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Trading Point fined $140,000 by CFTC

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CFTC settling one-by-one with 25 firms named last year for taking US retail clients.

CFTC logoThe CFTC reported that MT4-based broker Trading Point, located in Cyprus, has been fined $140,000 for soliciting or accepting U.S. customers in 2010 and 2011. Trading Point was one of 25 Forex firms named by the CFTC for soliciting or taking US clients, without being registered with the NFA or CFTC.

Some of the 25 firms named have been able to settle without receiving a fine, such as InterForex. However $140,000 seems to be the CFTC's preferred settling level, with similar amounts having been agreed to by FXOpen and City Credit Capital.

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Tagged in: CFTC fine City Credit Capital Cyprus Cyprus Forex Cyprus FX CySEC FXOpen InterForex MT4 MT4 broker Trading Point unregistered Forex broker

Comments

  • paul Wednesday, 20 February 2013

    change of name

    do you think this is why they changed their name to XE Markets?

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  • Gerald Segal Wednesday, 20 February 2013

    RE:change of name

    Paul - I doubt it. That was a relatively inconsequential fine, for marketing to US customers / taking US customers, and Trading Point was one of more than two dozen firms charged with that.

    Reply Cancel

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