Cyprus financial market regulator Cyprus Securities and Exchange Commission (CySEC) decided to impose a fine of EUR 30,000 on Leadcapital Markets Ltd. This company operates retail forex brokers Trade.com, Forex Yard and FINEXO.
According to the Cypriot regulator, the company did not act fairly, honestly and professionally in the interests of its clients, between August 2016 and last July.
In determining the amount of the fine, CySEC stated that it took into account the cancellation of the broker’s branch in Romania and changes in management.
Source: Leaprate, Lead Capital Markets