Tuesday , 26 September 2017
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CySEC suspends the license of AirFinance (Buzztrade)

Auteur :

We have just been informed that the Cyprus Financial regulator CySEC suspended the CIF trading license of broker holding AirFinance Pro Ltd. The suspension of the license thus applies to all Airfinance trading brands including famous Buzztrade, Uptrade7, CFD Royal and Investing Area. The holding company operates multiple binary options and CFD trading online platforms. On its official website, the CySEC issued a note stating that it has suspended the trading license of the broker for all theses brands after concerns regarding the safety of clients’ funds.


CySEC is concerned about capital requirements at AirFinance

In the official release, the CySEC explains that certain AirFinance’s processes could endanger clients’ interests considering the holding company has not been compliant with its reporting and filling obligations towards the regulator. As we often explained on this website, brokers have to comply with strict requirements imposed by the regulator in order to maintain their trading license. Those requirements are regularly tested and investigated by the regulator that act as a watchdog for international investors and aim to protect clients’ interests.

AirFinance has one month to address these concerns and take the necessary steps to solve the identified problems. If the broker fails to comply with the CySEC provisions within one month, the regulator will trigger the procedure for the revocation of all the trading brand authorisations to operate in Europe. During the License suspension, the trading brands of Airfinance (Buzztrade, Uptrade7, CFD Royal and Investing Area) cannot onboard any new clients nor execute any orders on behalf of their existing clients. Clients can close their existing positions and all these trading brands have to return clients all their funds upon any request. If you face any difficulty with one of Airfinance’s trading brands, you can contact the regulator’s Ombudsman that will be able to handle your complaint in a timely manner.

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We recommend investors to exercise an extreme caution regarding the regulation of their broker. Remember that you must always check that your broker is regulated in Europe (most of the time by the CySEC in Europe) and that it is authorised to operate in your country (AMF for France, FCA for the UK, Consob for Italy…). You can easily find this information on the website of your domestic financial regulator. We highly recommend you to stick to our list of recommend brokers that all received all the necessary authorisations and trading licenses to offer their services across Europe.  They are the best binary options brokers out there with comparative advantages: Topoption offers the lowest minimum binary options deposit, Banc De Binary offers the best binary options bonus

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