HotForex Terminates Bonuses and Reduces Leverage to Meet CySEC Guidelines
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HotForex Terminates Bonuses and Reduces Leverage to Meet CySEC Guidelines
Two months after CySEC issued a circular informing regulated CIF firms of the reduction of leverage to 50x and to halt offering bonuses, online forex broker HotForex today issued an announcement to its clients highlighting the company’s response to the proposed rules.
In line with CySEC guidelines, HotForex today announced that in addition to termination of trading bonuses and rewards, it will lower the default leverage ratio offered to clients to 1:50, effective 29 January 2017.
As reported by Finance Magnates, earlier in November the Cypriot financial regulator proposed a clampdown on CIF brokers offering bonuses designed to ... (read more)
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