Reginald Thorne
Regulatory Affairs Critic
Reginald Thorne covers enforcement, compliance and regulators. Blunt and detail-driven, he tracks fines, licence surrenders, AML failings and the offshore structures brokers use to sidestep tier-one oversight.
Reginald Thorne is an editorial pen name of the BestForex.io in-house critic desk. See our editorial policy.
Articles by Reginald Thorne
Celsius Network's Collapse: How a $20 Billion Crypto Lender Misled Its Own Customers
The CFTC and DOJ have charged Celsius Network and its founder Alex Mashinsky with fraud. At its peak, the platform held $20 billion of customer assets — almost none of which was managed as promised.
$10 Million Fine: How Binance Let Retail Traders Take a Compliance Quiz Until They Passed
Australia's Federal Court ordered Binance Australia Derivatives to pay $10 million after it misclassified 524 retail clients as wholesale investors — letting them retake a multiple-choice quiz until they achieved a passing score.
My Forex Funds: $20 Billion. Frozen. Gone.
The CFTC and Canadian regulators moved simultaneously against My Forex Funds, freezing $310 million in assets and alleging the entire prop trading model was a fraud designed to extract fees from traders who could never actually win.
FalconX: Operating Without a Licence
FalconX settled CFTC charges for $1.8 million after operating as an unregistered futures commission merchant. The verdict on crypto intermediaries claiming to be mere "technology providers" is now unambiguous.
Saxo Bank's €42m AML Reckoning: So Much for 'Premium'
Saxo brands itself as the grown-up, top-tier bank — then collects a DKK 313m AML fine, a Hong Kong penalty and a founder exit. BestForex.io counts the cost.
IG Says 'Trade Responsibly,' Then It Offers You £3,000 to Start
IG launches a "Trade Responsibly" campaign while offering £3,000 free shares to new customers. BestForex.io asks whether the message and the incentive can coexist.