IronFX Renames Its UK-Based Company to 8SAFE UK Limited

Finance Magnates has identified a regulatory filing revealing that the UK Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) regulated unit of IronFX has been renamed. According to an official notice in the Companies House, IronFX Global UK Limited has been officially renamed to 8SAFE UK Limited.

The move happens only a couple of months after the departure of the CEO of the IronFX Global UK Limited, Stefanos Mitsi.

Commenting to Finance Magnates, a company spokesperson said, "This is purely a legal name change and does not affect the operating companies that will continue being branded as IronFX. Our FCA licence remains the same with registration no. 585561."

In the meantime, some of the brokerage's clients who have had their withdrawal requests pending for months were contacted by the Cypriot Financial Ombudsman. The institution which has been collecting a €20 administrative fee for every complaint filed against IronFX, has stated that due to the high volume of work on the case it has taken a three month extension to complete its investigation.

The UK subsidiary of IronFX, IronFX Global UK Limited, has been regulated by the FCA since 2013 as a matched principal broker. As such, the UK company of IronFX could have been exposed to the Swiss National Bank (SNB) events from earlier this year.

In contrast to the Cyprus headquartered IronFX Global Limited which is a market maker, the UK-based entity could have been left exposed to the excessive moves in the Swiss franc pairs on 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 market on the 15th of January, 2015.