The broker M4Markets and the group behind it, the Oryx Group, announced that they have purchased the CySEC-regulated CIF ICC Intercertus Capital Ltd, which did business as Axiance. The CIF will now operate under the legal name of Harindale Ltd and do business with the trading name M4Markets Europe. After completing a capital raising round earlier in the year, they secured the approval of the Cyprus regulator, Finance Magnates reported.
Key Data
| Trading names | M4Markets M4Markets Europe ICC Intercertus Capital (Cayman) Limited |
| Domains | www.m4markets.eu |
| Social media | |
| Legal entity | Harindale Ltd, Cyprus Trinota Markets (Global) Limited, Seychelles Trinota Markets (UK) Limited, UK |
| Related individuals | Phanos Iacovou Panikos Teklos, CEO (LinkedIn) Marilena Iakovou, CMO (LinkedIn) Theofanis Nakos (LinkedIn) Deepak Jassal David Alagbada (LinkedIn) |
| Jurisdiction | Cyprus |
| Regulation | CySEC with license number 301/16 |
Regulatory Troubles
ICC Intercertus Capital has a fierce history with a wide variety of regulators. The CI originally operated the broker EverFX. The ICC Group has already been sanctioned for this by the UK FCA and the German BaFin. In May 2021, the UK Financial Conduct Authority (FCA) banned the ICC Group and EverFX from offering regulated financial services in the UK. The German BaFin did so in 2020.
In August 2022, CySEC announced that a settlement had been reached with the company for possible regulatory violations for the period January 2020 until May 2021. The company has agreed to pay and has already paid the amount of €100.000.
Given the damaged reputation with regulators, selling and renaming the entity was probably the most sensible solution.
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If you have any information about ICC Intercertus Capital, M4Markets, and its activities, please let us know through our whistleblower system, Whistle42.
