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Tag: NFA

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14 Jonathan Smith in Brokers

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Trading.com Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

US CFTC sues the offshore based forex broker JAFX Ltd.

Aug 01 2018 13:33:55 Jonathan Smith in Market

The Commodity Futures Trading Commission (CFTC) in the US says it has filed a civic enforcement action against a offshore based broker JAFX Ltd., which is registered on the St. Vincent and the Grenadines.   CFTC accuses JAFX Ltd. Read more

Estonian FX broker Tallinex ordered to pay back $10 mln. to US citizens

Jul 20 2018 13:58:09 Jonathan Smith in Brokers

A US Court has ordered  Tallinex Ltd., an Estonian company, licensed  in St. Vincent and the Grenadines to pay 10,289,391 USD in restitution to U.S. Customers, as well as a  681,888 USD civil penalty, the U.S. Commodity Futures Trading Commission (CFTC) says.    The U.S. Read more

FXCM gets $7 mln fine from CFTC, sells US business to Gain Capital

Feb 07 2017 08:31:03 Jonathan Smith in Brokers

In a surprising twist of regulatory fate, FXCM – the largest US retail forex broker – got banned from doing business there and was fined $7 million by the CFTC, all in the fateful afternoon of February 6, 2017. The reason: misleading customers and regulators. Read more

US forex traders to have greater transparency with respect to execution data

Jan 06 2017 08:34:24 Jonathan Smith in Market

The National Futures Association (NFA), the self-regulatory organization overseeing the activities of the US forex brokers, said its new rules on disclosure of transaction data have been approved by the Commodity Futures Trading Commission (CFTC) and will come into effect as of March 31, 2017... Read more

NFA orders US forex brokers to raise margin requirements for GBPUSD

Nov 07 2016 15:27:54 Forexbrokerz.com in Market

The US National Futures Association (NFA), the self-regulatory organization overseeing the activities of the US forex brokers, said it is raising the required minimum security deposit for transactions with the GBP from 2% to 5%. Read more

NFA fines FXDD $500,000 for inadequate anti-money laundering program

Dec 13 2014 12:05:11 Forexbrokerz.com in Brokers

National Futures Association (NFA) has fined New York firm FXDirectDealer LLC $500,000 for inadequate anti-money laundering program and failure to supervise. The fine comes seven months after FXDD US retail forex acccounts were acquired by FXCM. Read more

ILQ to compensate its US clients over forex hedging

Aug 14 2014 08:46:48 in Brokers

Institutional Liquidity (ILQ) LLC, an ex-US forex broker, which terminated operations in April 2014, has agreed with NFA to compensate all their former US clients who have suffered losses due to hedging. Hedging is prohibited in US. Read more

NFA Prohibits US Forex Brokers From Accepting Credit Cards

Jun 24 2014 08:32:57 Forexbrokerz.com in Brokers

Just a couple of days after it became clear that traders' deposits with US Forex brokers have hit a record low, the US retail forex industry is about to take another blow. If NFA ban on credit card deposits get CFTC approval, brokers will likely hit another hurdle attracting new clients. Read more

ILQ Issues Notice to Clients on Business Liquidation

Apr 10 2014 07:19:08 Forexbrokerz.com in Brokers

Institutional Liquidity (ILQ) LLC, the US futures commission merchant (FCM) which a couple of days ago stunned the trading community by announcing the transfer of its US futures business to rival Advantage Futures, has just published a notice to its clients concerning the liquidation of the b... Read more

CFTC Slaps $275,000 Penalty on CMS Forex over Capitalization Flaws

Apr 08 2014 06:10:20 Forexbrokerz.com in Market

The United States Commodity Futures Trading Commission (CFTC) on Monday imposed a $275,000 penalty on Forex broker Capital Market Services, LLC (CMS) over failures to meet requirements for the capitalization of Futures Commission Merchants (FCM), Retail Foreign Exchange Dealers (RFED) and FDMs. Read more

CFTC Takes Action against $1.15M Fraudulent Forex Scheme

Mar 21 2014 07:00:03 Forexbrokerz.com in Market

The United States Commodity Futures Trading Commission (CFTC) announced on Thursday that it had taken enforcement action against Dallas citizen Steven Lyn Scott over soliciting clients to pump funds into a fraudulent Forex scheme. Read more

CFTC Presses Charges against Forex Fraudsters over $2.3M Scam

Feb 20 2014 07:21:18 Forexbrokerz.com in Market

The United States Commodity Futures Trading Commission (CFTC) on Wednesday announced that it had pressed charges against two residents of North Carolina over numerous violations of the Commodity Exchange Act (Act) and the CFTC regulations. Read more

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