NordFX, known for its forex and CFD services, has raised concerns over its use of a previously CySEC-regulated entity that now operates as a payment agent.。

NordFX says operator NFX Capital VU Ltd has moved its domicile from Vanuatu to Saint Lucia。Traders are reminded that their client agreements are now with this unregulated offshore entity and NordFX is not responsible for the accuracy of the information on its website.。

Change of legal person and business

Founded around 2008, NordFX has undergone cross-jurisdictional legal entity changes.。In Europe, NordFX was operated by CySEC-regulated NFX Capital CY Ltd, which was later renamed Inveza Capital Ltd.。Although the Inveza website is offline, the entity is still operating as a payment agent for NordFX。

Formerly registered in Vanuatu and now headquartered in Saint Lucia, NordFX operates primarily in Asia, offering high leverage ratios of up to 1: 1,000.。However, traffic to the broker's website fell sharply, with daily visits falling from nearly 500,000 to about 23 in November 2023..30,000。

NordFX claims to have more than 2 million customers and 29,000 affiliates, but the accuracy of those numbers is under review.。Although NordFX claims to not accept customers from North America and the EU, it is still possible for EU residents to register on the platform.。

In the past two years, Vanuatu has transitioned from an offshore jurisdiction to regulating digital assets under the revised Financial Dealers Licensing Act.。Licensees such as Deriv, TMGM, Axi and Titan FX shared their experiences, citing challenges such as staff shortages and the need for cooperation between regulators.。

CySEC in Action: Inveza Capital Ltd Revokes Business License

The Cyprus Securities and Exchange Commission has officially revoked the operating license of Inveza Capital Limited, which had previously decided to "expressly waive" the operating license.。While the announcement is recent, the regulatory commission made its decision more than two months ago, on December 5, 2022.。

Inveza Capital Ltd, formerly NFX Capital Cy Ltd and Vinst Capital Limited, was licensed in August 2013, allowing it to operate through the Inveza.com website provides investment services。Withdrawal of authorisation by investment companies in Cyprus in accordance with the Investment Services and Activities and Regulated Markets Act。