Finance Magnates has learned that the forex and CFD
trading platform HYCM (Europe) is voluntarily renouncing its CIF License. In a
statement published on its website, the company mentioned it will no longer
accept new clients or open new accounts for EU-based individuals.
Additionally, the company is in the process of
terminating all existing EU-based clients and ensuring they are informed about
the procedures for the return of their funds. However, the firm has not
provided specific details regarding the reasons for this decision.
HYCM Europe wrote: “We would like to inform you
that HYCM (Europe) Limited (the Company), hereby notifies you that is in the
process of voluntarily renouncing its CIF License with authorization number
259/14.”
“Therefore, the Company will no longer accept any
new EU-based clients and/or the opening of any new EU-based accounts while it
is in the process of terminating all its existing EU-based clients and
informing them about the procedure that should be followed for their fund’s
return.”
Source: HYCM
The brokerage firm has directed clients seeking clarification to compliance@hycm.com and those with complaints to send their
emails to complaints@hycm.com. Finance Magnates contacted HYCM for comments and will update this article once we get their feedback.
Expect ongoing updates as this story evolves.
Finance Magnates has learned that the forex and CFD
trading platform HYCM (Europe) is voluntarily renouncing its CIF License. In a
statement published on its website, the company mentioned it will no longer
accept new clients or open new accounts for EU-based individuals.
Additionally, the company is in the process of
terminating all existing EU-based clients and ensuring they are informed about
the procedures for the return of their funds. However, the firm has not
provided specific details regarding the reasons for this decision.
HYCM Europe wrote: “We would like to inform you
that HYCM (Europe) Limited (the Company), hereby notifies you that is in the
process of voluntarily renouncing its CIF License with authorization number
259/14.”
“Therefore, the Company will no longer accept any
new EU-based clients and/or the opening of any new EU-based accounts while it
is in the process of terminating all its existing EU-based clients and
informing them about the procedure that should be followed for their fund’s
return.”
Source: HYCM
The brokerage firm has directed clients seeking clarification to compliance@hycm.com and those with complaints to send their
emails to complaints@hycm.com. Finance Magnates contacted HYCM for comments and will update this article once we get their feedback.
Expect ongoing updates as this story evolves.
