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CySEC withdraws license of Forex broker HYCM

Maria Nikolova 0 Comments June 18, 2024

The Cyprus Securities and Exchange Commission (CySEC) today announced the withdrawal of the Cyprus investment firm (CIF) authorisation of HYCM (Europe) Ltd.

CySEC made the decision at its meeting held on June 10, 2024. The withdrawal is in line with section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of Directive DI87-05 and is due to the company’s decision to expressly renounce its authorisation.

HYCM is a Forex and CFD broker. It was authorized to operate via the following approved domains: www.hycm.eu; https://help.hycm.com; www.henyep.com.

Earlier in 2024, FNG reported that HYCM is changing hands, in a management buyout.

The following message is displayed on HYCM’s website:

Maria Nikolova

Maria has been engaged in journalism for more than 17 years, providing Forex industry coverage for the past 10 years. Before joining FNG she was Managing Editor at FinanceFeeds. Prior to that, she worked at LeapRate. Maria has a Philosophy degree from the St. Kliment Ochridski university in Sofia. She has specialized in Cognitive Science in Vienna. Her interests include psychology, AI, and linguistics.