The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Cyprus Investment Firm (CIF) authorisation of TTCM Traders Trust Capital Markets Ltd, a contracts for difference (CFD) broker. The firm had offered leveraged trading in forex, indices, commodities, metals and shares under the Cypriot regulatory framework.
According to CySEC, the withdrawal followed TTCM Traders Trust Capital Markets Ltd’s decision to renounce its authorisation. The regulator said the withdrawal was processed through a decision taken earlier in 2026 and published on Tuesday, 9 June 2026. As a result, TTCM is no longer authorised to provide investment services as a Cyprus Investment Firm. CySEC confirmed that the authorisation has been formally removed and that judicial review does not apply in this case.
Voluntary Exits from the Cyprus Investment Firm Regime
The case of TTCM Traders Trust Capital Markets Ltd adds to a broader pattern of firms exiting the Cyprus Investment Firm regime through voluntary renunciations. Similar cases have included Fibo Markets, where the CIF authorisation was surrendered rather than maintained. In 2024, CySEC also withdrew the CIF authorisation of Forextime Ltd (FXTM) as the broker exited the Cypriot regulatory regime.
These developments underline an ongoing trend of investment firms and CFD brokers choosing to step away from CIF status, leading CySEC to record a series of licence withdrawals based on firms’ own decisions to renounce authorisations.
Enhanced Reporting and Supervisory Measures
Separately, CySEC has issued reporting instructions for branches of EU investment firms operating in Cyprus, including CFD brokers, as well as crypto asset service providers registered in the country. Under these instructions, firms are required to submit statistical data covering the previous year through the regulator's electronic reporting system.
CySEC has warned that failure to comply with the reporting obligations may result in administrative penalties. The regulator also announced that it will carry out on-site inspections and desk-based reviews during 2026 as part of a wider supervisory exercise coordinated by the European Securities and Markets Authority.
The supervisory work will focus on areas including staff remuneration, platform design and potential conflicts of interest. These measures are intended to strengthen oversight of investment firms and crypto asset service providers operating under the Cypriot framework, following a period marked by multiple voluntary renunciations of CIF authorisations.
