Rodeler Limited got 24FX and 24option Russian Forex license denied by Bank of Russia; the Forex brokerage group will not be able to operate as a retail Forex dealer in Russian and serve Russian clients.
2 September, AtoZForex – Binary Options and Retail Forex brokerage group Rodeler Limited has been rejected for a professional securities market participant license by the Bank of Russia.
24FX and 24option Russian Forex license denied
The Bank of Russia didn’t provide any reasons for denying 24option Russian Forex license, or for denying 24FX Russian Forex license for that matter. The decision marks a second international setback for Rodeler Limited group over the past month. French financial regulator AMF banned Rodeler in early August from dong any operations with French traders, because the brokerage failed to act in an hones manner and in the best interests of its clients.
Rodeler Limited Forex brokerage group is based in Cyprus but operated out from Israel and holds a CIF license in Cyprus issued by CySEC. The entity owns the 24option (24option.com) and 24FX (24fx.com) groups, as well as QuickOption and GrandOption binary brokerages.
Also see: Capital Option and SkyFX closed: CySEC appoints liquidator
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