Home -
Brokers -
Main body -

WikiFX Express

Exness
EC Markets
TMGM
XM
FXTM
AvaTrade
FOREX.com
IC Markets Global
FXCM
ACCM

WIKIFX REPORT: CYPRIOT LICENSE OF DUALIX & AGM MARKETS PARENT WHOLLY SUSPENDED

DUALIX | 2022-06-29 14:28

Abstract:After several months of pause, the Cypriot authorities is once again flexing their muscles and actively finding compliance irregularities.

CySEC-2.jpeg

The Cyprus Securities and Exchange Commission (CySEC) has wholly suspended the license of Maxigrid Limited (trading as Dualix & AGM Markets) as the company materially contravened its licensing conditions.

The CySEC confirmed it will maintain supervision over the firm until it has taken care of its responsibilities under the suspended license. Earlier in March, Maxigrid was fined €75,000 by the Cypriot regulator for multiple regulatory violations.

According to the CySEC‘s manifest, Maxigrid’s CIF approval was temporarily revoked because the company appears to “conduct business and/or to be engaged in the conducting business and/or to facilitate the conducting of business not stated in its authorisation.”

In addition, the regulator further explained that the firm didnt comply “at all times” with the authorisation conditions in sections “9(2) – suitability of members of the management body, and 11(1)(b) – suitability of shareholder, of the Law.”

Interestingly, the CySEC expressed the same concerns when it decided this morning to “suspended in whole” the license of Maxiflex Ltd (trading as EuropeFX).

Both firms had their UK license lapsed in 2020 after an investigation found Britons were being offered high risk contracts for difference (CFDs) using fake celebrity endorsements on social media. The FCA, however, did not reveal the names of the celebrities used in the fake endorsements.

The City regulator also said these firms failed to pay money owed to investors and charged customers undisclosed fees whilst failing to disclose the risks of trading CFDs.

The FCA told these brands that they are no longer allowed to solicit or take on new clients from the country anymore, while relations with the existing clients must be terminated, and they must be allowed to close their positions and withdraw their funds.

At the time, the CySEC partially suspended license of those firms until they take corrective measures within a set framework; otherwise, it warned additional measures will be taken, such as the imposition of fines and/or even the withdrawal of their licenses.

Maxigrid has 30 days to take the necessary actions to comply with the specified provisions. During this time, they cannot provide any services or enter into a business relationship with any person and take on any new clients.

In addition, the broker is not allowed to execute any orders from clients for buying financial instruments or provide any investment services in or outside of Cyprus.

BrokerDealerForex tradingForex BrokerForex news

Related broker

No Regulation
DUALIX
Company name:Maxigrid Limited.
Score
1.55
Website:https://dualix.maxigrid.com/
5-10 years | Suspicious Regulatory License | Suspicious biz area | Market Maker (MM)
Score
1.55

Read more

Investing in Coinexx? Think Again Before Your Account Balance Hits ZERO

Coinexx has emerged as a nightmare for traders who once saw potential and profit in its platform. The problems lie in its lack of transparency, which has left many investors with a ZERO balance. Scamming investors by employing fraudulent tactics and introducing bogus trading rules is increasingly becoming its status symbol. The endless negative reviews of this scam broker are trending on various platforms. To expose the troubling investor experiences, we’ve compiled sharp complaints from verified users of Coinexx. Read on!

Original 2025-08-08 19:56

UnityFXLive: How This Broker Scammed Over $350,000 ? Know the Red Flags

On August 4, 2025 Indian police arrested two men for running a fake forex trading scam under the name UnityFXLive.com. The suspects were caught operating from a rented office in Goregaon, Mumbai. During questioning, they revealed the name of a third person who is believed to be the mastermind behind the scam. He is currently on the run. The scammers promised people high returns on forex investments, but instead of doing real trading, they stole the money using fake online platforms.

Original 2025-08-08 19:38

FXPRIMUS Exposed: Withdrawal Denials, Account Blocks & Other Alarming Issues

Have your fund withdrawal applications been constantly denied by FXPRIMUS? Does the forex broker inappropriately block your trading account? Are your deposits disappearing without reaching your trading account? There’s something seriously wrong with this forex broker, whose track record keeps getting worse by the day. Many traders have expressed their anguish on several broker review platforms. While reading those reviews, we could not resist exposing this broker. Check out how traders have criticized FXPRIMUS for its illicit acts.

Original 2025-08-08 18:50

FXPRIMUS Exposed: Withdrawal Denials, Account Blocks & Other Alarming Issues

Have your fund withdrawal applications been constantly denied by FXPRIMUS? Does the forex broker inappropriately block your trading account? Are your deposits disappearing without reaching your trading account? There’s something seriously wrong with this forex broker, whose track record keeps getting worse by the day. Many traders have expressed their anguish on several broker review platforms. While reading those reviews, we could not resist exposing this broker. Check out how traders have criticized FXPRIMUS for its illicit acts.

Original 2025-08-08 18:50

WikiFX Express

Exness
EC Markets
TMGM
XM
FXTM
AvaTrade
FOREX.com
IC Markets Global
FXCM
ACCM

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
ZFX

ZFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
ZFX

ZFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
ZFX

ZFX

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
FOREX.com

FOREX.com

Regulated
ZFX

ZFX

Regulated

Latest News

Forex Swaps Explained in 5 Minutes – Everything You Need to Know

WikiFX
2025-08-08 17:27

Telegram vs WhatsApp vs Discord: Which Platform Is Best for Forex Signals?

WikiFX
2025-08-07 16:45

Investment Scam Alert: FCA Identifies 15 Scam Brokers

WikiFX
2025-08-07 18:10

BaFin Issues Consumer Alerts Against Unauthorised Platforms

WikiFX
2025-08-07 16:14

Retired Man Loses Life Savings to ‘Sister Duo’ in Forex Scam

WikiFX
2025-08-07 16:18

Exploring Laxmii Forex: Kharadi's Financial Hub

WikiFX
2025-08-07 14:52

TradexMarkets: 5 Troubling Signs You Shouldn’t Ignore

WikiFX
2025-08-07 20:28

A Guide to Buy Stop vs Buy Limit in Forex Trading

WikiFX
2025-08-07 18:59

SEC Implements New Rules for Crypto-Asset Service Providers

WikiFX
2025-08-07 17:36

Binance Users Convert Crypto and Withdraw Instantly to Mastercard

WikiFX
2025-08-08 15:14

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Zirve Global

Zirve Global

East Asia Futures

East Asia Futures

SCSL

SCSL

DILLON W.SRL

DILLON W.SRL

Trans Scan

Trans Scan

BODAFX

BODAFX

Westpac

Westpac

BRD

BRD

Raffle Option

Raffle Option

FXPCM

FXPCM