CySEC withdrew Conotoxia Ltd's investment-firm license after the Cyprus forex and CFD provider spent close to a year unable to fix the deficiencies behind its suspension. The regulator decided the withdrawal in December 2025 and published it on 5 June 2026.
Why CySEC Suspended Conotoxia
CySEC suspended license 336/17 on 23 July 2025. Its order raised concerns about the suitability of a board member, the requirement for at least two people to direct the business effectively, shareholder suitability and safeguards around client assets. Conotoxia was barred from taking new clients, advertising or providing investment services while it was given time to remedy the failures.
The regulator later concluded that the firm no longer met the conditions under which authorization had been granted. Even after withdrawing the license, CySEC required Conotoxia to investigate and resolve complaints already filed by customers.
A Compliance Fine and a Second License Loss
Two days before the suspension, CySEC had fined Conotoxia €3,650 for anti-money-laundering compliance breaches. Separately, Poland's financial supervisor revoked the Cinkciarz.pl group's payment-services license in October 2024 over customer-fund safeguarding concerns. The actions concern different legal entities and license categories, but together show regulatory problems across the group.
Independent monitoring confirmed a physical Cyprus office but reported trading-cost complaints, including spreads and commissions that clients said differed from marketing. Those customer reports are allegations, not findings in the license-withdrawal decision.
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The withdrawal is final unless a regulator says otherwise
Conotoxia had months to cure the governance failures and did not restore compliance. Former clients should preserve account records and pursue the complaint process CySEC ordered the firm to complete.
About Conotoxia Ltd
Conotoxia Ltd was a Cyprus forex and CFD firm within Poland's Cinkciarz.pl group. It held CySEC license 336/17 from 2017 until the authorization was withdrawn.
Frequently Asked Questions
Is Conotoxia still regulated by CySEC?
No. CySEC withdrew license 336/17 in a decision published on 5 June 2026.
Why was Conotoxia suspended?
CySEC cited governance, management, shareholder-suitability and client-asset protection deficiencies.
What happens to existing complaints?
CySEC ordered Conotoxia to investigate and resolve customer complaints already on record.
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