The Malta Financial Services Authority (MFSA) has published a warning that Atlas Capital Financial Servivces, owner of the forex broker ACFX has been stripped of its Cyprus license by the CySEC.
Accordingly, this means that the company is no longer authorized to provide investment and ancillary services and activities as an investment firm.
“The Company is therefore no longer authorised to passport its services in Malta under Article 31 of the Markets in Financial Instruments Directive”, the MFSA said.
Furthermore, ACFX has three months to settle its obligations, the regulator noted and added that it advises the public not to respond to any offer of financial services from Atlas Capital.
Our check revealed that the website of the broker has been taken down, and unless it has moved its operations to another web address, there is no way for it to offer investment services.
ACFX used to offer trading in forex, metals, future and spot indices and stocks. It has partnership programs and several types of bonus programs. According to its website, the broker was regulated and authorized by CySEC and registered by UK’s Financial Conduct Authority (FCA). Now the FCA registration has also been suspended and the company is listed as “no longer authorized” and can no longer provide regulated products and services.
ACFX got in trouble with the CySEC last spring and got its license suspended for non-compliance. The suspension was extended several times, until the regulator finally terminated the license earlier this year.