2016 XForex CySEC fine was issued in October 2016, after the broker was suspicious of violating CySEC's regulations. Is XForex a reliable Forex broker?
2016 XForex CySEC fine was issued on the 25th of October 2016, after the broker was suspicious of violating CySEC’s regulations. Is XForex a reliable Forex broker?
XForex is a brand name of XFR Financial Limited. A Cyprus Investment Firm (CIF) authorised and licensed through the Cyprus Securities and Exchange Commission.
2016 XForex CySEC Fine of €225k
The Cyprus Securities and Exchange Commission (CySEC) issued a €225,000 fine against XFR Financial Limited. The parent firm owns and operates the Forex and CFDs brand names Xtrade and XForex. Moreover, CySEC imposed the €225,000 on XFR Financial Limited, due to a series of violations of XForex. Furthermore, the broker did not comply with the regulator’s Investment Services and Activities and Regulated Markets Law of 2007.
To attain more information about the 2016 XForex CySEC fine. Look up here the original monetary fine notice of CySEC.