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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 (https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=08533c8a-1fb2-453a-b10b-032adb0efb48) and
- Magnum FX (Cyprus) Ltd (https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=1ff86599-313d-4f4d-b037-4d28df4858dc), both authorised to operate in Italy under the freedom to provide services.
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)