ACFX

The Cyprus Securities and Exchange Commission (CySEC) has suspended the license of Atlas Capital Financial Services Ltd, the parent company of ACFX, due to evidence of regulatory non-compliance. This decision follows complaints from Chinese clients regarding unprocessed withdrawal requests and increased overnight interest rates on oil contracts. CySEC has identified multiple violations, including inadequate risk management procedures and failure to safeguard client funds. Despite these issues, ACFX's website does not display a license suspension notice. The firm is required to close all open positions and return client funds upon demand within the month.

The Cyprus Securities and Exchange Commission (CySEC) has suspended the license of Atlas Capital Financial Services Ltd, the parent company of ACFX, due to evidence of regulatory non-compliance. This decision follows complaints from Chinese clients regarding unprocessed withdrawal requests and increased overnight interest rates on oil contracts. CySEC has identified multiple violations, including inadequate risk management procedures and failure to safeguard client funds. Despite these issues, ACFX's website does not display a license suspension notice. The firm is required to close all open positions and return client funds upon demand within the month.