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Licence record

CySEC licence 291/16

Holder
GWG
Jurisdiction
Cyprus
Last checked
Sep 9, 2026

This is Wikilix's record of a licence issued by Cyprus Securities and Exchange Commission. It sets out what the register says, what we checked, and what the authority's own rules protect.

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Licence intelligence

RecordModified Sep 9, 2026

Licence Verification Record

Cyprus Securities and Exchange Commission 291/16

Wikilix read the CySEC register on Sep 9, 2026. This is what it said.

Issuing authority
Cyprus Securities and Exchange Commission
Holder
GWG (Cyprus) Ltd
Jurisdiction
Cyprus
Effective
Jan 20, 2016
Register status
Authorised

Checked Sep 9, 2026

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

wikilix.com/licenses/cyprus-securities-and-exchange-commission/gwg-gwglobalfx/291-16Fields on file 8 / 11

Open GWGAbout CySEC
Our check
Checked

What we checked

We found this licence on the issuing authority's own register.

Wikilix check
Confirmed on the register
Authority strength
Tier 2
Jurisdiction
Cyprus
Last checked
Sep 9, 2026
Register says
Authorised

Finding

Cypriot Investment Firm (CIF) authorisation to receive, transmit and execute client orders in financial instruments, passported across the EEA under MiFID Client protection: Investor Compensation Fund up to 20,000 euros; segregated client money; negative balance protection. Effective: 20 Jan 2016.

Exhibit

Register screenshot, captured Sep 9, 2026
The register

What the authority publishes

Printed as the register prints it. A field that is missing here is one nobody has recorded, not one the register leaves blank.

Licence number
291/16
Register status
Authorised
Effective from
Expires
No expiry shown
The authority

About CySEC

Cyprus Securities and Exchange Commission is the authority that issued this licence, and the jurisdiction it applies in is Cyprus.

Full name
Cyprus Securities and Exchange Commission
Jurisdiction
Cyprus
Strength
Tier 2Well-established regimes with real supervision, usually with lower compensation limits than tier 1.
Established
2001
Oversight
A government or statutory body
Firms we track under it
216 firms
Regulates
Forex, Stocks, Options, Derivatives, Commodity, Securities, Futures, CFD
Licences it issues
CIF – Own Account / Matched Principal (CFDs)
Typical cost of a licence
€50000-100000
Public register
Searchable by the public
Transparency
High
Protection

What this licence protects

CySEC's own rules for the firms it authorises.

  • Compensation schemeUp to €20000 (ICF)
  • Client money kept separate
  • Negative balance protection
  • Complaints routeCyprus Financial Ombudsman
  • Maximum leverage1:30
This describes the authority's regime, not how GWG applies it.
The holder

Who holds this licence

The licence above is recorded against GWG. A licence is issued to a legal company, so the companies below are what you would search a corporate register for.

Broker
GWG (Cyprus) Ltd
Based in
Cyprus
Operating
10-15 years
Wikilix score
35.3the firm’s overall score, not a rating of this licence

Wikilix records GWG as having no regulation on file. That is a finding about the firm, not about this licence — the register’s own wording above is what states this entry’s standing.

Recorded companies

None of these matches the name the register printed, so we do not say which one holds this licence.

  • TSG BROKERS LTDCyprus · Reg. HE 342580 · Apr 21, 2015
Provenance

Where this record came from

Every date below has already happened. We do not publish a promised next-update date, because we do not schedule per-licence re-checks.

Official source
The issuing authority’s registerPublished by the authority, not by Wikilix.
Last checked by Wikilix
Record last edited
When this entry was last changed in our database, which may be a correction rather than a change at the register.
Evidence held
A screenshot of the register entry is on file.
Wikilix records what an authority published. It does not issue or endorse authorisations.
Frequently Asked Questions

Questions about this licence

Answered from this register entry and the authority’s own record.

