CySEC Fines EZ Trader Operator €340,000

The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) announced that it has imposed a fine of €340,000 on the operator of online binary options Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term EZ Trader –WGM Services Ltd.

According to the regulator, the company violated five different regulations, including two concerning money laundering and terrorist financing, and three other relating to the laws governing the provision of investment and trading services by Cyprus Investment Firms (CIFs).

The regulator noted that the company has taken steps to remedy matters, such as compensating clients to whom it had provided investment management services without authorization and repaying clients who sought money owed to them.

The fine against EZ Trader’s operator is the biggest one in a series of penalties announced today by CySEC, including a €335,000 settlement with IronFX, and a €300,000 fine for Pegase Capital, operator of three binary options trading platforms.