FXFINPRO Capital Review – An Update To The Broker’s Regulatory Status & FX Services
FXFINPRO Capital has a desirable Forex brokerage service that offers ECN/STP conditions to its traders without any reservations. Unlike other Forex brokers that claim to be a direct market access broker with a hybrid STP account, FXFINPRO has straightaway offered its DMA accounts as the standard product for all clients that wish to trade the Forex markets with the company. The brokerage is owned and operated by PFX Financial Professional Ltd, a company based in Cyprus that has been active since 2003. FXFINPRO was regulated by the Cyprus Securities and Exchange Commission (CySEC), until the November of 2016, but there has been a new advisory from the CySEC regarding an alleged suspension of CySEC license due to the noncompliance of the broker with regulatory protocols. The company has been alleged to have its shareholders or company executives perform in contradiction to the rules laid down by the CySEC on offering its services to clients, which has received a temporary ban in the form of suspension of license. Therefore, until the issue is resolved, traders are warned of opening an account or trading with the company. Existing FXFINPRO clients are also encouraged to withdraw their funds, and get in touch with CySEC or the financial ombudsman if they are facing any difficulties in making a withdrawal.