The CyprusSecurities and Exchange Commission (CySEC) has officially withdrawn theinvestment license of FIBO Markets Ltd, finalizing a process the forex brokerinitiated late last year.CySECannounced the decision was made during its Aug. 25 meeting, formally revokingthe company's Cyprus Investment Firm (CIF) authorization number118/10. The regulator cited FIBO Markets' express renunciation of itslicense as the reason for the withdrawal.Fibo Markets Loses CyprusLicenseThe movecaps a months-long wind-down process that began in December 2024, when FiboMarkets Ltd (ex FIBO Group Holdings Ltd), told clients it would voluntarilysurrender its CySEC license. At the time, the company said it expected therenunciation process to wrap up by April 30, 2025.“We deeplyappreciate the trust you have placed in us over the years and regret anyinconvenience this process may cause. We are committed to ensuring a smooth andtransparent transition for all our clients,” the company commented back inDecember.FinanceMagnates.comreached out to company representatives for comment, but no response had beenreceived at the time of publication.While theFiboMarkets.com website now states that the license has been surrendered, theFIBOGroup.com website remains active, and the company is regulated by theFinancial Services Commission (FSC) in the British Virgin Islands (licensenumber SIBA/L/13/1063).CySEC Takes BroaderRegulatory ActionThe FIBOMarkets license withdrawal comes alongside broader enforcement activity byCySEC. The regulator announced today (Thursday) that four other investmentfirms have lost their authorizations and been removed from the InvestorsCompensation Fund.CySECwithdrew licenses from Oasis Wealth Management Ltd, The Alternative GMI Ltd,Itrade Global (CY) Ltd, and Viverno Markets Ltd. The regulator simultaneouslyremoved these companies from the ICF membership roster, though existing clientcompensation rights remain protected for past investments.It is worthnoting, however, that these are purely technical moves stemming from theearlier withdrawal of licenses from the mentioned entities. For example, in thecase of Viverno Markets, a B2B unit of BDSwiss, authorizationwas revoked in May after the company had not provided services for morethan six months.The otherthree firms, including ItradeGlobal, which operates the Tradewell and TradeFW brands, had given up theirlicenses some time ago, as had FIBO.This article was written by Damian Chmiel at www.financemagnates.com.