Most Popular Questions

Start from the legal entity rather than the brand. The company is on the Cyprus register as TSG BROKERS LTD under number HE 342580 with a current registered office in Nicosia, which is the address a formal written demand or a lawyer's letter should go to. Anyone who believes they dealt with a CySEC authorised firm can also put the licence claim to the Cyprus Securities and Exchange Commission directly and ask it to confirm the firm's status.

The brand published an address at 18 Kyriakou Matsi Avenue, Victory Tower, Office 302, Nicosia 1082, Cyprus. The Cyprus register records the company's registered office at Athalassas 54, Floor 3, Flat/Office 302, 2023, Nicosia, Cyprus, so the two do not match.

Yes, it is the same legal entity. Cyprus company HE 342580 carried the GWG (CYPRUS) LIMITED name at one point and now carries the TSG BROKERS LTD name. The GWG name is recorded on the register as a previous name only, which is why the brand should not be treated as a live trading business.

No country policy could be established for GWG from any of its own published documents, because none of them is reachable. Its terms, client agreement, signup form, help pages and homepage disclaimer were all tried. Anyone needing to know whether a jurisdiction was served has no authoritative published answer available.

The brand published one to three business days for bank wire transfers and stated no fee, but it published no processing time for its other channels and no independent confirmation of actual withdrawal performance was established. With the site unreachable, no withdrawal route can be assumed to work today.

By bank wire with Bank of Cyprus or Eurobank, by Skrill or Neteller, by Trustly or Przelewy24 banking transfer, or by card through the Decta and EcommPay processors. Deposit and withdrawal fees were stated as zero. Bank wires took one to three business days, and a bank wire withdrawal was allowed only where the client had deposited the same way, returning to the same account.

The Standard account was commission-free on forex with spreads from 0.9 pips. Gold charged 7 USD per lot, and VIP and Professional charged 3.50 USD per lot, each quoting spreads from 0 pips. Commission was described as varying by market.

MetaTrader 4, for Windows, macOS, iOS and Android, plus ZuluTrade for following other traders' positions.

Up to 1:200 on the Professional account. The Standard, Gold and VIP accounts were capped at 1:30, which is the retail limit applied in the European Union.

The entry-level Standard account required 100 USD. Gold required 1,000 USD, VIP 5,000 USD and Professional 10,000 USD.

No. gwglobalfx.com did not respond on any address tried for it, including the locale-prefixed form of the homepage. There is currently no working route to the brand online.

There is no confirmed evidence that GWG stole client money, so it should not be called a proven scam. It should be treated as unverified and inactive: no licence could be confirmed, the website does not respond, and the operating company no longer uses the GWG name. That combination means nobody should deposit with the brand, whatever a site using the name may claim.

The brand was operated by a Cyprus company registered under number HE 342580. That company is still on the Cyprus register, but its current registered name is TSG BROKERS LTD. It was registered on 21 April 2015 as GAMETECH (CYPRUS) LIMITED, then became GWG (CYPRUS) LIMITED, then NENX LIMITED, and now trades under the TSG BROKERS name. Three directors are recorded against it.

No confirmed financial regulation was established for GWG. The brand has been presented as a Cyprus Investment Firm authorised by the Cyprus Securities and Exchange Commission under licence 291/16, but that authorisation could not be confirmed in this research, and the brand's own regulation pages are no longer reachable. It therefore stands as a claim rather than a confirmed licence.

Licence 291/16 was issued by Cyprus Securities and Exchange Commission (CySEC), the financial authority for Cyprus.
GWG holds this CySEC licence. A licence on record means the authority published an entry; it is not an endorsement.
We located this entry on the CySEC register. Note that confirming a register ENTRY is not the same as confirming a live licence — the register’s own wording on this page is what states its current standing.
Wikilix rates CySEC tier 2: a well-established regime with real supervision, usually with lower compensation limits than a tier-1 authority.
This page links straight to the CySEC register. Search it for 291/16, and for the name GWG rather than the trading brand.
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