Cyprus Securities and Exchange Commission Revokes Royal Forex Ltd's License

On March 11, the Cyprus Securities and Exchange Commission (CySEC) announced the revocation of Royal Forex Ltd's financial services license.

The regulator said that CySEC made this revocation decision at a meeting held on February 24 this year, in accordance with the Investment Services and Activities and Regulated Markets Law.

Royal Forex Ltd, a company carrying out retail FX and CFD brokerage services, held a Cyprus Financial Services License 269/15 to provide relevant financial services to its clients through the websites Roinvesting.com and RoyalForex.com.

In 2022, the Cypriot regulator concluded that Royal Forex Ltd may have violated regulatory rules between July 2020 and October 2021. The company eventually reached a settlement with the regulator and paid €120,000. However, this is not the first time the company has settled with CySEC.

Before that, Royal Forex Ltd had agreed in October 2020 to pay a €270,000 fine to CySEC in another case.

Currently, regulatory information about Royal Forex is no longer searchable in the list of regulated firms on the CySEC website.