Forex and Binary Options Firms and the Fines They Have Received From Regulatory Authorities:

Within this data analysis, we are going to have an overview of the various Forex companies that have had run ins with the law and whether these run ins with the law are a regular habit. From this data table below, you will be apprised of which companies you should and should not do business with. Go here if you want to learn more about the regulators.

Forex Binary Options Firm and WebsiteIssuing Authority ReasonRegulatory ActionDate
North American Asset Management (website taken down?) CFTCFraud on Precious Metals TradingCivil Injunctive Action

2/22/16

BlackfortFX (website eliminated?) NZ High CourtPonzi SchemeReparations of $7 million

2/22/16

Fidelis Trading International/ http://fidelisinternationaltrading.com/en/New Zealand FMADenied Withdrawal RequestsWarning

2/22/16

MarketsCT http://marketct.comFCAOperating as a clone to a FCA registered firm.Warning

2/15/16

Capital Option http://capitaloption.com and SkyFx (no website)CIFMany Reported ViolationsSuspended Licenses

2/15/16

Landmark Trade Ltd: http://landmarkglobal.com/landmark-trade-services/ and FXMARKER: http://fxmarker.com/our-companyCNMVUnlicensed Trading ActivityBlacklisted

2/10/16

Capital World Markets (no website) City of London PolicePonzi Scheme Targeting Gurkha and Nepalese CommunityFormal Investigation

2/4/16

MT Capital Partners (no website) and FXPrivate Company (no website)IFSC Belize Trading Without License Cease and Desist/Companies Dissolved

2/1/16

Xdirect Mumbai: http://xdirect.netIndian PoliceTrading Without License Warning

1/20/16

MXTrade: http:mxtrade.comTurkish PoliceFalsely Targeting CustomersBlocked Users From Website

12/29/15

USG Capital Israel: https://www.usgcapital.co.il/Tel Aviv District CtOvercharging and Operating Without a License$18 Million Class Action

12/23/15

Utrade Premium (no website) Israeli CourtFinancial Misreporting Banned from All Investing Activities

12/22/15

USG FOREX: http://usgforex.comASICFalse Clone of Licensed: Union Standard International GroupWarning and Website Removed

12/22/15

JJ Bauer Asset Management: http://jj-bauer.com/London PoliceFalse Clone of Licensed AgencyWarning

12/11/15

IROM Brokers: http://ironbrokers.comLondon PoliceOperating without a licenseWarning

12/10/15

IIB International Brokers: http://libfx.com/London PoliceUsing a Bulgarian Registered Entity to Lure CustomersDenounce

12/10/15

AUSIEX: https://ausiex.com.auASICFailure to Respond to Infringement By Disciplinary BoardInfringement Notices

12/9/15

AlgoBanque: http://algobanque.comFINMAInvented a False Presence in Switzerland Warning

12/4/15

1B Capital FX (no website)CFTC$50 million scheme. Formal Charges

11/16/15

Maxim Capital’s Assets: (no website)SFCMisleading information to defraud investorsAssets Frozen

11/10/15

XFOREX : http://xforex.comASICMisleading advertisingFined

11/3/15

FXCM : http://fxcm.comAMF200,000 Euro FineFined

10/28/15

Philip Mack Worley and McElhamen Group (no website)NFAMisleading marketing materialsBanned

10/22/15

NZGFT : http://nzgft.comASICDeceptive ClaimsLicense Revoked

10/15/15

Falcon Brokers: http://new.falconbrokers.comCYSECMismanaging Client FundsSuspension Letter

9/24/15

Clone Websites of ABS Group: http://fxabs.com.au and http://www.fxabs.comASICClone WebsitesShutdown

9/23/15

Millennium Capital: (no website)FBIJudgment for financial mismanagement of client assetsRestitution Damages

9/13/15

Isik Menkul Degerler: http://isikmenkul.comCMBViolation of Principles of Investment Authority Sanctions

