Money for Cyprus! Maxiflex had to pay €370,000 for possible compliance violations
Maxiflex had to make a payment of €370,000 to the Treasury of the Republic of Cyprus. Reasonable people would call this a penalty payment but CySEC prefers the term settlement payment. As always, the CySEC remains very vague in its statement and does not really explain what potential violation Maxiflex might have committed. Lately, Almagor's Maxiflex and Maxigrid have been facilitated in broker scams and saw their bank accounts with GlobalNetInt terminated.