Boursotrade Regains CySEC License After 11-Month Suspension

The Cypriot financial regulator today said that it has lifted last year's suspension of the CIF license of Boursotrade Ltd, which operates several brands, according to a decision made at a meeting held on February 12, 2018.

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Boursotrade Limited operates two Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options providers. The first brand is BoursePro which is a regulated FX and CFDs brokerage firm operating as a subsidiary of BoursoTrade ltd and also registered in France with the Authorité de controle prudentiel (ACPR) of the Banque de France. The second brand is a binary options broker called Boursebinary.

Boursotrade Ltd, which holds registration number 235/14, had its license temporarily suspended in March 2017 after 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 raised concerns over practices by the company and its executives that the watchdog deemed potentially not compliant with its regulatory obligations.

In particular, the broker was flagged for non-compliance with section 28(1) of the law which concerns persons who effectively direct its business, and an alleged violation of section 67 of the law (regarding the company’s funds), and Article 92(1) of the European Regulation 575/2013 (regarding capital adequacy ratio).

During this time, the broker was not allowed to provide any services, or enter into a business relationship with any person, or take on any new clients.

Around the time of the suspension, the binary options site went down, in what might have been a complete outage of the whole offering. Despite today’s development, no official statement has been made and no update is apparent.