Do not invest more money than you can afford to lose.
Topic Markets Ltd., owner of the forex and CFD broker TMFX, has renounced its license, said the Cyprus Securities and Exchange Commission.
According to the announcement, this happened on May 5, 2017. The company has three months to settle and until it does, it remains under the supervision of CySEC.
Neither the watchdog, nor the company, provide further details.
TMFX does not provide any regulatory information on its site and does not appear to have a license from another regulator, so its fate from now on is unclear. The broker offers trading in forex and CFDs on the popular MetaTrader 4 platform.
TMFX is the second forex broker to renounce its Cyprus license in the past few weeks. Recently another one – HiWayFX – has also renounced its license.