Cyprus ICF Ejects Four Firms After CySEC Licence Revocations

The Cyprus Securities and Exchange Commission (CySEC) has removed four investment firms from the countrys Investor Compensation Fund (ICF) following the withdrawal of their operating licences earlier this year, according to an official announcement issued in September 2025. Oasis Wealth Management Ltd, The Alternative GMI Ltd, Itrade Global (CY) Ltd, and Viverno Markets Ltd are no longer covered by the ICF, a fund designed to protect retail investors when regulated firms fail.

CySEC Regulatory Actions Intensify in 2025

This latest enforcement underscores CySECs rigorous approach to compliance and investor protection. Each firm was subject to a separate regulatory review before its Cyprus broker licence status was revoked. Oasis Wealth Management lost its UCITS management authorisation in June following a disclosure in company filings. Alternative GMI, previously authorised as an alternative investment fund manager, saw its licence revoked after a CySEC board decision the same month.

Itrade Global (CY) Ltd, which operates under brands including TradedWell and InvestFW, voluntarily surrendered its Cyprus Investment Firm (CIF) licence amid compliance issues tied to its Spanish operations. Viverno Markets Ltd, reportedly connected to BDSwisss B2B business, had its CIF licence withdrawn in May due to operational dormancy.

ICF Compensation Claims: What Investors Need to Know

CySEC confirmed that while ICF membership is immediately terminated upon licence revocation, existing clients maintain their right to file ICF compensation claims in Cyprus for eligible transactions executed prior to the withdrawal date. This means that, if investors have suffered losses due to the firms‘ inability to meet obligations, they can still seek payouts through the Cypriot investor protection fund—provided their claims satisfy the fund’s terms and conditions.

“Clients of these firms may still be eligible for ICF compensation on past dealings, but no protection applies to new business under these brands,” a CySEC spokesperson clarified. The regulator emphasised that, following a CySEC licence withdrawal, ongoing and future transactions with these entities carry no ICF safety net.

Staying Protected: How to Verify Broker Credentials

CySEC urged investors to always verify a brokers licence before opening an account. The regulator maintains an up-to-date online registry where users can check if a broker is CySEC licensed. Dealing with unregulated firms in Cyprus carries significant risk, as neither CySEC compliance enforcement nor the ICF offers protection in such cases.

Industry experts recommend that investors use multiple verification tools, including the WikiFX app, which aggregates negative cases and regulatory data on brokers worldwide. “Always check the broker‘s negative cases on the WikiFX app before trading,” advises Markos Kyprianou, a financial consultant based in Nicosia. “This provides an additional layer of protection beyond CySEC’s official channels.”

Broader Trends in Cyprus Financial Regulation

These developments reflect a broader tightening of Cyprus financial regulator updates across the European Union. CySEC has ramped up its scrutiny of licence holders, particularly targeting firms with compliance failures, inactivity, or exposure to regulatory penalties. The agency has also expanded its efforts to warn against unlicensed entities, including by publishing lists of non-approved websites and taking action against clone operations targeting Cypriot clients.

The regulators message is unambiguous: maintaining both CySEC authorisation and ICF membership is essential for investor trust. When firms fail to meet these CySEC ICF membership requirements, both protections can be withdrawn quickly and decisively.

For investors, the key takeaway is clear: always confirm a brokers regulatory standing, understand the difference between ICF and CySEC protection, and stay informed about the latest CySEC regulatory actions. Reliable, up-to-date information is the best defense against fraud and loss.

Note: Always check the brokers negative cases on the WikiFX app before trading. Scan the QR code below to download and install the app on your smartphone.