NordFX, known for its
forex and CFD services, has raised concerns by using a previously
CySEC-regulated entity that now operates as a payment agent. NordFX informed FinTelegram
that the operator, NFX Capital VU Ltd, has transitioned its registration from
Vanuatu to St. Lucia. Traders are urged to note that their client agreements
are now with this unregulated offshore entity, and NordFX disclaims
responsibility for the accuracy of information on its site.
NordFX,
established in 2008 or 2009, has undergone legal entity changes across
jurisdictions. It was formerly operated in Europe by CySEC-regulated NFX
Capital CY Ltd, which later became Inveza Capital Ltd. Despite the Inveza
website being offline, the entity remains active as a payment agent for NordFX.
Previously
registered in Vanuatu, NordFX
is now based in St. Lucia and operates primarily in Asia, offering high
leverage of up to 1:1,000. However, the broker has experienced a significant
drop in website traffic, with a decrease from nearly 500,000 daily visitors to
around 233,000 in November 2023.
NordFX
claims to have more than 2 million clients and 29,000 affiliates, although
these numbers are under scrutiny for accuracy. Despite NordFX’s claim of not
accepting clients from North America and the EU, there is a possibility of EU
residents registering on the platform.
In
last two years, Vanuatu has transitioned from
being an offshore jurisdiction to regulating digital assets under the amended Financial
Dealers Licensing Act. Licensees like Deriv, TMGM, Axi, and Titan FX shared
their experiences, citing challenges such as staffing shortages and the need
for collaboration among regulatory bodies.
CySEC Takes Action: Inveza Capital Ltd Loses Operating License
The
Cyprus Securities and Exchange
Commission has
officially revoked the operating license of Inveza Capital Ltd, a company that
had previously decided to “expressly renounce it.” Although the
announcement was made recently, the regulatory board concluded the decision
over two months ago, on December 5, 2022.
Inveza Capital Ltd,
formerly known as NFX Capital Cy Ltd and Vinst Capital Limited, obtained its
license in August 2013, allowing it to provide investment services through the
website inveza.com. The revocation of the Cyprus Investment Firm authorization
was carried out in compliance with the Investment Services and Activities and
Regulated Markets Law.
NordFX, known for its
forex and CFD services, has raised concerns by using a previously
CySEC-regulated entity that now operates as a payment agent. NordFX informed FinTelegram
that the operator, NFX Capital VU Ltd, has transitioned its registration from
Vanuatu to St. Lucia. Traders are urged to note that their client agreements
are now with this unregulated offshore entity, and NordFX disclaims
responsibility for the accuracy of information on its site.
NordFX,
established in 2008 or 2009, has undergone legal entity changes across
jurisdictions. It was formerly operated in Europe by CySEC-regulated NFX
Capital CY Ltd, which later became Inveza Capital Ltd. Despite the Inveza
website being offline, the entity remains active as a payment agent for NordFX.
Previously
registered in Vanuatu, NordFX
is now based in St. Lucia and operates primarily in Asia, offering high
leverage of up to 1:1,000. However, the broker has experienced a significant
drop in website traffic, with a decrease from nearly 500,000 daily visitors to
around 233,000 in November 2023.
NordFX
claims to have more than 2 million clients and 29,000 affiliates, although
these numbers are under scrutiny for accuracy. Despite NordFX’s claim of not
accepting clients from North America and the EU, there is a possibility of EU
residents registering on the platform.
In
last two years, Vanuatu has transitioned from
being an offshore jurisdiction to regulating digital assets under the amended Financial
Dealers Licensing Act. Licensees like Deriv, TMGM, Axi, and Titan FX shared
their experiences, citing challenges such as staffing shortages and the need
for collaboration among regulatory bodies.
CySEC Takes Action: Inveza Capital Ltd Loses Operating License
The
Cyprus Securities and Exchange
Commission has
officially revoked the operating license of Inveza Capital Ltd, a company that
had previously decided to “expressly renounce it.” Although the
announcement was made recently, the regulatory board concluded the decision
over two months ago, on December 5, 2022.
Inveza Capital Ltd,
formerly known as NFX Capital Cy Ltd and Vinst Capital Limited, obtained its
license in August 2013, allowing it to provide investment services through the
website inveza.com. The revocation of the Cyprus Investment Firm authorization
was carried out in compliance with the Investment Services and Activities and
Regulated Markets Law.