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CySEC reinstates in full XTrade's license

Jun 27 2017
By
Jonathan Smith ,

The Cyprus Securities and Exchange Commission (CySEC) announced it has reinstated in full the license of the forex broker XTrade.

 

We remind you that in the end of May the regulator has partially suspended the broker's license, forbidding it to take in new clients. The reason was that XTrade's marketing materials were not providing clear and concise information and were misleading. Another reason was that the broker did not seem to have procedures ensuring the clarity of the information. Upon imposing the restrictions, CySEC gave XTrade one month to comply with the legal requirements of the license.

 

During the suspension period, the broker was only allowed to service its existing clients, but not to sign up new one, nor to disseminate advertising materials.

 

According to the most recent statement of the regulator from June 26, the XTrade has taken the necessary measures to satisfy the requirements and the partial suspension has been lifted on June 19.

 

Xtrade is a brand operated by Xtrade.Europe Ltd., which is authorised and regulated by the by the Cyprus Securities and Exchange Commission (CySEC). The broker that offers trading in a variety of instruments on its in-house web platform with leverage up to 1:400 and spreads fixed at 2 pips on EUR/USD. Besides, Xtrade regularly launches various promotions and is an official sponsor of Cristiano Ronaldo.

 

 

TAGS: xtrade  cysec 

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