The Cyprus Securities and Exchange Commission suspended the financial license of WGM Services in November, originally for 15 days.
There were 3 reasons:
- Operational requirements – Clients’ funds, Safeguarding of clients’ funds
- Own Funds – on the capital adequacy of investment firms
- CIFs large exposures – on large exposures
In the end it took more than one month to the CySec to give the license back to EZTrader, it happened two days ago.
Although it is certainly positive news for EZTrader, in our opinion it is still a broker not worth recommending as we are receiving complaints about them and they are behind scams like OptioNavigator or Trading for newbies.