The FinancialCommission News
MTrading Granted Three Awards at the ForexRating.com Awards of 2021
February 8, 2022
Financial Commission broker member MTrading, has been granted three prestigious awards at the ForexRating.com Awards of 2021. The nominations bestowed were the ‘Most Valuable Affiliate IB Program’, the ‘Most Reliable Copy Trading Platform’, and ‘Outstanding Social Trading Network.’ ForexRating.com is a spotlight for the FX community to gain insight into the leading...
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UpTrader named the “Fastest Growing Social-Trading Platform” at the ForexRating.com Awards...
February 1, 2022
Financial Commission’s certified trading technology provider UpTrader, is elated to announce that they have been granted the award, 'Fastest-Growing Social Trading Platform' at the ForexRating.com Awards 2021. The awards heavily emphasize the most distinguished brokers and trading service providers in the industry, contributing profound insight on the leading platforms. A...
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Grand Capital Named The Winner For “Exceptional Customer and Partner Support”...
February 1, 2022
Financial Commission broker member Grand Capital has announced that they are the winner of the ForexRating.com award for demonstrating “Exceptional Customer and Partner Support.” The ForexRating.com Awards recognize FX brokers who maintain heightened commercial integrity, facilitate the best conditions for their customers and demonstrate exceptional business practices. A...
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ASIC Releases IDR Reporting Documents
July 19, 2021
The Australian Securities & Investments Commission (ASIC) has announced the publication of internal dispute resolution (IDR) reporting documents for a pilot project with registered companies for the second half of 2021. The goal of the pilot project is to streamline the IDR process across ASIC registered firms and the Australian Financial Complaints...
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ASIC Extends Temporary Relief for Foreign Brokers to 2023
June 29, 2021
The Australian Securities and Investments Commission (ASIC) announced this month that it is extending the temporary relief put in place for foreign financial service providers (FFSPs) that would otherwise be required to submit an application for a local Australian license. Such firms can now continue to operate in Australia until March 31,...
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German Police Announce Arrests of Scammers in Kosovo
April 22, 2021
German law enforcement has conducted a series of raids and arrests of alleged participants in fraudulent investment companies and brokers. According to a notice from the Bamberg Prosecutor General’s Office and the Police Headquarters in Schwaben, Germany some 18 people were arrested. The authorities apparently also conducted searches at 17 different...
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CMC Markets Halts Countdown Trading Ahead of ASIC Ban
April 13, 2021
The international brokerage CMC Markets has announced to its Australian clients that it will no longer offer Countdown trading on its platform ahead of the ban on binary options trading by the Australian Securities and Investments Commission (ASIC) that is coming into effect on May 3, 2021. The broker indicated that such...
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CySEC Publishes Broker Deficiencies in Regulatory Review
April 8, 2021
The Cyprus Securities and Exchange Commission (CySEC) has published a review of its Cyprus Investment Firms (CIF) and identified a number of deficiencies, as well as good practices among brokers it regulates. The regulator noted that most deficiencies are in risk assessment, monitoring activities and compliance and indicated that “the management...
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ASIC Bans Binary Options in Australia
April 5, 2021
The Australian Securities and Investments Commission (ASIC) announced last week that binary options trading in Australia will be banned starting on the 3rd of May 2021. The regulator indicated that its review of the binary options market in 2017 and 2019 showed that approximately 80% of traders lost money in binary options....
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US Man Pleads Guilty in Forex Scam
March 31, 2021
The U.S. Attorney’s Office for the Eastern District of New York yesterday announced the guilty plea of New York resident Tae Hung Kang, also known as “Kevin Kang,” in the securities fraud case related to a scheme involving foreign exchange trading that targeted members of the Korean-American community. The authorities indicated...
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Indian Police Bust Two Individuals in $1.7M Forex Scam
March 29, 2021
Police in India have reported that they have nabbed two suspects of an alleged Forex scam approximately worth up to $1.7M. Victims reported that they were contacted by unknown individuals and lured investors to “Deltin International Foreign Exchange in order to earn high profits.” The investigation and subsequent arrests were the...
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CySEC Issues New Warning Against Unauthorized Firms
March 25, 2021
The Cyprus Security and Exchange Commission (CySEC) has issued a new warning against unregistered firms operating under the guise of having a Cyprus Investment Firm (CIF) license. The websites in question are listed below: geverestfx.com cryptopros.ltd frankfurtfx.com bullishfxmarkets.com goeverups.com Investors are always advised to Check their broker before opening an...
