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22 October, 2020
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IQ Option fined by CySEC

On-line broker fined €450000


Limassol based Broker IQ Option Europe Ltd was fined €450000 by the Cyprus Securities and Exchange Commission for violating regulations 144(Ι)/2017 and 188(Ι)/2007.

CySEC said that the company failed to apply effective conflict of interest safeguards and to implement rigorous due dilligence procedures. 

The regulator also flagged the inadequate implementation of policies, controls and procedures in relation to record keeping, evaluation, supervision and continuous examination of transactions.

IQ Option Europe Limited has reportedly come to a settlement with the regulator and has payed the fine.

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