Cyprus financial regulator CySEC has announced that on its meeting of 10th February 2025, it has decided, pursuant to section 8(1)(a) of the Investment Services and Activities and Regulated Markets Law of 2017 and section 4(7) of the Directive DI87-05, to withdraw the Cyprus Investment Firm authorisation with Number 108/10 of the company Merba Limited (LEI213800EKX595V51V8056) (‘the Company’).
CySEC said its decision was taken due to the Company’s decision to expressly renounce its CIF license.
Merba Limited was previously known as XTrade Europe Ltd (also XFR Financial Ltd and O.C.M Online Capital Markets Ltd), and operated the OffersFX retail forex brokerage brand, at websites offersfx.com and offersfx.eu.
(The XTrade.com website and brand is owned by the same group, but is domiciled in Belize and operates as an offshore broker, not as part of the CySEC-licensed business. We’d note that the XTrade group also lost its ASIC license in Australia in 2024 over “unconscionable conduct”, and its directors were banned by Australia regulator ASIC.)
