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F1Markets Ltd - Magnum FX (Cyprus) Ltd - Hoch Capital Ltd

  • Hardman & Brookes (www.hardmanbrookes.com) with stated address in Zurich.

The Cyprus Securities and Exchange Commission (CYSEC) reports that it has ordered, with effect from 1 June 2020, the partial suspension of the authorisation to provide investment services granted to Cypriot companies:

F1Markets Ltd and Magnum FX (Cyprus) Ltd may not accept new clients and may not advertise as investment service providers from 1 June 2020 (unless such decisions are revoked).

The same Cypriot supervisory authority also reports that, with effect from the same date of 1 June 2020, it has ordered the total suspension of the authorisation to provide investment services issued to the Cypriot company Hoch Capital Ltd (https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=ddc8f8e1-7660-4d8e-b3f2-902cf2109a25), already the subject of a Consob precautionary measure prohibiting the exercise of activities in Italy and still in force (see Resolution no. 21171 of 5 December 2019).

It should be noted that the following websites can be traced back to these Cypriot companies:

  • F1Markets Ltd: www.f1markets.com; www.StrattonMarkets.com; www.24CM.com; www.investous.com/eu; www.europrime.com/eu.
  • Magnum FX (Cyprus) Ltd: magnumfx.eu; ETfinance.eu.
  • Hoch Capital Ltd: www.hochcapital.com; www.itrader.com; www.tradeATF.com.

CONSOB invites investors to carefully consult the lists of investment firms actually authorised to operate in Italy (http://www.consob.it/web/area-pubblica/imprese-di-investimento1) as well as the investor protection warnings (http://www.consob.it/web/area-pubblica/avvisi-ai-risparmiatori) and in any event to be careful before making investment decisions.

(Published in "Consob Informa" no. 22/2020 of 8 June 2020)