AFX Markets Ltd

In special administration 27 August 2019

FRN: 560872

AFX Markets Ltd (AFX) is an online FOREX and CFD broker and was placed in Special Administration following a court application made by the FCA on 27 August 2019. At the hearing, Jonathan Avery-Gee and Daniel Richardson of CG Recovery were appointed Special Administrators of AFX by the court (the High Court of Justice of England and Wales).
 
The FCA made the court application because of concerns that AFX was unable (or likely to be unable) to pay its debts. Also, special administration would protect client money, and help return that money to clients as soon as possible.
 
A previous court action by the FCA (on 31 July) froze all AFX’s assets and required AFX to stop any regulated activity, except to close all open positions. The FCA took this action because of concerns about AFX’s financial position and its arrangements for safeguarding client money.

See our investment compensation limits and their conditions on our Investments page.

 

  • 15 Mar, 2021

    FSCS has completed its initial review of AFX Markets Ltd. We have concluded that customers may be able to receive compensation from FSCS regarding the losses suffered.

    We will shortly be asking clients of AFX Markets Ltd to submit claims via our online claims service. Owing to the complexity of the AFX Markets failure we will review claims on a case-by-case basis. Also, customers are likely to be asked to complete a supplementary form in relation to AFX.

    We’re sorry that it’s taken some time to reach this stage and we’re grateful for your patience.

    FSCS is free to use and you don’t need to use a representative to make a claim. If you claim with us directly you will receive 100% of any compensation you’re due

  • 28 Aug, 2019

    The Special Administrators will carry out an assessment of the client money held by the firm to confirm the current position. After this, the Special Administrators will work to return as much client money as possible to customers, as quickly as possible.
     
    FSCS is working closely with the Special Administrators to determine the firm’s position in regards to client money. At this stage there is no need for customers to make a claim with FSCS. Instead, customers should subscribe to this page to receive the latest updates on FSCS's handling of the AFX failure.

CG & Co

Contact the Special Administarors by phone on the number below.