Less than a day after IBFX Inc (TradeStation Forex) was ordered by the CFTC to pay a $1 million civil monetary penalty for violating capital requirements, the broker encountered further sanctions from US authorities. The U.S. National Futures Association (NFA) announced today that it has ordered IBFX, Inc. (IBFX), an NFA Member registered retail foreign exchange…
Read moreFollowing a complaint by the NFA in September last year, the regulator has now accepted an offer that Comtrade Financial Company owner Michael A Plaia should refrain from NFA membership for two years and pay $10,000 to reapply after that period, and that his colleague, Nickolas Weber, should never re-apply for NFA membership
Read moreRegulatory authorities have continued their disapproving stance with regard to FX schemes which promise very high returns, this time with the NFA banning Texan managed account provider McElhannon Group and its owner, for promising 457% return over a 13 year period
Read moreNFA accepts settlement from introducing broker and its senior management following a complaint regarding AML and execution procedure, whilst concurrently banning Diamond Head Capital from NFA membership
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