Tag: Magnum FX

CySEC Compliance Issue – FCA bans FXVC for the UK market

CNMV Charlene Lensburg - April 17, 2021

Cyprus Investment Firms (CIF) regulated by CySEC are a problem for the security of the European financial markets. The CySEC CIFs work with illegal offshore mutations, fraudulent marketing campaigns, and target consumers and retail investors in the EU. Now the UK watchdog FCA has banned CySEC-regulated Finteractive Ltd d/b/a FXVC from UK clients. After Brexit, FXVC was allowed to operate under the Temporary Permission Regime (TPR) with the CySEC license in the UK.

Financial Mail calls Cyprus the ideal turf for rip-off operators and why CySEC should change its management!

CONSOB tamir - June 7, 2020

The decision of the UK regulator FCA to revoke the passporting for the CySEC regulated forex and CFD brokers Rodeler, F1Markets, Hoch Capital, and Magnum FX (Cyprus) for the UK market cannot be overestimated. Up to now, the individual EU regulators have been rather cuddly and, in the case of problems with notoriously weak regulators such as CySEC, have relied on the excuse of a lack of competence.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

Disclaimer: FinTelegram is an independent intelligence and compliance platform and does not provide investment, legal, or financial advice. Content published on this website, including references and links to third-party sources, is provided for informational, contextual, and educational purposes only and does not constitute a recommendation, endorsement, or solicitation. Readers must make their own independent assessment and obtain professional advice where appropriate. Past events and referenced materials are not a track record and should not be relied upon as an indicator of future results.