8/31/15

EXANTE: https://exante.euMalta CourtSuspected Money LaunderingInvestigation

8/16/15

IRON FX: http://ironfx.comCVMNot Licensed to Operate in BrazilBanned

8/19/15

EXANTE: https://exante.euUS SEC$100 million insider tradinglawsuit

8/14/15

IRON FX: http://ironfx.comCYSECWithdrawal IssuesSanctions

8/6/15

GTC Tradeup (no website)ASICEx Director Banned of Bankrupt CompanyBanned

7/24/15

Clone Company GGM: (no website)FCAUsing Another Firms License Banned

7/22/15

SAXO Bank: http://saxobank.comFSAReprimanded over SNB Crisis HandlingReprimand

1/10/15

CommexFX (no site)CySECFine for Misleading Cyprus RegulatorsFined

7/6/15

Safecap: http://markets.comCySEC168,000 EUR fine for regulatory violationsFined

7/2/15

CommexFX (no site)CySECLicense suspended for endangering client’s interestsLicense Suspended

7/1/15

McElhannan Group (no site)NFAViolationsSanctions

6/2/15

FXPrimus http://fxprimus.comFSCLicense suspended for not following regulationsLicense Suspended

5/28/15

SkyFX : http://skyfx.comCySEC20,000 EUR fine for outsourcing services to IsraelFined

5/21/15

UFX: http://ufx.comCySEC8,000 EUR fine for compliance failuresFined

5/20/15

Forex Trend : http://fx-trend.comFMAFailed to withdraw money from their accountsSanctions

5/4/15

FCStone (no site) CFtCCivil Monetary Penalty of $140,000Fined

5/1/15

IGCPm (no site)CFTC$100,000 fine and restitution damages of $447,342Fined

4/27/15

KSF Trade: http://ksftrade.comFCAunauthorized trader in UKUnauthorized Trader

4/27/15

CMC Markets http://cmcmarkets.com/enMASScolded over margin ratesWarning

4/8/15

FXPULP (no site)CySECBrokerage License TerminatedLicense Revoked

4/6/15

AGM Markets http://agmmarkets.comASICLicense Suspended for 6 monthsLicense Suspended

4/2/15

Trade Union (no site)CKFINBlacklistedBlacklisted

3/27/15

Grandegoldens Pty Ltd.: http://grandegoldens.com/ASICWarningWarning

3/27/15

Altamont Global (no site)CFTCLicense RevokedLicense Revoked

3/25/15

Alpari UK China: http://alpari.com/cnKPMGFraudulent TradersWaning

3/24/15

Hungary Securities Co. (no site)Hungary Central BankBank took over broker due to license suspensionLicense suspended

3/6/15

Bank of Beirut: http://bankofbeirut.com/FCA$3.2 Million fine for improper communicationFined

3/6/15

Chazon QTA Artists (no site)NFAPermanent BanBanned

2/27/15

Ftradition (no site)FCASuspected Seychelles CloneWarning

2/25/15

Aviva Investors http://aviva.comFCA$2.6 million penaltyFined

2/25/15

KGW Capital (no site)US Judge$3.9 penalty for running fraudulent currency fundFined

2/20/15

Talento Capital Markets: http://talentocapital.com/CySECNot licensed in CyprusWarning

2/19/15

Global Markets Ltd. Changed name to Interactive Brokerage Ltd. (no site)FSCChanged name after sanctionsWarning

2/17/15

Enfinium (no site)ASIClicense cancelledlicense revoked

2/16/15

Chikara FX: http://chikarafx.com/Ontario Securities CommissionWarning to avoidWarning

2/12/15

Banc De Binary: http://bancdebinary.com/CySEC125 Million EUR fine for misleading regulatorFined

2/5/15

Paragon FX and International Commodity Investor (no site)CFTCFined $250,000Fined

2/3/15

Simple Trading Corp. http://simpletradelimited.com/CNMVwarningWarning

1/27/15

Gold Coast Bullion: http://goldcoastbullionaustralia.com.auCFTC$9.6 million fine for restitutionFined

