CySEC Withdraws HTFX (EU) Ltd's Investment Firm Licence

The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Cyprus Investment Firm (CIF) licence of HTFX (EU) Ltd, following the company's decision to voluntarily renounce its authorisation.

According to the regulator, the withdrawal formalises HTFX's exit from the CySEC licensing regime and terminates its status as a supervised CIF. As a result, the firm is no longer permitted to provide investment services or conduct investment activities in or from Cyprus under that licence.

CySEC said HTFX remains subject to any outstanding obligations under applicable laws and regulatory directives, including requirements related to client notifications and the orderly wind-down of its previously regulated activities.

The decision comes amid broader changes in Cyprus' regulatory landscape. Earlier this month, CySEC proposed a significant increase in the cost of conducting investment business on the island. The consultation includes higher application and annual fees for CIFs, foreign branches, and market operators, as well as new charges for material change notifications and algorithmic trading activities.

Under the proposed fee structure, charges would be more closely aligned with a firm's size, business model, and turnover. The draft framework also removes certain outdated items, including a separate approval fee for crypto services, which has effectively been superseded by the EU's Markets in Crypto-Assets (MiCA) regime.

If adopted, the cost of obtaining a CIF licence would rise substantially. The existing flat €7,000 fee would be replaced by a system charging €8,000 per investment service in most cases, and €15,000 for firms dealing on their own account. Fees for operating multilateral or organised trading facilities (MTF/OTF) would increase to €30,000 from €25,000.

HTFX joins a growing number of brokers that have relinquished their CySEC licences over the past year, highlighting an ongoing reshaping of Cyprus' investment firm sector. Other firms that have stepped away from the regime include VPR Safe Financial Group, operator of Alvexo; BDSwiss' B2B unit Viverno Markets; Royal Forex; and investment firm Globia Wealth.

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