SkyFX, CySEC suspends CIF License for Capital Option

SkyFX, CySEC suspends CIF License for Capital Option

The Cyprus Securities and Exchange commission (CySEC) has suspended, on grounds of alleged violations and non-compliance measures, the CIF (Cyprus Investment Firm) licence for Trademarker Ltd, the company overseeing SkyFX and the binary option site Capital Option.

Already in 2015, SkyFX had been fined for over $22,000 by CySEC for improperly outsourcing its operations and activities to Israel.

Aviv Talmor is the owner of SkyFX and UTrade (a brokerage company). Mr. Talmor, as of December 2015, has faced, from CySEC, ponzi scheme allegations, which consequently results in a suspension of SkyFX operations.
Trademarker Ltd, the company owned by Mr. Talmor, has allegedly violated CySEC regulations in terms of client authorisations and organizational lapses.

CySEC’s decision to suspend Trademarker Ltd’s licence derives from the potential danger for the client’s interests and assets, which would have had negative repercussions on capital markets. Trademarker Ltd has been given a 15 days period to resolve the aforementioned violations.

In the meanwhile, the company is not allowed to perform or provide investment services.

Close collaboration with the American authorities (such as the SEC in Boston) has allowed, in the past, has allowed Giambrone to successfully retrieve more than $10 million in clients’ lost investments in the previous TIRN case, where victims of this scam reached out to Giambrone forex lawyers, seeking their assistance in the recovery of losses.

Giambrone has a dedicated team of specialist foreign exchange (forex) litigation lawyers specialising in assisting clients across the globe and is at the cutting edge of litigation involving benchmark fixing and manipulation and has significant experience of developing and bringing forex litigation claims against banks, forex brokers and financial institutions. Giambrone will therefore be able to adequately follow the procedure to retrieve investments (that have been made before March 15th 2016, when the licence was suspended) from SkyFX

If you think you have been scammed by SkyFX, please contact us on +39 02 829 50 644 or email us at forex@giambronelaw.com to find out if you are eligible for a refund.