Forex & Trading News
Latest market insights, broker updates, and trading analysis.
CySEC Withdraws the Licence of CFD Broker Conotoxia After Roughly a Year of Suspension
The Cyprus Securities and Exchange Commission has permanently withdrawn the licence of Conotoxia, ending a saga that saw the CFD and forex broker suspended for almost a year before the regulator concluded the underlying problems were not going to be resolved.
InvesaCapital Operator Imermarket Hit by South Africa Over CFDs Offered Without Proper Authorisation
South Africa's FSCA has provisionally withdrawn the licence of Imermarket — the company behind the InvesaCapital trading platform — after finding it offered contracts for difference without proper authorisation and gave advice that caused clients to lose money.
South Africa Freezes Mixirite and Bans It From Taking Client Money Over High-Pressure CFD Sales
The FSCA has provisionally withdrawn the licence of Mixirite, the firm behind the UMarketPro and Protea Markets trading platforms, and barred it from conducting financial services business while it investigates alleged high-pressure sales tactics, unauthorised advice, and promises of guaranteed returns.
QuickTrade Fined ZAR 710,000 by South Africa as the FSCA Widens Its Money Laundering Sweep Across CFD Brokers
South Africa's financial regulator has fined QuickTrade ZAR 710,000 — about USD 44,000 — for breaching the country's anti-money laundering rules, the latest in a steady run of enforcement actions against CFD and forex brokers across the region.
Saxo Bank Hit With Major Fine Over Anti-Money-Laundering Gaps
Denmark's financial regulator has fined Saxo Bank DKK 313 million — roughly USD 49 million — over failures in its anti-money laundering controls, the bank's largest penalty in years. The failings centred on its white label arrangements, where it provides trading infrastructure to other firms without adequately knowing the end clients behind them.
FXOpen Loses Its Australian Licence After ASIC Found It Did Not Have the People to Run the Business
ASIC cancelled FXOpen AU's Australian financial services licence after finding the firm lacked adequate human resources to provide or supervise its licensed financial services — a failure of governance rather than misconduct.
Prospero Markets Loses Its Licence After Money Laundering Charges and a Federal Court Wind Up
ASIC cancelled the Australian financial services licence of Prospero Markets Pty Ltd, a forex and derivatives broker now in liquidation, closing a case that began with money laundering charges against its former officers and ended in the Federal Court.
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.
IC Markets EU Fined EUR 200,000 by CySEC for Circumventing the Margin Rules That Protect Retail Traders
The Cyprus Securities and Exchange Commission fined IC Markets (EU) Ltd EUR 200,000 after finding the broker participated in activities that circumvented the initial margin protections European rules impose on CFDs sold to retail clients. The firm denies the finding and has begun legal action.
ASIC Cancels Trive Licence After Finding Serious Deficiencies in Its CFD Business
Australia's corporate regulator has cancelled the financial services licence of Trive, a contracts for difference issuer that stopped taking on new clients last year after ASIC found serious deficiencies in how it ran its business.
IronFX, Now Notesco, Settles With CySEC for €100,000 Over the Rules That Protect Retail CFD Clients
IronFX, one of the most heavily marketed retail forex brands of the past decade, has settled with CySEC for €100,000 over the rules governing how CFDs are sold to retail clients — under a new name, Notesco.
FOREX.com Fined $700,000 After Clawing Back $2.84 Million From Customers Following Its Own Platform Glitch
FOREX.com was fined $700,000 by the NFA after it responded to a trading-platform malfunction by clawing back $2.84 million from customers who had come out ahead — while returning just $35,000 to those who had lost.