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FXCM Fined $7 Million and Banned From the US After Secretly Betting Against Its Own Forex Customers
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.