Alfa Capital Voluntarily Revokes its CySEC Licence

​Cyprus-based investment company Alfa Capital has decided to give up its CySEC CIF license with Number 025/04. It’s not clear why the company abandoned its ambitions to operate under the CySEC umbrella, but the surrender of the license is entirely voluntary based on the company’s decision and does not arise as a result of any regulatory action.

Though the announcement was made on October 21, 2020, the decision was finalized by the regulator on October 5, 2020.

The Cypriot regulator stated that the firm “had notified CySEC of its decision to expressly renounce its Cyprus Investment Firm (CIF) authorization and, at its meeting on October 5, 2020, CySEC has approved, pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05.”

Alfa Capital will no longer be providing any investment services and will have ceased accepting new clients and deposits. Clients with open positions have been asked to close their open trades and withdraw their funds .

According to CySEC’s register of investment firms, Alfa Capital Holdings (Cyprus) Ltd operates the website http://www.alfacapital.com.cy, offering the services of Alfa Capital Markets, is currently active, with the latest news there being from the end of September. The products being offered include Forex, equities and fixed income.