FNG Exclusive… FNG has learned that Cyprus based Retail FX and CFDs broker BDSwiss has “gone offshore”. The BDSwiss brand, at website bdswiss.com, is now operated by a Seychelles domiciled company, BDS Ltd.

The BDSwiss brand had also been operated for the past few years from Cyprus based, CySEC licensed BDSwiss Holding Ltd. However BDSwiss Holding Ltd changed its name earlier this year to Viverno Markets Ltd, with the group spinning out a new “B2B” brand called Viverno, offering liquidity and technology solutions to smaller CFDs brokers. As we reported yesterday, Cyprus regulator CySEC has now suspended the CIF license of Viverno, whose website (viverno.com) now just shows “Temporarily Unavailable”.

BDSwiss began a restructuring of its business last summer following the departure of CEO Nicolas Shamtanis, which has seen the company refocus away from the EU and towards clients from the MENA, LATAM and APAC regions. A number of Cyprus based senior executives have recently left the company, including CRO Andreas Andreou who has launched prop firm thePropTrade, Head of Account Opening Nita Georgiadou, and sales head Nicole Heinrich. The company’s MENA CEO Daniel Takieddine, who helped BDSwiss recently land a UAE SCA Category 5 license, has also left the company.

BDSwiss is controlled by Germany based entrepreneur Jan Malkus.