Forex & Trading News

Forex CT, an Australian retail forex and CFD broker, was ordered by the Federal Court to pay a $20 million penalty for a system of unconscionable conduct that pressured vulnerable clients into depositing money many could not afford to lose. Its sole director was fined $400,000 and banned for eight years.

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.

eToro, one of the world's most recognisable retail trading brands, has agreed to pay $1.5 million to settle SEC charges that it operated an unregistered broker and clearing agency for crypto assets sold as securities — and will strip its US crypto menu back to just three tokens.

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.

VPR Safe Financial Group, the Cyprus-licensed operator of retail forex and CFD brand Alvexo, has settled with CySEC for €50,000 over suspected compliance failures stretching across eight years — and has since handed back its European licence entirely.

A class action seeking A$948 million is advancing through Australia's Federal Court against IC Markets and its billionaire founder Andrew Budzinski. The opt-out window has closed, locking thousands of retail CFD traders into consolidated proceedings as the case moves toward trial.

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.

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.

Australia's Federal Court ordered Binance Australia Derivatives to pay $10 million after it misclassified 524 retail clients as wholesale investors — letting them retake a multiple-choice quiz until they achieved a passing score.

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.

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.

FinCEN, the SEC, and FINRA simultaneously resolved action against Canaccord Genuity LLC — totalling $120 million — for willful Bank Secrecy Act violations spanning six years. At least 160 suspicious activity reports were never filed.