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Cyprus Regulator Cancels UFX's Financial License
On November 18, the Cyprus Securities and Exchange Commission (CySEC) announced the revocation of the Cypriot investment company license, number 127/10, of Reliantco Investments Ltd, the operating company of forex broker UFX.
CySEC made the decision at the meeting held on October 30th.
The company's license details page indicates that the company is “under examination for voluntary renunciation of the authorisation.”
Last year, UFX told visitors that the broker did not offer investment services to clients in some regions and had even stopped accepting new clients. Currently, several of UFX's websites are inaccessible.
The company had not carried out investment services for more than six months before the regulator revoked its license.
In addition to its Cyprus financial license, UFX was also licensed by the Vanuatu Financial Services Commission (VFSC) under No. 14581, which has been canceled according to the VFSC's October 22 update of its list of licensed financial dealers.
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