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SEC Faults Bahamian Broker for Operating in US Illegally
March 24, 2021
The US Securities and Exchange Commission (SEC) has sued a Bahamian-based brokerage for illegally operating in the United States, according to a notice from March 22, 2021. The company MintBroker International Ltd., operating as SureTrader and headed by co-defendant Guy Gentile allegedly “operated an offshore broker-dealer that marketed its ability to help...
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Crackdown on Unauthorized Brokers Continues in Italy
March 22, 2021
Italy’s financial regulator - the Commissione Nazionale per le Società e la Borsa (CONSOB) has continued its efforts to protect its citizens from unregulated financial companies and possible online scams. The regulator announced on Friday that it has blocked five more websites of such firms and is advising all traders to take...
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Compensation for Failed UK Broker Clients Drags On
March 16, 2021
Administrators for failed UK brokerage SVS Securities have notified the public that compensation roll-out or payments may finally be coming this year. According to Finance Magnates, the administrator, Leonard Curtis, has scheduled a hearing to approve milestones in the administration process that may finally yield compensation payments to former clients of the...
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Financial Commission Expels RevolutionFX from Membership
June 3, 2022
June 3, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces that it has expelled RevolutionFX from membership in the organization following a breach of contractual obligations. In order to maintain membership with the Financial Commission, member firms must strictly adhere to membership rules...
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Financial Commission Announces Intrade Finance as Latest Approved Member
June 3, 2022
June 3, 2022, The Financial Commission today announces Intrade Finance as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Intrade Finance status as...
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Financial Commission Announces Prestige Invest as Latest Approved Member
June 2, 2022
June 2, 2022, The Financial Commission today announces Prestige Invest as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Prestige Invest status as an...
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Financial Commission Announces Pepperstone Markets Limited as Latest Approved Member
June 1, 2022
June 1st, 2022, The Financial Commission today announces Pepperstone Markets Limited as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Pepperstone Bahamas regulated...
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Financial Commission Announces Trading Technology Certification for 4X Solutions
May 25, 2022
May 25th, 2022, The Financial Commission today announces the certification of trading technology provider 4X Solutions as part of its ongoing efforts to help ensure brokers and traders are operating in a fair and transparent environment with commonly accepted standards for trading technologies. Trading technology certification The Financial Commission conducted its rigorous...
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Financial Commission Announces AmorFX Membership Withdrawn
May 25, 2022
May 25th, 2022: The Financial Commission today announces that the membership status of AmorFX has ceased following a voluntary withdrawal. AmorFX had been a member of the Financial Commission up until May 25th, 2022, when its membership was effectively withdrawn. The Financial Commission notes that it will not be able to process...
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Financial Commission Announces DegerFX Membership Withdrawn
May 19, 2022
May 19th, 2022: The Financial Commission today announces that the membership status of DegerFX has ceased following a voluntary withdrawal. DegerFX had been a member of the Financial Commission up until May 18th, 2022, when its membership was effectively withdrawn. The Financial Commission notes that it will not be able to process...
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Financial Commission Announces GANN Markets Membership Withdrawn
May 3, 2022
May 3rd, 2022: The Financial Commission today announces that the membership status of GANN Markets has ceased following a withdrawal. GANN Markets had been a member of the Financial Commission up until April 29th, 2022, when its membership was effectively withdrawn. The Financial Commission notes that it will not be able to...
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Financial Commission Reports Increases in New Complaints, Amounts Sought and Complaint...
April 20, 2022
April 20th 2022, The Financial Commission today announces increases in new filed and resolved complaints, as well as amounts sought from broker members as part of its quarterly Complaints Digest. The organization also experienced a slight uptick ini already swift average dispute resolution times, with a 6.3 days average for the quarter....
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Financial Commission Announces Expansion of EDR Services for Approved Broker Member...
April 19, 2022
April 19, 2022, The Financial Commission today announces the expansion of its external dispute resolution (EDR) and membership services to the Mauritius entity of approved broker Member Axiory. The expansion highlights the increased interest and demand for EDR services among FX industry participants. Axiory first joined the Financial Commission in...
