The Belize regulator cleans house, delicenses over 40 brokers

The International Financial Services Commission of Belize (the “IFSC”) warned the public Finpro Trading, BlueMax Capital, Fort Financial Services, NPBFX, Salma Markets, Top4FX, IFA FX, ZB Forex and 40 more companies have not renewed their forex broker licenses. Therefore, those companies are not authorized to provide, carry on, or transact any of the international financial services provided for in the law of Belize as of February 1, 2019.

Here is the complete list of entities are no longer licensed by the International Financial Services Commission of Belize (arranged in alphabetical order).

I am curious what prompted such drastic action.
Probably because of tightening regulations in other jurisdiction. Keeping regulation lax will play a bad trick for them in futures, since new traders' awareness about bad brokers is rising. They don't want to be labeled "the regulator for scams", that's why take some actions to improve reputation.
 
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