news
Two More Senior Exits at Axi as the Head of New Business and the UK Compliance Chief Depart
Axi lost global Head of New Business Stuart Cooke and UK and EU compliance head Katie le Roux at the end of July. Both sat on the FCA entity board.
FCA
12 articlesForex news and analysis tagged “FCA” on BestForex.io.
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Magnum FX Fined 150,000 Euro by CySEC Over Licence Conditions, Then Hands Back Its Cyprus Authorisation
CySEC fined Magnum FX 150,000 euro over authorisation and licence condition failings for 2019 to 2020, and the broker later renounced its Cyprus licence. A firm that struggled to hold the standard its licence required and ultimately left the regime.
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F1 Markets Fined 150,000 Euro by CySEC for Compliance Breaches After an Earlier Suspension at the FCA Request
CySEC fined retail forex broker F1 Markets 150,000 euro over compliance breaches in 2022, following an earlier suspension made at the request of the UK's FCA. A layered record across more than one jurisdiction.
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FXTM Gives Up Its UK FCA Licence as ForexTime Pulls Back From the British Retail Market
Forex broker FXTM (ForexTime) is giving up its UK FCA licence in 2026, pulling back from the British retail market toward the UAE and Asia. The exit is voluntary — no misconduct alleged. But a UK FCA authorisation is one of the strongest credentials a retail forex broker can hold, and FXTM has now given it up, just as it gave up its Cyprus licence before.
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FCA Fines FXTB 276,100 Pounds for Pressuring Clients Into CFDs and Giving Advice It Was Not Allowed to Give
The FCA fined CFD broker FXTB (Forex TB) 276,100 pounds in 2024 for pressuring clients into trading, unauthorised advice and false professional client status. A system designed to reach directly into clients’ pockets.
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HTFX Shuts Down Worldwide After Losing Its Cyprus and UK Licences and Retreating Offshore
HTFX, a retail forex and CFD broker focused on the Far East, has ceased operations around the world. Its main website now shows only a parked domain, the visible end of a collapse that ran through two European regulators before the business finally went dark.
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XTrade Loses Its Licence Over Vulnerable Clients Pushed Into CFDs
The FCA cancelled XTrade's UK permission after finding the firm had marketed and sold contracts for difference to vulnerable clients who lacked the experience to understand the products. The regulator concluded the firm had failed the suitability and appropriateness tests its own rules required.
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Infinox Fined £99,200 for 46,053 Missing Transaction Reports in FCA's First MiFIR Case
Infinox Capital Limited has been fined £99,200 by the FCA after failing to submit 46,053 transaction reports over six months — a breakdown that left tens of thousands of single-stock CFD trades invisible to the regulator in its first-ever MiFIR enforcement action.
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FCA Ban and £2 Million Fine Upheld: The British Steel Adviser Who Put His Own Profits Before People's Pensions
The Upper Tribunal has confirmed the FCA's lifetime ban and £2,037,892 fine against Darren Reynolds — the worst British Steel pension adviser the regulator encountered — after he falsified documents, lied to regulators, and extracted assets from his own firm.
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Bluesky Wealth: Banned for Life
Frank Breuer ran Bluesky Wealth for four years without professional indemnity insurance, misled the FCA about it, then stripped the firm of assets while under restriction. The regulator issued a lifetime ban and a £755,000 fine.
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Dinosaur Merchant Bank: The Lights Went Out
A routine system upgrade in June 2024 silently disconnected Dinosaur Merchant Bank's CFD surveillance. For four months, billions in trades ran unmonitored. The FCA fined the firm £338,000 — but the real question is whether any market abuse moved through the gap.
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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.