Legal Dispute with CySEC regulated Cypriot Investment Firms (CIFs)


The Cyprus Securities and Exchange Commission (CySEC) is the independent financial regulatory agency of Cyprus, overseeing the investment services market, securities transactions, collective investment schemes, and asset management companies. Established in 2001, CySEC’s primary mission is to ensure the protection of investors and the healthy development of the securities market in Cyprus. As a Cypriot Investment Firm (CIF) can operate through its license in the European market and offer its investment services also outside Cyprus, investors residing in another EU member state may also face bad practices from Cypriot Investment Firms, resulting in the total loss of their funds. 

Legal Dispute with CySEC regulated Cypriot Investment Firms (CIFs)
Screenshot from the SySEC website – Legal Dispute with CySEC regulated Cypriot Investment Firms (CIFs)

Regulatory Framework

CySEC operates under the framework established by the Cyprus Securities and Exchange Commission Law of 2009 and the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017). This framework aligns with the European Union’s Markets in Financial Instruments Directive II (MiFID II), which aims to increase transparency across the EU’s financial markets and standardize regulatory disclosures.

Key Aspects of the Regulatory Framework

  1. Authorization and Licensing: CIFs must obtain a license from CySEC to operate. The licensing process involves a thorough evaluation of the firm’s structure, governance, and financial standing to ensure compliance with regulatory requirements.
  2. Capital Requirements: CIFs are required to maintain a minimum level of capital to ensure they can meet their liabilities and protect clients’ assets.
  3. Conduct of Business: CIFs must adhere to strict conduct of business rules, including ensuring that they act honestly, fairly, and professionally in the best interests of their clients.
  4. Transparency and Reporting: Regular reporting and transparency are mandated to keep CySEC informed about the financial health and operations of CIFs. This includes annual audited financial statements and other periodic reports.
  5. Investor Protection: CySEC emphasizes protecting investors through various mechanisms, including the Investors Compensation Fund (ICF) for clients of CIFs, which provides compensation in cases where a CIF fails to meet its obligations.
  6. Supervision and Enforcement: CySEC conducts regular supervision through on-site inspections and ongoing monitoring. Non-compliance with regulations can result in sanctions, including fines and license revocation or suspension.

Legal Issues for EU Investors

While CySEC’s regulatory framework is designed to protect investors, EU investors still face various legal issues when dealing with CIFs. Some common legal challenges include:

  1. Fraudulent Activities: Despite regulatory oversight, some CIFs may engage in fraudulent activities such as misrepresentation of investment products, unauthorized trading, or misappropriation of client funds.
  2. Misleading Marketing Practices: Investors may be lured by aggressive and misleading marketing practices, promising unrealistic returns or downplaying the risks involved.
  3. Lack of Transparency: Some CIFs may not provide sufficient information about their operations, fees, or the nature of their investment products, leading to uninformed decision-making by investors.
  4. Dispute Resolution: Investors may face challenges in resolving disputes with CIFs, especially when it comes to recovering lost funds or compensation claims.
  5. Compliance Issues: CIFs may fail to comply with CySEC regulations, resulting in financial losses or legal complications for investors.

How the Financial Fraud Lawyer Network Can Assist You

If you have lost your funds with a Cypriot Investment Firm (broker) regulated by CySEC listed below, do not hesitate to contact our lawyers to recover your lost funds and resolve your dispute.  

Our lawyers will represent you to recover your lost funds as follows:

  1. Case Evaluation: Our lawyers provide a thorough evaluation of your case to determine the viability of your dispute resolution against the CIF involved.
  2. Negotiation: Our advocates will try to negotiate directly with CIFs and other involved parties to reach favorable settlements for you.
  3. Legal Representation: If an out-of-court resolution is not possible, our expert lawyers represent investors in the whole dispute resolution process, including before Alternative Dispute Resolution institutions, litigation and arbitration, to recover your lost funds and seek compensation.
  4. Regulatory Complaints: Our expert advocates will assist in filing complaints with regulatory bodies such as CySEC, ensuring that the regulatory framework is enforced.

Authorized Cypriot Investment Firms (CIFs)

As of the latest update, the list of authorized CIFs can be found on the CySEC website under the section Approved Domains. This list is periodically updated to reflect the current status of licensed CIFs.

