As reported by 4xAngels under a separate thread earlier today, UFX Markets has been fined by CySec 100,000 Euro.
See attached file.
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They have apparently paid it with their ill gotten gains and are permitted to remain registered.
Now that CySec has gotten it's cut, what of the defrauded clients?
I hope all now see how weak CySec registered firms are.
There is no Greek legal authority to force a fraudulent registered firm to make whole its clients, save delisting; and apparently 100K is sufficient to make them go away.
So now the regulator is fat and happy.
I urge all defrauded clients to storm CySec with letters of complaint in protest of their decision to accept a pay-off in exchange for permission to continue in operation.
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At the same time, there has suddenly come into sight a Client Complaint Officer for UFX Markets, as reported by alzahif.
CCOfficer@ufxmarkets.com
Megan Ripley
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She has helped some in recent days.
Those affected by this fraud should attempt to politely contact her, as perhaps the firm wants to right itself.
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AI