CySec Announces Withdrawal of SonaFX Operator’s CIF License

The Cyprus Securities and Exchange Commission (CySEC) announced that it has withdrawn the Cyprus Investment Firm (CIF) authorisation with Number 174/12 of Sonaf Business Ltd, the operator of SonaFX that is an FX trading platform.

The CySEC stated that on its meeting of 11 October 2021, it has decided, 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, to cancel the CIF license, due to the indicated company’s decision to expressly renounce it.

SonaFX has issued a notice on its website:

We would like to inform you that the Company had decided, under its own initiative, to renounce its CIF license with authorization number 174/12 as of April 21st 2021. Therefore, starting April 21st 2021 and thereafter, the Company will not accept any new clients and existing clients will not be able to trade on their account or to enter any positions unrelated to the closing/termination of their open positions.