ACFX, a Forex and CFD broker headquartered in Cyprus, has been suspended by CySEC over concerns that it breached the terms of its license
In a board decision published on April 7th 2016, CySEC announced the suspension of the company's license with number 085/07.
CySEC's declaration alluded to "violations [that] may possibly endanger the Company's clients's interests or generally the regular operation of the capital market." Insiders tell us that these events were triggered by a shareholder's decision to withdraw his or her equity from the company.
Since, ACFX has frozen all client withdrawals even though CySEC's decision states that ACFX must "return to existing clients all of their funds and profits earned."
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