101,000 Exness, which has licences from the FCA and CySEC, has announced its intention to close its retail operations in the European Economic Area, including the UK. The broker intends to focus on B2B and expand its influence in other markets.
The company’s official website states: “We appreciate all of our customers and understand that this decision may cause disappointment, so the company apologizes for any inconvenience. If you have an interest in discussing working with us on B2B, please email us: [email protected]” David Morris, chief executive of the London office, said: “The ever-changing regulatory framework and significant changes in the industry have been the main reason for the B2B sector. This decision is the most logical step in the company’s work in the European region. It’s a great way to enter new markets and find new partners to help us move forward.” Last month, the broker teamed up with Sumsub to fight fraud and fully meet AML requirements.
To promote business in the international sphere, Exness had to resort to introducing an automated KYC solution in many states. Working with Sumsub will allow you to create one solution to meet all the rules and customize your customer. First of all, this applies to procedures for transmitting identification and protection against the actions of fraudsters.
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