Home Trading CySEC revokes F1Markets’ CIF license

CySEC revokes F1Markets’ CIF license


F1Markets has the following information on its website:

We regret to inform that our company has decided to renounce authorization. Therefore, please be aware that F1Markets Ltd operating under the domains www.investous.com/eu as well as www.f1markets.com, will no longer have the ability to offer clients its investments or ancillary services.

F1Markets’ statement added that all client agreements with the company have ceased to be valid as of 19th of May 2022. The company stated that if any positions were still open, they would be automatically closed at the current market price.

The company reminded clients that customers with positive accounts balances should request withdrawal of their funds. Otherwise, the company will return the funds to the original source.

The reasons behind the F1Markets renouncing its license were not disclosed in CySEC’s press release.

Earlier in August last year, CySEC announced reaching a settlement F1 Markets Ltd for “possible violation” of the law in the amount of €150,000.

Recently, CySEC withdrew CIF authorisation for IFC Investments.

LeapRate’s first article, CySEC withdraws CIF license of F1Markets, appeared first on LeapRate.

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