It was week involving a number of somewhat severe regulator moves in Forex Industry News at LeapRate. Both the Cypriot and Australian financial regulators suspended / revoked the licenses of Retail Forex brokers. And in the US, an offshore broker was sued for taking US clients, a big no-no in the business. In our continuing…
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Cyprus financial regulator CySEC has imposed a fine of €225,000 on XFR Financial Ltd, the parent company of retail forex broker XTrade, for a variety of violations. The largest parts of the fine relate to: providing investment investment advice without authorisation, failing to act fairly, honestly and professionally or in the best interests of clients in granting trading bonuses,…
Read moreContinuing its string of warnings against forex and binary options brokers targeting traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has issued a warning to investors regarding XForex / XTrade (at website xforex.com). XForex.com was recently integrated by parent company XFR Financial Ltd into sister brand XTrade.com, alongside a major marketing campaign which…
Read moreAustralia financial regulator ASIC has announced that as a result of its intervention, licensed Retail Retail Forex and CFDs broker XTrade.au Pty Ltd will implement changes to the way it handles client money. The Australian arm XTrade.au is part of the global XTrade brand which also has licensed operations in Cyprus and Belize, and which recently…
Read moreXFR Financial, the CySEC regulated CIF of trading brands XTrade and XForex has deployed AU10TIX BOS SaaS (Cloud) service; enabling 100% automated end-to-end processing that includes auto-classification, content extraction, logical authentication, tampering forensics and additional checks. AU10TIX BOS is the only solution on the market capable of such depth and breadth of authentication checks across a wide range…
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