The Australian Securities and Investment Commission announced the ban of former Forex Capital Trading Pty Ltd (Forex CT) employee, Steven Marsh, from providing financial services for three years.
Steven Marsh served as an account manager at Forex CT between February 2018 and March 2019. In this period, Marsh traded CFDs and FX Contracts.
The Australian watchdog found that Marsh did not comply with the financial services law and was not adequately trained to provide financial services.
ASIC also discovered that Marsh made misleading statements to clients. He promised they would make profits trading with Forex CT when actually CFD is a relatively high-risk investment. Marsh also promised that risk the of trading losses is reduced if clients made increased deposits in their trading accounts while in reality increasing deposits is placing more money at risk.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.