Cyprus Regulator Confirms Withdrawal of Fibo Markets Licence later than Firm Opts Out
What Triggered the Licence Withdrawal?
The Cyprus Securities and platform Commission (CySEC) has withdrawn the investment firm licence of Fibo Markets Ltd later than the broker voluntarily renounced its authorisation. The regulator’s board approved the move on 25 August under section 8(1)(a) of the country’s 2017 Investment Services and Activities Law, which governs voluntary surrenders.
CySEC said the decision followed the firm’s “express” request to give up its licence. Fibo Markets, formerly known as FIBO Group Holdings, had been authorised since 2010 under licence number 118/10, allowing it to operate as a Cyprus across the EU under MiFID II passporting rules.
Investor Takeaway
What Happens to Fibo’s EU Operations?
The withdrawal ends a 15-year chapter in which Fibo used its Cyprus hub to . Company records show the Cyprus entity operated domains such as fibogroup.eu, fibomarkets.eu and fibomarkets.com, which were listed as approved under its licence. With the licence gone, those websites can no longer be used for regulated EU services.
significantly, there is no indication the licence was revoked for misconduct. CySEC had only imposed minor administrative penalties on the firm in the past. Instead, the withdrawal reflects a voluntary exit process, , wind down operations, and settle client obligations before final approval.
Outside Europe, Fibo remains active through entities such as FIBO Group Ltd in the British Virgin Islands, authorised by the BVI Financial Services Commission. That structure allows the group to continue servicing clients globally, albeit outside the EU regulatory perimeter.
Why Are Brokers Leaving Cyprus?
Fibo’s decision follows a wider trend of voluntary exits among Cyprus-regulated brokers. Over the past two years, firms including FXTM and IFCM Cyprus have also surrendered their licences. Industry lawyers cite rising compliance costs, stricter supervisory standards, and overlapping offshore operations as drivers behind the exits.
For many groups, maintaining both EU and offshore entities has become less cost-effective. Some prefer to consolidate operations in jurisdictions with lighter regulatory regimes, even if it means losing EU passporting rights. This shift highlights the growing divide between brokers willing to invest in EU compliance and those opting for offshore structures to reduce overhead.
Investor Takeaway
What’s Next?
With the licence withdrawal now formal, EU-based client accounts under Fibo Markets Cyprus are expected to be closed or migrated. The group is likely to continue leveraging its offshore units to maintain a presence in global markets, particularly in Asia and emerging economies where demand for leveraged products remains high.
For CySEC, the steady stream of exits reflects both the success and strain of Cyprus as a hub for retail brokers. While stricter oversight enhances investor protection, it also reduces the appeal for firms viewking cost-efficient EU market access. Future exits will depend on whether compliance burdens continue to rise or whether some brokers double down on Europe’s .
