Financial Conduct Authority suspends AFX Markets Licence

August 22, 2019 at 03:58 PM

The FCA has announced its decision to suspend the financial services license of AFX Markets.

On its official website www.stofs.com, the company has mentioned that the Financial Conduct Authority has notified AFX Markets Ltd, FRN: 560872 that must close all open trading positions held by it, whether on its own account or on accounts of its clients by no later than 7 August 2019. Two other company’s websites, ICEFX UK and Quantic Prime, are not accessible.

After the firm closes all its open positions of its clients it will become obligatory to hold all client money segregated for clients in accordance with the client money rules of FCA. 

A few weeks earlier, the CySEC has suspended the license of the company in Cyprus. Previously, the company has stated that suspension is on a temporary basis and will end in 10 days. However, they haven’t confirmed the restart of the operations yet. According to the CySEC’s website, the company’s license remains suspended. 

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