Forex & Trading News

NAGA cofounder Yasin Qureshi was sentenced in 2024 over the Cum Ex tax scandal, tied to his earlier role at Varengold Bank. He left NAGA in 2019. Full context.

CySEC reached a 200,000 euro settlement with CFD broker Colmex Pro in 2025 over authorisation, organisation, conflicts of interest and client disclosure failings found across a two-year supervisory review. When a regulator settles across four load-bearing compliance areas for a substantial sum, the shape of the case tells you more than the absence of an admission does.

New Zealand's FMA cancelled Rockfort Markets' derivatives issuer licence in 2024 after the firm contravened eight of its licence obligations. Eight breaches is a pattern, not an accident.

Banxso, the South African CFD broker at the centre of one of the country's largest retail trading scandals, has been placed into final liquidation. A court has declared the company hopelessly insolvent, the regulator has fined it and its directors more than 2 billion rand, and the matter has been referred to the police for criminal investigation.

AvaTrade settled with the Alberta Securities Commission in 2020 over unregistered CFD trading, paying 30,000 dollars and disgorging 213,428 dollars in revenue.

CySEC secured a 225,000 euro settlement from FxNet (FXNET Limited), operator of EMS Brokers and NessFX, over compliance lapses found in a 2021 to 2022 review. It is not the firm's first penalty from the regulator — a pattern worth knowing about before funding an account.

NAGA Group posted a 37 million euro loss for 2022, parted with auditor Ernst and Young, restated its 2021 results and filed late. What the turmoil means for clients.

CySEC reached a 150,000 euro settlement with NAGA Markets Europe over breaches spanning authorisation, suitability, best execution and product intervention rules.

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.

Belgium's FSMA reached an agreed settlement with AvaTrade's European arm over offering investment products without the required prospectus and unapproved marketing.

The Cyprus regulator has repeatedly penalised Forex24, a licensed foreign exchange and CFD broker, over its inability to file the regulatory reports every Cyprus investment firm is required to submit. The individual fines are small. The pattern behind them is the part worth reading.

CySEC fined MCA Intelifunds, the operator of forex broker FXORO, 360,000 euro over breaches of Cyprus investment law found in a 2022 inspection. The machinery that turns the law into practice was missing.