Cyprus Securities and Exchange Commission withdrew the license
of Reliantco Investment Limited, an entity operating UFX.com. The license was suspended reportedly because the entity has not provided any investment
service in the past six months.
Suspension of Services
UFX was a retail broker providing forex and contract for
difference (CFD) services but now appears to have been closed down. Last year,
the message on the company’s website mentioned that it no longer offered
investment services for users in several locations.
“CySEC, on its meeting of 30th October 2024, has decided to withdraw the Cyprus Investment Firm authorization with Number 127/10 of Reliantco Investments Ltd as the Company has not provided investment services or performed investment activity for the preceding six months,” the regulator wrote.
Early last year, the broker also blocked users from opening
new accounts and renounced its Cyprus Investment Firm (CIF) license. CySEC’s registry
reportedly showed that the watchdog was examining the company’s “voluntary renunciation of the authorization.” According to CySEC’s website, Reliantco also operates three other domains: www.ufxaffiliates.com, www.ufxpartners.com,
and ufx.company.
Expect ongoing updates as this story evolves.
Cyprus Securities and Exchange Commission withdrew the license
of Reliantco Investment Limited, an entity operating UFX.com. The license was suspended reportedly because the entity has not provided any investment
service in the past six months.
Suspension of Services
UFX was a retail broker providing forex and contract for
difference (CFD) services but now appears to have been closed down. Last year,
the message on the company’s website mentioned that it no longer offered
investment services for users in several locations.
“CySEC, on its meeting of 30th October 2024, has decided to withdraw the Cyprus Investment Firm authorization with Number 127/10 of Reliantco Investments Ltd as the Company has not provided investment services or performed investment activity for the preceding six months,” the regulator wrote.
Early last year, the broker also blocked users from opening
new accounts and renounced its Cyprus Investment Firm (CIF) license. CySEC’s registry
reportedly showed that the watchdog was examining the company’s “voluntary renunciation of the authorization.” According to CySEC’s website, Reliantco also operates three other domains: www.ufxaffiliates.com, www.ufxpartners.com,
and ufx.company.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
