CySEC Withdraws License of CFDs Broker Eurotrader

CySEC, the Cyprus financial regulator, has decided to withdraw the Cyprus Investment Firm (CIF) license of Eurotrade Investments RGB Ltd, which operated the Eurotrader CFDs brokerage brand in the EU. The regulator cited the company's non-compliance with requirements to have at least two persons effectively directing its business activities and with its organisational arrangements. As a result, the company no longer fulfils the conditions under which its authorisation was granted.

The Eurotrader group had held its CySEC CIF license since 2015. The websites operated by Eurotrade Investments RGB Ltd, eurotrader.group and eurotrader.eu, appear to now be offline. The brand also lost its UK FCA license, originally granted in 2022 to Eurotrade Capital Ltd (later renamed Asset Capital Management UK Limited). The eurotrader.com website now shows that the Eurotrader brand name is used by Eurotrade International Ltd, a company registered in Mauritius.

Following the withdrawal, CySEC said the company should immediately and without delay ensure that all references on its websites and elsewhere to the provision or performance of investment services or activities, as well as to its licensing and supervision by CySEC, are deleted. The company should also investigate and resolve all customer complaints brought before it and ensure that it does not provide investment and ancillary services.