Forex CT hit with $20 million penalty for unconscionable conduct LeapRate

June 02, 2021 BY Steffy Bogdanova

Forex CT hit with $20 million penalty for unconscionable conduct

The firm was also found to have employed high-pressure tactics when it came to making sales, recommended trading sales which were found to be inappropriate for its clients, made deceptive representations to clients, failed to comply with several financial services laws, and finally implemented remuneration schemes and a trading floor culture based on maximum trade…

July 17, 2020 BY Steffy Bogdanova

Forex Capital Trading sued for unconscionable conduct and conflicted remuneration

The Australian regulator also alleges that Forex CT contravened a ban on conflicted remuneration under the Corporations Act by paying account manager bonuses primarily based on client “net deposits” (total client deposits less withdrawals) and failed to act in the best interests of clients. This may add a maximum civil penalty of $1,000,000 for the…

June 05, 2020 BY Steffy Bogdanova

OTC issuer Forex Capital Trading’s AFS licence cancelled

The Australian watchdog discovered a number of Forex CT clients suffered significant losses in the size of hundreds of thousands of dollars, including from their superannuation accounts, from investing in these products. Forex CT’s AFS licence will continue to end of July to allow setting a dispute resolution scheme in place and to facilitate the…

Tag: Forex CT