Abstract:The Financial Conduct Authority (FCA) in the UK has published an announcement that Axi, a forex company, applied to cancel its authorisation.
Applied to Cancel its Authorisation
According to the official press release, the FCA regulated firm Axi under license number 509746, is no longer registered and authorised in the FCA.
The cancellation of Axis license means the entity was failed to offer British clients its financial services as an FCA-supervised firm does.
Note:Axi is still authorized and regulated by the Financial Markets Authority (FMA) in New Zealand, the Australian Securities & Investments Commission(ASIC) and DuBai Financial Services Authority(DFSA).
The revenue of FXCM UK for 2021 was $13.6 million, a 12% decrease from $15.4 million in 2020. The company's net profit for the year decreased from $4.9 million in 2020 to only $227,982 in 2021, just over breakeven.
According to Rakuten Group, the establishment of Rakuten Securities Holdings, Inc. and the reorganization of the securities firm were completed as planned.
DtpFx Ltd is a forex scam warned by FCA recently. However, it hasn't stopped its steps to scamming after being warned.
Although digital currencies have been around for over a decade, the concept is still foreign to many.