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Cypriot regulator withdraws license of EuropeFX operator Maxiflex

CySEC has withdrawn the Cyprus Investment Firm (CIF) license of Maxiflex Ltd, owner of brands such as EuropeFX.

Maxigrid was a CySEC CIF licensed Retail FX and CFD brokerage group, which operated the EuropeFX and AGM Markets brands.

The suspension comes after Maxiflex settled with CySEC late last year and paid a fine of €370,000 for what were called “possible violations”.

The “possible violations” by Maxiflex included the obligation to execute orders on terms most favourable to the client.