MarketsVox Removed From CySEC Warning List After Clarification

The Cyprus Securities and Exchange Commission (CySEC) has removed MarketsVox from its warning list of unauthorised investment firms, following clarification that the company does not offer financial services to Cyprus residents.

In January 2025, CySEC included MarketsVox (formerly known as ForexVox) among several websites in a public warning, stating these entities had not been granted authorisation for the provision of investment services under Article 5 of Law 87 (I)/2017. This information was subsequently published by several financial news outlets.

However, MarketsVox representatives immediately contacted the regulator to address what they described as a misunderstanding. The company explained that while they operate MV Technologies, a Cyprus-based entity, this company functions solely as a payment processor and employment vehicle for their global operations and does not offer regulated financial services to Cyprus residents.

MarketsVox demonstrated to CySEC that their trading platform explicitly blocks access from Cyprus IP addresses and displays a comprehensive disclaimer stating that their services are not intended for residents of various restricted jurisdictions, including those where offering such services would be contrary to local regulations. After reviewing this evidence, CySEC removed MarketsVox from the warning list within approximately two months of the initial publication.

Stuart Pettman, Director at MarketsVox, expressed frustration that while the initial warning received widespread coverage, the subsequent removal from the list has gone largely unreported by industry news outlets. "We maintain open communication with regulators globally to ensure compliance with local regulations," Pettman said. "In this case, a simple verification process by CySEC before issuing the warning would have prevented unnecessary reputational damage to our business."

This situation highlights the importance of due diligence by both regulators and the companies they oversee, as well as the need for balanced reporting when regulatory matters are resolved.

MarketsVox continues to operate its global business through its authorised entities and maintains that it follows appropriate procedures to restrict services in jurisdictions where it does not hold relevant authorisations.