FXFINPRO Clients’ Compensation in View and EUR/USD Hit Strong Resistance
Published on: 01/17/20 10:02 AM
The third week of January 2020 witnessed EUR/USD capped below 1.1150 amidst uncertainties, following expectations from the US China trade deal and the China data dump. This did not stop CySEC from initiating the compensation process for FXFINPRO clients. Forex Broker comparison service FXBrokerFeed brings you the latest news bites and trends in the FX Broker Market, featuring CySEC begins Compensation process for FXFINPRO clients and EUR/USD climaxed in the face of strong resistance.
CySEC Initiates FXFINPRO Clients’ Compensation Process
Cyprus Securities and Exchange Commission (CySEC) began the processing of compensation claims for clients of FXFINPRO Capital, a brand operated by PFX Financial Professionals Ltd. CySEC calls on FXFINPRO clients to visit the claims portal to fill in required details as well as affirm their claims.
This update is coming following the FXFINPRO’s Cyprus Investment Firm (CIF)’s full withdrawal by CySEC, causing the company to fold up and halt its operation in October 2018.
Luckily for clients of FXFINPRO
, their claim is protected by the Investor Compensation Fund (ICF), since FXFINPRO belonged to ICF. Covered clients get compensation from ICF if a member fails to live up to its financial obligations.
Announcing the development, CySEC submitted that the initiation of the compensation process is coming after the regulator successfully revoked FXFNPRO authorization. It is reported that it is unlikely that FXFINPRO settles repay its obligations anytime soon, owing to its current financial standings.
EUR/USD Climaxed at 1.1142
fell short of expectation as the pair traded below 1.1150. Owing to the weakness of the dollar, many traders were expecting that the pair will trade higher. Figures from the Technical Confluence Indicator show that the euro/dollar pair faces strong resistance at 1.1142, and recovering may take a bit of struggle.
The indicator is a collection of technical indicators like the SMA 100-1h, SMA 200-1-day, SMA 10-1-day, BB 15min-middle, BB 1h-middle, Fibonacci 23.6% 1-day, and more.
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