The Cyprus financial regulator, CySEC, announced that it has reached settlements totaling €90,000 with two FX and CFD companies over separate compliance violations that occurred in 2021.
The Cyprus Securities and Exchange Commission stated that it settled with Broctagon Prime Ltd for €50,000 over potential client information violations, while Exclusive Change Capital Ltd agreed to pay €40,000 for potential breaches of organizational requirements.
Both companies have already paid their respective settlement amounts, with all funds going directly to Cyprus’s treasury rather than the regulator itself.
Broctagon Prime Pays €50K to Settle Cyprus Regulator Dispute
CySEC investigated whether the company violated articles 25(1) and 25(3)(a) of Cyprus investment services law, which govern how financial firms must communicate with their clients. The regulator didn’t specify exactly what information Broctagon Prime failed to provide or how the alleged violations occurred.
Broctagon Prime, which operates as a liquidity and technology provider for FX and CFD trading, has already paid the full settlement amount. The company holds a market maker license from CySEC and has been regulated by the authority since 2017.
The settlement represents the second penalty CySEC has announced this year involving a Cyprus-based financial firm. In May, the regulator reached a separate €20,000 settlement with ZFN Europe Ltd over licensing violations.
CySEC emphasized that settlement funds go directly to Cyprus’s treasury rather than to the regulator itself. The commission has authority under Cyprus law to settle potential violations when it believes reasonable grounds exist that rules were broken.
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Exclusive Change Capital Pays €40,000 Over Organizational Requirements
The second settlement involves retail trading company Exclusive Change Capital Ltd, which recently rebranded as EXCA Prime in May 2025. CySEC investigated the company’s compliance with organizational requirements between January and August 2021.
The violation relates to article 22(1) of Cyprus investment law regarding authorization conditions, specifically organizational requirements that Cyprus Investment Firms must follow under article 17(5)(b).
Exclusive Change Capital operates under CySEC regulation and provides multi-asset trading services to institutional and private clients. The company achieved ISO/IEC 27001:2013 certification earlier, becoming the first financial institution in Cyprus to receive this recognition from certification body MSECB.
Broctagon FinTech Group
Broctagon Prime operates as part of the Broctagon FinTech Group and provides trading services across multiple asset classes including spot foreign exchange, commodities and contracts for difference. The company targets both retail traders and institutional clients.
In April, FinanceMagnates.com reported that the company incorporated Takeprofit Tech’s investment management solution into its brokerage platform, enabling foreign exchange brokers to manage multiple customer accounts using a mini-hedge fund structure.
Neither settlement constitutes an admission of wrongdoing by the companies involved, and CySEC’s announcements didn’t indicate whether either firm faced additional operational restrictions.
This article was written by Damian Chmiel at www.financemagnates.com.RegulationRead More
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