LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Russia’s Commission for the regulation of relations in the financial market (KROUFR) today added Forex broker MXTrade to its “Black List”.
Clients of the broker have complained that they are unable to withdraw their profits generated from trading. Instead, the company allows them to withdraw only the initially invested money. The company does not respond to clients’ complaints.
This is not the first time that MXTrade’s activities spark concerns. Previously, the regulators of Cyprus and Italy have issued warnings against this FX firm, whereas in December last year, Turkey’s Capital Markets Board banned the Turkish version of MXTrade’s website.
The addition of MXTrade takes the number of companies in KROUFR’s “Black List” to 15. The organization has been keeping such a list of suspicious Forex firms since August 2015.
You can view the full “Black List” by clicking here.
Latest research from Maria Nikolova (see all)
- TradingView adds one-click alerts and orders - May 19, 2016
- ICE to bring new funds rate futures contract to market in late 2016 - May 19, 2016
- LCH’s SwapClear compresses more than $1 quadrillion of cleared notional - May 19, 2016
- Darwinex launches new feature allowing traders to hide strategies - May 19, 2016