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The announcement concerned possible violations of Cyprus investment-services legislation. It did not describe a criminal conviction, establish fraud, or state that a court had found Hoch Capital liable. The settlement was also only one of several regulatory actions involving the company.
What the 2019 settlement covered
CySEC’s Board decision was dated 4 March 2019, while the public announcement was issued on 27 March 2019. The settlement related to the regulator’s examination of Hoch Capital’s compliance with the Investment Services and Activities and Regulated Markets Law of 2017, Law L.87(I)/2017.
The provisions identified in the decision were:
- Section 5(1): general principles governing the performance of investment activities;
- Section 25(1): general principles applicable to investment firms; and
- Section 25(3): information provided to clients.
CySEC described the matters as possible violations. That wording matters: a regulatory settlement is not the same thing as a final judicial finding that a company committed fraud or that every allegation was proven in court.
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How much was paid, and to whom?
Hoch Capital paid €200,000 in full under the settlement. CySEC stated that the money was revenue of the Treasury of the Republic of Cyprus, rather than income retained by CySEC.
CySEC relied on Article 37(4) of the Cyprus Securities and Exchange Commission Law of 2009 as the legal basis for settling a violation or possible violation. That provision allows the regulator to settle where there are reasonable grounds to believe that conduct may have breached legislation falling under CySEC’s supervision.
The €200,000 settlement was not the only CySEC action
Hoch Capital later became the subject of separate regulatory measures. These events should not be merged into one proceeding:
| Date | Action | Key detail |
|---|---|---|
| 4 March 2019 | CySEC Board decision | Decision behind the €200,000 settlement |
| 27 March 2019 | Settlement announced | €200,000 paid in full |
| 1 June 2020 | Authorisation suspended | CySEC suspended the CIF authorisation in whole |
| 2 November 2020 | Separate Board decision | Decision behind a later €260,000 settlement |
| 11 December 2020 | Second settlement announced | €260,000 paid in full |
| 28 March 2022 | Authorisation withdrawn | Hoch Capital had expressly renounced its authorisation |
| 10 June 2022 | ICF membership withdrawn | Membership ended following withdrawal of the CIF authorisation |
The separate settlement announced in December 2020 involved a different and broader set of issues. CySEC assessed possible compliance failures covering January 2018 through April 2020, including authorisation, governance, organisational arrangements, record keeping, conflicts of interest, client information, order execution and the accuracy of information submitted to the regulator. Its amount was €260,000, not €200,000.
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What happened to Hoch Capital’s licence?
On 1 June 2020, CySEC suspended Hoch Capital’s CIF authorisation 198/13 in whole. The suspension followed information received from the UK Financial Conduct Authority (FCA) concerning Hoch Capital’s operation in the UK market.
CySEC said the suspension was based on suspicions of alleged breaches involving matters such as:
- the treatment of clients;
- the suitability or compatibility of financial instruments;
- marketing communications;
- the timing of information supplied to clients; and
- whether information was comprehensible.
While the suspension was in force, Hoch Capital was prohibited from providing or carrying out investment services or activities, entering into new business transactions or accepting new clients, and advertising itself as an investment-services provider.
CySEC did allow the company, subject to existing clients’ wishes, to complete pending transactions in accordance with client instructions and return client funds and financial instruments. That limited permission did not amount to permission to take on new customers or continue normal investment-services business.
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Current regulatory status
CySEC’s public register, checked on 7 August 2026, lists Hoch Capital Ltd under “Former Investment Firms (Cypriot)”. The register shows:
| Licence number | 198/13 |
|---|---|
| Licence date | 13 May 2013 |
| Licence status | Voluntary Renunciation |
| Associated domains | hochcapital.com, itrader.com and tradeATF.com |
CySEC announced on 15 April 2022 that it had withdrawn the authorisation at a meeting held on 28 March 2022 because Hoch Capital had expressly renounced it. As a result, Hoch Capital should not be described as a currently licensed Cypriot investment firm based on the present register entry.
What the ICF decision means for former clients
On 10 June 2022, CySEC announced that Hoch Capital’s membership in the Investors Compensation Fund (ICF) had been withdrawn after the CIF authorisation was withdrawn.
The end of ICF membership does not, by itself, eliminate the rights of covered clients to seek compensation for investment operations carried out before membership was lost. Eligibility still depends on the conditions in the applicable ICF rules and the facts of the individual claim.
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Former clients should therefore keep account statements, deposit and withdrawal records, trade confirmations, correspondence, complaints and any documents showing the identity of the contracting entity. They should verify the current claims process directly through official CySEC or ICF channels rather than assume that a settlement automatically creates a right to reimbursement.
Practical checks for anyone contacted by a related trading website
- Check the regulator’s register. Do not rely only on a website’s licence number, logo or “regulated” statement. Confirm the firm’s name, authorisation status and permitted services on the regulator’s own website.
- Match the legal entity. A website domain, trading brand and regulated company may not be the same entity. Read the account agreement and identify who receives the money and provides the service.
- Do not treat a settlement as proof of safety. A past settlement does not mean a firm is currently authorised or that future transactions are protected.
- Be cautious with recovery offers. People claiming they can recover money for an upfront fee may themselves be attempting another scam. Verify them independently before sending documents or payment.
- Preserve evidence. Save original emails, payment references, platform screenshots and phone numbers. These records can be important for a complaint, bank dispute or compensation application.
Anyone considering a complaint should contact the relevant regulator, bank or payment provider promptly. Time limits and procedures can vary, and neither a CySEC settlement nor ICF membership guarantees that every customer will recover money.
Official documents
- CySEC Board decision on the €200,000 settlement
- CySEC Board decision on the separate €260,000 settlement
- CySEC suspension decision
- CySEC former investment-firm register entry
- CySEC withdrawal decision
- CySEC announcement on withdrawal of ICF membership
FAQ
Did CySEC fine Hoch Capital €200,000?
CySEC described the 27 March 2019 measure as a €200,000 settlement, paid in full, concerning possible violations. Calling it simply a fine loses the distinction between the settlement and a penalty imposed after a final court judgment.
Did the settlement prove that Hoch Capital committed fraud?
No. The 2019 announcement referred to possible violations of specified legal provisions. It did not establish fraud or announce a criminal conviction.
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Is Hoch Capital still licensed by CySEC?
No. CySEC’s public register lists Hoch Capital under former investment firms, with licence 198/13 shown as voluntarily renounced. CySEC announced the withdrawal of the authorisation in April 2022.
Was the €260,000 payment the same as the €200,000 settlement?
No. The €260,000 settlement was announced on 11 December 2020 and followed a separate investigation and Board decision. It must not be substituted for the €200,000 settlement announced in March 2019.
Does withdrawal from the ICF automatically prevent former clients from claiming compensation?
No. CySEC stated that loss of ICF membership does not by itself remove covered clients’ rights to seek compensation for qualifying investment operations carried out before membership was lost. The applicable conditions still need to be met.
The Bottom Line
The March 2019 action was a €200,000 CySEC settlement with Hoch Capital over possible compliance violations involving investment activities and client information. It was separate from the later €260,000 settlement and the 2020 suspension. Hoch Capital’s authorisation was ultimately withdrawn after voluntary renunciation, and the firm is now listed by CySEC as a former investment firm. Former clients should check official compensation and complaint procedures directly, while new investors should not rely on the company’s historical licence or settlement record as evidence of current authorisation.
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