AETOS, which gave up its United Kingdom licence final June, has now closed down its offshore operations below the Mauritius-licensed entity, FinanceMagnates.com has discovered solely. The contracts for variations (CFDs) dealer has stopped onboarding any new shoppers below its offshore unit.
“AETOS Markets has made a enterprise determination to terminate the supply of economic buying and selling providers to shoppers,” AETOS buyer assist confirmed.
The Destiny of Aussie Operations Stays Unknown
Nonetheless, the way forward for the Australian operations stays unclear. The dealer’s web site nonetheless registers new clients if their nation of residence is Australia. Residency in another nation isn’t accepted.
FinanceMagnates.com reached out to AETOS however has not obtained any response on the time of writing.
The offshore operations had been shut down solely a month after AETOS gave up its Monetary Conduct Authority (FCA) licence in the UK. The dealer subsequently dissolved its UK entity, thus exiting the nation completely.
Learn extra: Round 20% FCA-Regulated CFD Brokers Are Inactive
AETOS is without doubt one of the older retail foreign exchange brokers, working within the sector since round 2007. The model was based and is headquartered in Sydney. Chinese language on-line entrepreneur Yongqiang Lu controls the general model.
Many Exits from CFDs
Whereas many new brokers are coming into the CFDs business, a number of manufacturers are additionally closing elements of their operations. Most exits are from the UK and the European Union.
FinanceMagnates.com reported final month that Hirose Monetary “completely closed” onboarding new retail merchants below its United Kingdom and Labuan-regulated entities. Nonetheless, the dealer’s Japanese operations seem to nonetheless be operating.
ADSS and TrivePro are two different business names which have closed their presence within the UK in recent times. ICM.com can also be within the technique of relinquishing its FCA licence. Orbex is one other model that shut its Cyprus-based operations final July and is now offshore with licences from Mauritius and Seychelles.
This text was written by Arnab Shome at www.financemagnates.com.
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