CySEC-regulated broker 3angleFX fined €50,000
CySEC found that Triangleview failed to comply with the jurisdiction’s regulation regarding the protection of clients’ funds.
The Cyprus Securities and Exchange Commission, the country’s financial watchdog and one of the leading regulators providing an EU passport to FX and CFD brokers across the globe, has fined Triangleview Investments Ltd.
Triangleview Investments Ltd, which holds a CIF license with CySEC, offers access to CFD trading covering FX, Stocks, Commodities, Indices, and Cryptos via MetaTrader 5 and cTrader through three websites: triangle.markets, 3anglefx.com, and 3angleview.com.
€50,000 fine for issues with the protection of clients’ funds
CySEC found that, between the period December 2021 and February 2022, the company failed to comply with the jurisdiction’s regulation regarding the protection of clients’ funds.
Triangleview reached a settlement with CySEC for the amount of €50.000, which is considered revenue of the Treasury of the Republic and does not constitute income of CySEC.
According to the license it holds regarding ancillary services, the company may provide the following ancillary services:
1. Safekeeping and administration of financial instruments, including custodianship and related services.
2. Granting credits or loans to one or more financial instruments, where the firm granting the credit or loan is involved in the transaction Foreign exchange services where these are connected to the provision of investment services.
3. Foreign exchange services in connection with the provision of investment services.
As to investment services, Triangleview is authorized to provide the following investment services:
1. Reception and transmission of orders in relation to one or more financial instruments
2. Execution of orders on behalf of clients