ACFX is finally closing out… But what about investors’ Funds?
ACFX - What's now?
ACFX has decided to close its business on May, 2016. The Broker will no longer accept any new account openings, new orders or deposit. If you were trading with ACFX you are only allowed to close your existing open positions.
CySEC, the Financial Authority in Cyprus has officially announced that ACFX has lost its Financial License today.
The decision has been made on February 13th at a meeting held by CySEC.
It is officially noted that the decision is to wholly withdraw the Cyprus Investment Firm authorization with number CIF 085/07 of Atlas Capital Financial Services Ltd (‘the Company’) due to the Company’s non compliance.
ACFX’s CySEC license has been “suspended” for months, and now that ACFX isn’t regulated or licensed by any regulatory authorities.
What happens to ACFX now? and traders’ Funds?
We understand that there are still traders awaiting for their withdrawals to be processed, but there is nothing mentioned about the remained funds.
Relating to its service, the Official Statement also mentions the following:
The Company should cease to provide investment and ancillary services and settle, within a period of three (3) months, its obligations arising from the services that are no longer allowed to provide or perform.
It means that ACFX will officially cease its operation completely within 3 months.
Although the above statement, it has been known that there is no one working in the office and it is empty.
Now that there is no one to contact about their current service situation, we are not sure how ACFX is going to complete its obligation to its ex-investors.
You can find the official statement of CySEC regarding to this announcement from below.