CySEC, the Cypriot financial regulator, announced the withdrawal of CIF authorization from Holiway Investments due to noncompliance with legal requirements.
Holiway Investments runs the Milton Prime brand, which offers access to retail FX/CFD trading.
CySEC states that Holiway Investments does not meet the requirements listed in Article 16 of the Law, because it lacks the required amount of capital under Article 9 of the Prudential Supervision of Investment Firms Law.
In connection with these actions, the company should notify all concerned parties of the withdrawal of authorization, return funds to its clients, and cease providing all financial services other than those required to wind down operations.
Milton Prime is a no-dealing-desk (NDD) broker that provides clear and transparent trading conditions. The majority of trading operations are completed in less than 10 milliseconds. The minimum lot size offered by Milton Prime is 0.01 and the maximum leverage is 1:500.