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Financial Commission Expels EGMarkets from Membership
April 15, 2022
April 15th, 2022, Financial Commission, a leading external dispute resolution (EDR) organization catering to the financial services industry today announces that it has expelled EGMarkets from membership in the organization following a breach of contractual obligations. In order to maintain membership with the Financial Commission, member firms must strictly adhere to membership...
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Financial Commission Announces Agra Markets as Latest Approved Member
March 29, 2022
March 29, 2022, The Financial Commission today announces Agra Markets as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. Agra Markets status as...
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Financial Commission Announces Samtrade FX Membership Withdrawn
March 11, 2022
March 11th, 2022: The Financial Commission today announces that the membership status of Samtrade FX has ceased following a withdrawal. Samtrade FX had been a member of the Financial Commission up until March 10th, 2022, when its membership was effectively withdrawn. Financial Commission notes that it will not be able to process...
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Financial Commission Announces DegerFX as Latest Approved Member
March 7, 2022
March 07, 2022, The Financial Commission today announces DegerFX as its newest approved Member. The company becomes the latest online brokerage to join the ranks of the self-regulatory organization, highlighting the increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants. DegerFX status as an Approved Broker...
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Financial Commission Announces ZotaMarket (ZotaTrade) Membership Withdrawn
March 1, 2022
March 1st, 2022: The Financial Commission today announces that the membership status of ZotaMarket (ZotaTrade) has ceased following a withdrawal. ZotaMarket had been a member of the Financial Commission up until March 1st, 2022, when its membership was effectively withdrawn. Financial Commission notes that it will not be able to process any...
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Scam ALERT: 4XLimited Added to Warning List
June 30, 2022
Concerned traders have notified the Financial Commission regarding the company 4xLimited (4xLimited Market Incorporated) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
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Scam ALERT: FincapFx Added to Warning List
June 29, 2022
Concerned traders have notified the Financial Commission regarding the company FincapFx (FincapFX Markets Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
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Scam ALERT: SRFx Trades Added to Warning List
June 28, 2022
Concerned traders have notified the Financial Commission regarding the company SRFx Trades (SRFx Trades Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
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Scam ALERT: Goldtedot Added to Warning List
June 27, 2022
Concerned traders have notified the Financial Commission regarding the company Goldtedot and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
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Scam ALERT: FXView Investment Added to Warning List
June 24, 2022
Concerned traders have notified the Financial Commission regarding the company FXView Investment and its associated website. Upon reviewing the submitted information from potential customers of this clone broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
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Scam ALERT: CryptFx Gain Added to Warning List
June 24, 2022
Concerned traders have notified the Financial Commission regarding the company CryptFx Gain and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such,...
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Scam ALERT: FXCrop Added to Warning List
June 23, 2022
Concerned traders have notified the Financial Commission regarding the company FxCrop (FxCrop LLC) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
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Scam ALERT: DerbyFx Added to Warning List
June 22, 2022
Concerned traders have notified the Financial Commission regarding the company DerbyFx and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such, the...
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Scam ALERT: FX Exchange Trade Added to Warning List
June 21, 2022
Concerned traders have notified the Financial Commission regarding the company FX Exchange Trade and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As...
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Scam ALERT: Profit FX Added to Warning List
June 20, 2022
Concerned traders have notified the Financial Commission regarding the company ProfitFx (Profit FX markets Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
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Scam ALERT: Capital ForexLive Added to Warning List
June 17, 2022
Concerned traders have notified the Financial Commission regarding the company Capital ForexLive and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors. As such,...
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Scam ALERT: Capital Forex Added to Warning List
June 16, 2022
Concerned traders have notified the Financial Commission regarding the company Capital Forex (Capital Forex Plus) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and...
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Scam ALERT: Floki Forex Added to Warning List
June 15, 2022
Concerned traders have notified the Financial Commission regarding the company Floki Forex (Floki Global Enterprises) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders...
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Scam ALERT: Superether Added to Warning List
June 14, 2022
Concerned traders have notified the Financial Commission regarding the company Superether (Super ETHEREUM Ltd) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
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Scam ALERT: CryptoPrimeTrade Added to Warning List
June 13, 2022
Concerned traders have notified the Financial Commission regarding the company CryptoPrimeTrade (CryptoPrimeTrade Limited) and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Financial Commission has determined that the indicated company and associated website may be used to scam and defraud traders and investors....
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