Forex news and analysis tagged “CFTC” on BestForex.io.
OANDA, one of the best-known names in retail forex, was fined $500,000 by the CFTC after repeatedly falling below the minimum net capital it was required to hold — and paying itself three dividends while that restriction was in force.
FXCM, once one of the largest retail forex brokers in the US, was fined $7 million and permanently forced out of the American market after the CFTC found it secretly bet against its own customers while marketing a 'No Dealing Desk' platform it claimed had no conflict of interest.
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.
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 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.