CySec Licenses

[Holla12]

Hello All,
I've been scouring over the CySec License site. Holiway Investments holds CySec license 248/14. There are 4 other sites that show on their home pages they are also 248/14. One of the 4 sites owes me a substantial amount of money.
Holiday states "Our company has no legal and/or business and/or omissions with the 4 other domains. Hence your complaint has no relation to their company which has nothing to do with the other domains." (I thought Holiway should be responsible for the money I am owed from a domain claiming to have the same CySec license number)

This back and forth with Holiway has been going on since at least January 2017. They said they would investigate the other domains and report them. Well that has not happened. Holiway does run a Binary Options site 10Trade.

Does anybody have knowledge regarding CySec licenses? Do the 4 other sites need to be listed under Holiway's name on the CySec web site? And would Holiway be responsible for the money I am owed?

Holiway has sent me threatening letters from their attorney stating I am accusing them of fraudulent actions. They reserve the right to take legal actions against me.


Thank you for any responses as I've been ripping my hair out.

Holla12

 

[iMusingKiMi]

Hello All,
I've been scouring over the CySec License site. Holiway Investments holds CySec license 248/14. There are 4 other sites that show on their home pages they are also 248/14. One of the 4 sites owes me a substantial amount of money.
Holiday states "Our company has no legal and/or business and/or omissions with the 4 other domains. Hence your complaint has no relation to their company which has nothing to do with the other domains." (I thought Holiway should be responsible for the money I am owed from a domain claiming to have the same CySec license number)

This back and forth with Holiway has been going on since at least January 2017. They said they would investigate the other domains and report them. Well that has not happened. Holiway does run a Binary Options site 10Trade.

Does anybody have knowledge regarding CySec licenses? Do the 4 other sites need to be listed under Holiway's name on the CySec web site? And would Holiway be responsible for the money I am owed?

Holiway has sent me threatening letters from their attorney stating I am accusing them of fraudulent actions. They reserve the right to take legal actions against me.


Thank you for any responses as I've been ripping my hair out.

Holla12

As I know, CySec license is the cheapest license for those scam brokers to start with. Why said so? Because most regulatory need certain amount of deposit, but you can withdraw those money from CySec. Of course, it might be not the same person for 4 other domain because some people just fraud using the same license number. And of course, there must be one which is legal. If they have reported to CySec, usually they will post it on notice that which domain or company are legitimate.

 

[alextrader79]

They have not so strict rules. That's the reason for using it by many companies. I can't tell that all of them are scam, however I haven't worked with a CySec broker

 

[bigdolly]

Hello All,
I've been scouring over the CySec License site. Holiway Investments holds CySec license 248/14. There are 4 other sites that show on their home pages they are also 248/14. One of the 4 sites owes me a substantial amount of money.
Holiday states "Our company has no legal and/or business and/or omissions with the 4 other domains. Hence your complaint has no relation to their company which has nothing to do with the other domains." (I thought Holiway should be responsible for the money I am owed from a domain claiming to have the same CySec license number)

This back and forth with Holiway has been going on since at least January 2017. They said they would investigate the other domains and report them. Well that has not happened. Holiway does run a Binary Options site 10Trade.

Does anybody have knowledge regarding CySec licenses? Do the 4 other sites need to be listed under Holiway's name on the CySec web site? And would Holiway be responsible for the money I am owed?

Holiway has sent me threatening letters from their attorney stating I am accusing them of fraudulent actions. They reserve the right to take legal actions against me.


Thank you for any responses as I've been ripping my hair out.

Holla12

Binary options under CySec is almost a guaranteed scam. Don't b scared by their threats and contact Cyprus financial ombudsman to figure out which company exactly holds this license or check their register manually.

 

[hafizmohd81]

Binary options under CySec is almost a guaranteed scam. Don't b scared by their threats and contact Cyprus financial ombudsman to figure out which company exactly holds this license or check their register manually.

If to be honest, I haven't heard about non-scam binary options. really

 

[bigdolly]

You can find a few but still they don't provide realistic full-fledged trading environment, it does look like casino mixed under the sauce of currency trading. You will end up in losses despite your efforts as odds are stacked heavily against you in the long run.

 

[FmrBrokerExecutive]

Binary Options is indeed a fake market and therefore there is no real liquidity behind it.

Cyprus brokerages however are not however. There are many legitimate brokerages based in Cyprus. It costs millions to start a firm in the UK, US, or other European countries besides Cyprus or the Caribbean. Therefore, many firms are established in islands such as Cyprus or Belize. It still costs a substantial amount in capital reserves, etc that guarantees some legitimacy. The main issue is the regulators just can't handle all the complaints. CySEC has >10 employees. They have received thousands of complaints for various brokerages and simply don't have the ability to do the needful.

 

[Pharaoh]

The lack of enforcement of rules in Cyprus leaves me worried. Even the legit brokers there could turn bad with little fear of any immediate regulatory consequences.

 

[oscarra]

https://www.theguardian.com/world/2...tizenship-to-super-rich-of-russia-and-ukraine

Cyprus, Malta, Ireland etc…. all carry a rotten smell !

 

[Makenzie Malachi]

So far I know that, to start as broker some of the scammer use CySec, the cheapest trading license. To become a regulated trading broker every broker has to deposit a certain amount which can be withdraw from CySec. Also some fraud broker take the advantages of using the same license number from them. There are lots of way to steal money from forex. But still forex is a legitimate business. If anyone wanted to do forex business they should be more careful.