Trading Point fined $140,000 by CFTC

The 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.

For more on the global Forex industry see the LeapRate Dow Jones Forex Industry Report.

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