CySEC Fines Maxigrid Director EUR 200,000

CySEC has announced that it has fined Roy Almagor, former non-executive director, president, and shareholder of Maxigrid (a former CySEC CIF-licensed retail FX and CFD brokerage group that operates the EuropeFX and AGM Markets brands), EUR 200,000 and has imposed a ban for a period of five years from exercising managerial functions in an investment intermediary company. Last year, Maxigrid was fined EUR 75,000 by CySEC, prior to the full suspension of its CySEC license.