Abstract:Hoch Capital Ltd, which operates under many broker names, had its regulatory registration terminated on Friday by the Cyprus Securities and Exchange Commission (CySEC).
It owns and runs brands such as itrader and tradeATF.
It has already settled with CySEC for many suspected instances of non-compliance.
Hoch Capital Ltd, which runs various broker names, had its regulatory license revoked by the Cyprus Securities and Exchange Commission (CySEC) on Friday.
The regulatory decision to remove the license was made on March 28, 2022. Hoch Capital has also opted to surrender its Cyprus Invest Firm (CIF) license, according to the statement.
Hoch Capital owns trading websites such as itrader.com and tradeATF.com. Their product portfolio includes FX and contracts for difference (CFDs) on major asset classes.
Hoch Capital, on the other hand, remains divisive due to many charges of noncompliance with necessary regulatory obligations. In December 2020, the business reached an agreement with CySEC and paid a €260,000 fine for various potential compliance issues, including conflicts of interest and information given to clients.
Furthermore, the Cypriot supervisor temporarily banned Hoch Capital's and a few other brokerage operators' licenses in June 2020 due to their involvement in advertising their goods in the United Kingdom. They were warned by the FCA for employing phony celebrity endorsements for their goods on social media.
Furthermore, Hoch ran into regulatory issues in Italy. Furthermore, the local authority, CONSOB, barred its brokerage brand, tradeatf.com, from operating in the nation due to noncompliance.
Cyprus is a popular location for financial services organizations to locate their headquarters. The island's low regulatory entry barrier makes it an ideal jurisdiction for European-bound firms to establish a base.
However, CySEC has been exceedingly watchful and is aggressively reporting and prosecuting any infractions. Earlier this year, the regulator revoked Maxigrid and PMT Matrix Capital's CIF licenses and penalized a few other entities.
The Cypriot supervisor even issued a warning to all regulated enterprises about Russian persons and organizations attempting to use their platforms to bypass sanctions.
eToro strengthens its Australian market presence with the $80M AUD acquisition of Spaceship, expanding its long-term savings and superannuation offerings.
OANDA Japan Inc., a subsidiary of the global online broker OANDA Corporation, has announced the termination of its Tokyo Server MT4 Discretionary Plan. The broker has notified its clients that the plan will no longer be available after December 13, 2024, marking a shift in the company's services for clients using the MetaTrader 4 (MT4) platform in Japan.
Updated forex analysis shows USD weakness, focusing on key levels like EUR/USD, DXY bearish trend, and pivot points for major currency pairs.
TradingView and MetaTrader based on ease of use, customization, broker integration, and automation to find the best platform for your trading style.