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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. As a result, 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.
