Airfinance works with many binary options and online CFD trading platforms, including Porto F.C. of Buzztrade.
Financial regulator of Cyprus CySEC What is the license Cyprus Investment Firm (CIF) was discontinued, which extended to AirFinance Pro Ltd, a company formerly known as YTF Trade Limited, the decision not to issue a license and ban the company’s activities was made on September 26, 2016.
This measure of restraint was chosen in order to stop the work of brokers who have a bad reputation and do not have any registration, In Cyprus, such brokers appear more and more often. The regulator is trying to protect clients from unlicensed brokers who are notorious for their predatory practices.
AirFinance Pro Ltd Is Owner Several Brands Providers Services along Binary Options and Other Financial Services. License Company Was Suspended in June, after Togo, how in CySEC has received complaints about the company’s work, namely that the company does not fully adhere to its statements regarding the work practices.
CySEC extended the punishment until August, as there were still accusations against the company, due to the fact that its activities were contrary to the interests of customers and investors, as well as the norms of behavior in the financial market. The ban was extended until mid-September, during the time allowed AirFinance had to put its activities in order to comply with CySECC standards and apply for the restoration of the license.
In an official statement, CySEC explains that the ban was imposed in June and applies to all of the company’s websites, including BuzzTrade and UpTrade7, as well as Area and CFDRoyal, it is forbidden to conduct any type of business and register clients.
Moreover, AirFinance Pro must, if the client so wishes, close any position on the contract (either now or earlier, if the client so wishes), and return to all existing clients their funds and earned profits, if the client so wishes.
Tagged with: Binary Options News • CySEC