1/27/15

Allied Markets (no site)CFTC$1 fine for FOREX Ponzi SchemeFined

1/13/15

AGF Markets: http://agfmarkets-arnaque.comFCAoperating without a licenseWarning

1/6/15

GMT Markets: http://gmt-markets.comCNMVoperating without a licenseWarning

1/6/15

SpotFN (no site)FMAoperating without a licenseWarning

1/6/15

FXGL Capital (no site)FCAunauthorized forex tradingWarning

1/2/15

Wells Fargo Affiliates: http://wellsfargoaffiliates.com/FINRAFined Fined

12/19/14

Wells Fargo Advisors: http://wfainet.com/FINRAFinedFined

12/19/14

FXDD: http://fxdd.com/NFA$500,000 fine Fined

12/10/14

Ftradition (no site)AFMSuspected Seychelles CloneWarning

12/9/14

MFGlobal: http://mfglobal.comUS Courtssettlement for price manipulationSettlement

10/5/14

Monolith-Invest: http://monolith.nl/CRFINBlacklistedBlacklisted

10/10/14

Glen Jackson and Highlands Capital Management: http://highlandcapital.com/US Courts/CFTCPrevented from Registering with CFTC againSanctions

10/2/14

Peak Capital Management Group: http://pcmstrategies.com/CFTC$1.6 Million FineFined

9/30/14

SAC Capital (no site) CFTC$1.2 Billion fine and license revoked.Fined/License Revoked

9/17/14

Morgan Stanley http://morganstanley.comCFTC$280,000 fine for faults in KYCFined

9/16/14

Robare Group: http://robare-jones.comSECUndisclosed earnings and fined $440,000Fined

9/2/14

Citi Group Global Markets: http://icg.citi.com/icg/global-markets/index.jsp/FINRA$1.85 Million Fine for Supervisory ViolationFined

8/26/14

Bank of America: http://bofa.com/US Regulators$16.7 Billion for Countrywide and Merrill Lynch’s Role in 2008 Housing CrisisFined

8/12/14

Standard Chartered Bank: http://sc.com/NY State Department of Financial Services$300 Million penaltyFined

8/10/14

Linkbrokers: http://linkbrokers.com/SEC$18 Million feeFined

8/15/14

5Markets: http://5markets.com/AMFUnauthorized license in CanadaWarning

8/12/14

247Binary: http://247binary.com/AMFUnauthorized license in CanadaWarning

8/12/14

AAAFX: http://aaafx.com/AMFUnauthorized license in CanadaWarning

8/12/14

777Binary: http://777binary.com/AMFUnauthorized license in CanadaWarning

8/12/14

AnyOption: http://anyoption.com/AMFUnauthorized license in CanadaWarning

8/12/14

AskoBid: http://askobid.com/AMFUnauthorized license in CanadaWarning

8/12/14

AvaFX: http://avafx.com/AMFUnauthorized license in CanadaWarning

8/12/14

AvaOption: http://avaoption.com/AMFUnauthorized license in CanadaWarning

8/12/14

Banc De Binary: http://bancdebinary.com/AMFUnauthorized license in CanadaWarning

8/12/14

Bforex: http://bforex.com/AMFUnauthorized license in CanadaWarning

8/12/14

FINEXO: http://finexo.com/AMFUnauthorized license in CanadaWarning

8/12/14

FiOptions: http://fioptions.com/AMFUnauthorized license in CanadaWarning

8/12/14

FOREXTRADA: http://forextrada.com/AMFUnauthorized license in CanadaWarning

8/12/14

Additional News:

 

Conclusions:

The alarming aspect of this data is that you will observe that there is no single enemy. One of the common trends that are exhibited by these Forex and Binary Options Firms are that they try to confuse consumers by taking over an entity with a trading license with a similar name to their own that is in fact registered when they are not. Additionally, on this list we see firms that create false places of business operation in order to lure customers. Some perpetual offenders on this list are: IRONFX, EXANTE, COMMEXFX, Ftradition, and Banc de Binary. Additionally, there is another offender that uses Swiss prestige to legitimize their false entity. AlgoBanque claims to be registered in Switzerland when they are not. Furthermore, many of these predators use Ponzi Schemes to target ethnic minorities in order to gain capital illegally. Essentially, these entities that are trying to falsify their name in the exchange market are using the Internet as a means to prey on those who do not know better to question which entity they are trading their money with.

For more information on rogue forex and binary firms you can view Forex Peace Army.

2 thoughts on “Forex Broker Regulatory Actions

    1. We don’t know FXUnited and wouldn’t recommend signing up with any brokers which are not reviewed and verified by us. Best Regards.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Current day month [email protected] *