FinTelegram already reported in detail a few weeks ago about the voluntary renouncement of its CySEC CIF license 207/13 and thus the withdrawal of the Cypriot Rodeler Ltd and its forex broker brand 24option. The pioneer among the EU forex brokers had paid tribute to the problems with the market situation and the regulators and voluntarily withdrew the CySEC license.
On June 1, 2020, the FCA suspended some investment companies regulated by CySEC for their unfair sales practices. These firms allegedly used unauthorized celebrity endorsements on social media as part of their marketing. One of these investment firms was Rodeler Ltd and its brand 24option. Just a few hours later, CySEC also temporarily suspended Rodeler Ltd and ordered them to take necessary actions in order to comply with regulatory provisions within one month. R.I.P Rodeler and 24option.