List of Authorized CIFs (As of 15 Juin 2024)

Regulated EntityApproved Domains
26 Degrees Global Markets (EU) Ltd (ex Invast Financial Services (EU) Ltd) 
3D Global Financial Services
50CoinsCY Ltd (ex UR Trade Fix Ltd)
7Q Financial Services
A. Eternity Capital Management Ltd
A.J.K. Wealth Management
A.N. Allnew Investments;;
A.T.I. Associates (Cyprus)
Abris-Cee Holdings Ltd;
AC Markets (Europe) Ltd;;;;
Accuindex EU
Admirals Europe Ltd (ex Admiral Markets Cyprus Ltd);
Aeonic Securities C.I.F.
Afterprime Europe 
Albourne Cyprus
Alfa Capital Markets
ALMA Europe
Amana Capital Ltd
AMP Global
APME FX Trading Europe;;;
Aquilla Nummus
Argus Stockbrokers;
Aristeus Financial Services
Arumpro Capital Ltd
ATFX Global Markets (Cy);
Athlos Capital Investment Services;;
Atlantic Securities
Axia Ventures Group;;
Ayers Alliance Financial Group
Ayomi Financial Services Limited
B.I.S. Blueport Investment Services Ltd
B2B Prime Services EU Ltd (ex Menasecurities Ltd);;
Banxso Ltd (ex XF Services Ltd);
BCM Begin Capital Markets CY;;;
Best Choice FBC;;;;;;;;; www.finfx;;;;;;;;;;;;;;;; 
Blacktower Financial Management (Cyprus)
Boson Alfa
Brickhill Capital (CY)
Broctagon Prime
BrokerCreditService (Cyprus)
BUX Europe Ltd;;;
Capital Com SV Investments Ltd
CDJ Social Stocks
CEX Markets Ltd
Chase Buchanan
Colmex Pro;
Conotoxia Ltd;;;;;;
Credit Financier Invest (CFI);;;;
Crowd Tech
Crowdbase Ltd
CTS Cloud Trading Solutions
D.T. Direct Investment Hub;;
Doto Europe Ltd (Ex Vasby Capital Markets Ltd);;;
Dragon Capital (Cyprus);
Easy Forex Trading;;;;;
EDR Financial;
EFG Cyprus;
Eight Plus Capital Ltd;;
Eightcap EU Ltd
Elidi Securities Ltd(ex UGM Securities Ltd)
Emporium Capital K.A;;;;
Equiti Global Markets Ltd
Etoro (Europe);;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; 
Eurotrade Investments RGB;;;
Exclusive Change Capital
Exelcius Prime Ltd;;;
Exness (Cy)
EXT Ltd;;;
Fathom Wealth Management Advisors
FIBO Markets Ltd (ex FIBO Group Holdings Ltd);;;;
Fidus Investments Cyprus
Finquotes Financial (Cyprus) Ltd
First Prudential Markets;
Forex TB;
Fortrade Cyprus
FP Asset Management Cyprus Ltd
Freedom Finance Europe Ltd;;;;;;;;;;
FX Central Clearing
FXPRO Financial Services;;;;;;;;;;;;;;;;;;;;;;; 
GBE Brokers;; 
General Capital Brokers (GCB);
Global Capital Securities & Financial Services
Global Trade CIF Ltd;
Go Markets Ltd (ex Galactus Ltd);
Goldenburg Group; 
GPB Financial Services
Grandis Securities
Granfeld Wealth Management
Greenpost Trading Europe 
Growell Capital;
GT Investment Services
GVD Korimcy
GWG (Cyprus),
Harindale Ltd
HF Markets (Europe);
Holborn Assets Wealth Management (CY) 
Hoxton Capital Management (Europe);
HTFX (EU) Ltd (EX CDG Global (EU) Ltd)
HYCM (Europe);;
I.F. Greenfields Wealth
I.W.G International Wealth Group 
IC Markets (EU); 
IFCM Cyprus;;
IGM Forex
Indication Investments Ltd
Initial Merit Secure Ltd
Instant Trading EU;;;
IQOption Europe;
ISEC Wealth Management;
Itrade Global (Cy);; 
JFD Group;;;; 
Key Way Investments;;;;;;;;;;;
Kleis EU 
Klips CY
L.F. Investment
