Breaking: Malta Regulated Brokerage RTFX Closes Down Voluntarily

One of the pioneers on the retail side of the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term markets, RTFX Ltd, formerly known as Realtime 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 SA has issued a short announcement on its website that informs its clients that it is shutting down its operations.

RTFX Ltd will be closing doors after getting regulated and operating within the jurisdiction of the Maltese Financial Services Authority (MFSA) since 2009. The former Swiss broker has relocated its operations after the local authorities have started requiring a Swiss banking license in order to provide foreign exchange services to retail investors.

The brokerage will be closing its doors starting tomorrow (29th of May) after its asset management division made it into the Barclay Hedge top performers on a couple of occasions in 2013 and 2014.

This latest development adds some substance to a number of market rumors heard by Finance Magnates reporters that the local regulator in Malta is attempting to squeeze foreign exchange brokers out of the island.

Realtime Forex was established in 2000, after starting its business way back in 1995 under the name Gay, Glauser & Cie. The firm launched its asset management services in 2009 under the MFSA regulatory environment.

According to the official communique published on the website of RTFX the firm requested that the MFSA accepts the surrender of the company’s category 3 investment services license which permitted it to provide broker and asset management services.

The company’s announcement highlights, “This request is voluntary and does not arise as a result from any regulatory action taken by the MFSA.”