After experiencing license suspension by Cyprus Securities and Exchange Commission (CySEC) in February, FxPulp's license is now revoked by the Cyprus authorities.

After experiencing license suspension by Cyprus Securities and Exchange Commission (CySEC) in February, FxPulp's license is now revoked by the Cyprus authorities. The license termination was based on the same two rules violation that has caused its license suspension before.

License

According to leaprate, the two rules that FxPulp have failed to comply was section 18(2)(j) of the Law and paragraphs 18 and 20 of the Directive DI144-2007-01 of 2012, in relation to clients' funds, and section 18(2)(h) of the Law and section 58(a) of The Prevention and Suppression of Money Laundering Activities Law, in relation to the procedures followed for the prevention of money laundering. Because of that, CySec demanded the Limassol-headquartered forex broker to cease providing investment and ancillary services and settle, within a period of three months, its obligations that arose from the services that it is no longer allowed to provide or perform. By the time this news was written, FxPulp website is no longer operates as usual. Instead, there is now an important notice for clients that said they will start receiving all inquiries via e-mail info@fxpulp.com starting from April 2, 2015.

FxPulp was established in 2009 by Pulp International Business Ltd. It was previously a market maker broker that facilitated forex trading through Metatrader4 as well as its own proprietary platform, SSTrader, with minimum initial deposit and up to 1:500 leverage. However, at some point it was suspected to be owned by the same entities who owned Crown Forex, a forex broker that was shut down by Swiss regulator FINMA in 2009.