Lifegoals Financial Services Limited (ex Emergo Wealth Ltd);;;
Lime Trading (CY) Ltd (ex Just2trade Online Ltd);; 
Liteforex (Europe);;;;;;;;
LMAX Broker Europe;
London Capital Group (Cyprus);
Luna Wealth Asset Management
Lydya Financial;
Magic Compass
Magnasale Trading;
Marcuard Ηeritage (Europe)
Maxigrid ; ; ;
MCA Intelifunds;;;
Mega Equity Securities and Financial Services Public;
MEX Europe
MIND MONEY LIMITED (ex Zerich Securities Ltd)
MiTrade EU Limited
Mount Nico Corp;;;
Naga Markets Europe;;
Naxex Invest Ltd;
NBI Investments
NFS Network Financial Services; 
Notely Trading
Notesco Financial Services;;
Numisma Capital Ltd;
OBR Investments
Octa Markets Cyprus;;;;;;;;;;;;;;
OEXN Limited;
Omega Funds Investment
One Plus Capital;;; 
Oqtima EU
Otkritie Broker
Pegase Capital;;;;
Pelican Exchange Europe (CY)
Pepperstone EU Limited 
Performance Ronnaru Company;
Plum Money CY Limited 
Pricewaterhousecoopers Investment Services (Cyprus)
Primus Global;
Prior Capital Cy;
Prochoice Chrimatistiriaki Ltd
Prodigit Investments;
Prospergate Capital
Pruden Ventures Capital;
Pulp International Business Ltd
R.I.A.L Raising Investment Advisory
Red Mars Capital,,
Redfin Capital
Redpine Capital;
Regency Asset Management (Cyprus)
Reliantco Investments;;
Renaissance Securities (Cyprus)
Roemer Capital (Europe) Limited
Ronin Europe
Royal Financial Trading (Cy) 
Royal Forex;
Rynat Trading;;;;
Safecap Investments Ltd;;
SC Workwealth Management Ltd
Shares Fintech 
Sheer Markets (Cyprus) Ltd;;;;;
SIB (Cyprus)
Skanestas Investments
Skybound Wealth Europe
SM Capital Markets;;
Solaris EMEA
Solid Financial Services
Squared Financial (CY);;
SSC Smart FX Ltd (ex Jin Daocheng Ltd)
StoneX Europe
Stratos Europe Ltd (ex FXCM EU LTD);;;;;;;;;;;;;;
Streams Financial Services;
Swissquote Capital Markets;;
T Markets EU Limited (ex NBH Markets EU Limited);
T.C.R. International
Tanius Technology Europe
TF Global Markets (Europe) Ltd (ex A-Conversio Capital Ltd);;;;;;;;; 
TFI Markets 
The Cyprus Investment and Securities Corporation
The First Interstellar Capital 
Tickmill Europe
TioMarkets CY
Titanedge Securities;;
Top Markets Solutions Ltd (ex Teletrade-DJ International Consulting Ltd);;;
Trade Capital Markets (TCM) Ltd;
Trading 212 Markets
Trading Point Of Financial Instruments Ltd;;
Trading.Com Markets EU Limited (ex Trading Point Asset Management Limited)
Triangleview Investments;
Triumph Int. (Cyprus)
Trust Capital TC Ltd
TTCM Traders Trust Capital Markets; 
UBK Markets
Ultima Markets Cyprus
Veles International
Viverno Markets Ltd
VM Vita Markets Ltd
VPR Safe Financial Group;;;; 
W.G. Wealth Guardian
WGM Services;;;;;;;
Windsor Brokers
Wisdompoint Capital;
Wise Wolves Finance
Wonderinterest Trading;;
X Global Markets;
XS Markets Ltd (ex RockFrost Ltd)
XSpot Wealth (EU) Ltd (ex X SPOT MARKETS (EU) LTD);
Zemblanco Investments
If you feel that your broker is liable for your losses, please contact us and we will provide you with a free preliminary analysis of the case.


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