The Cypriot financial regulator CySEC has decided to announce the suspension of the financial license of Indication Investments Ltd. Indication Investments is a brand of the forex broker Libertex, serving retail clients through the website libertex.com. Last year, CySEC fined Indication Investments EUR160,000 for breaches that included failing to fulfill certain customer orders on terms most favorable to the customer and offering more than the maximum leverage of 1:30 allowed to retail traders.
Some of the current violations show that the company does not appear to act honestly, fairly and professionally when providing investment services to clients, in accordance with the best interests of the clients. It also does not appear to provide information to its clients or potential clients that is fair, clear and not misleading.