Notice Voluntary Renunciation of Authorisation to operate as Cyprus Investment Firm
Lydya Financial Ltd (“Forex24”), with license number 300/16 (the “Company”) hereby announces making the difficult decision to voluntarily renounce its authorization for operating as a Cyprus Investment Firm (“CIF”), in accordance with the provisions of Law 87(I)/2017 and Directive DI87-05.
The Company is, at present, unable to continue the provision of investment services and act as a CIF.
As a result of the decision, the Company will no longer be carrying out activities beyond those strictly necessary for finalizing the pending transactions. All positions currently held open should be closed, followed by transferring funds held by clients’ trading accounts to clients.
The option for entering into new transactions will be disabled, as of Monday, 6th November 2023.
All open positions held by clients’ trading accounts should be closed no later than Friday, 29th December 2023.
In cases where clients’ transactions are not finalized by Friday, 29th December 2023, the Company shall proceed with closing of all positions held open, on Tuesday, 2nd January 2024 automatically.
All clients’ funds shall be returned to clients, to the banking details so provided by clients.
Upon returning all funds to clients, clients’ trading accounts shall be closed.
Any query should be made in writing to [email protected]