its CySEC license

4 Jul 2013,
05:01

Belize based broker MFX had applied for and received Cyprus regulation in July 2012, but never activated the license.

LeapRate Exclusive…. LeapRate has learned that Belize based retail forex broker MFX Brokers, which operates under the brand names MasterForex, MFX Broker and MFX Trading Academy, has renounced its CySEC CIF license as of May 31, and is no longer regulated in Cyprus.

MFX had received its CySEC license last summer, but never formally activated it.

MFX continues to be licensed by Belize’s financial regulator IFSC.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

David Hobart

David Hobart

David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
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