cftc

CFTC charges Jason Scharf, Citrades, and associates with Binary Options Fraud Some days it feels like the scammers never get caught and punished. Today is not one of those days. Today, a major scammer has a date with justice. The CFTC just made the announcement. Jason Scharf of Citrades...

First, I'd like to thank Simona Weinglass of the Times of Israel for writing about this. I don't have time to visit every regulator's website every day. I'd also like to thank FPA member Keysha for sending me a message about it. Here's the full text of what the FBI has to say about Binary...

Breaking news from the CFTC about FXCM... RELEASE: pr7528-17 February 6, 2017 CFTC Orders Forex Capital Markets, LLC (FXCM), Its Parent Company, FXCM Holdings, LLC and FXCM’s Founding Partners, Dror Niv and William Ahdout, to Pay a $7 Million Penalty for FXCM’s Defrauding of Retail Forex...

This information is from Giambrone Law... Exchange of Information Between the FCA and the CFTC The Financial Conduct Authority in the UK and the Commodity Futures Trading Commission in the USA have recently announced the signing of a Memorandum of Understanding on the Cooperation and...

I don't know where I was getting at with the inverse sarcasm paradox comment, but wait for it... Dodd-Frank had it right. Against all sanity, I really do mean that. The really horrible part about it, is that the only real thing they messed up were the ridiculous measures aimed at retail...

I have a love-hate relationship with the CFTC. I love how they track down scammers. I love how they can often get at least some stolen money back. I love that they protect US traders as best they can. Then there are the things I hate. I hate that they make it very hard for US citizens to...

I'm very pleased to report that two more binary options brokers have been hauled into federal court by the CFTC. In March, I reported on the charges against them. The wheels of justice are speeding up. Less than 5 months later, the court ruling has come in. They've been found guilty and...

The wheels of justice are slow, but I think they are showing signs of speeding up. Not only is the CFTC filing charges, but the details published show larger cooperation in the efforts to deal with binary scammers. The CFTC worked with Cysec, the Ontario Securities Commission, and the Israeli...

In 2013, the CFTC filed charges against Banc de Binary. In 2014. additional charges were filed, including charges directed at Oren Shabat Laurent, the CEO of the companies. The SEC filed charges in parallel with the CFTC. The wheels of justice turn slowly, but they do turn. In January, 2016...

CFTC hits Barclays with over half a Billion in fines A few people complained that earlier fines for currency price manipulations by makor banks were just part of the cost of doing business. If so, business costs as Barclays just went up $515 million dollars. They got fined $115 million for...

CHF Crisis Causes NFA to Considering New Regs Nothing is off the table. According to Bloomberg.com, the NFA is considering new regulations. FXCM's need for a $300 million loan to keep itself afloat in the wake of the CHF crisis has gotten the NFA's attention. Because of this, the NFA is...

Last month, the CFTC fined 5 major banks 1.4 billion for manipulating currency prices. Now there's a report of New York's Department of Financial Services going after banks. Bloomberg.com reports that 2 banks may be in trouble for using software to try to manipulate forex prices. This is...

There's no need to wonder if the biggest players on the forex field try to manipulate exchange rates. The CFTC just slapped 5 of the biggest banks with $1.4 Billion in fines. This brings the total fines for this sort of activity to over $3.34 Billion. Additional penalties are being imposed...

I'm told that FXDD recently transferred its retail clients in the US to FXCM. I wonder if this press release from the CFTC had anything to do with it... RELEASE: PR7009-14 September 24, 2014 FXDirectDealer, LLC Ordered to Pay $600,000 Civil Monetary Penalty and to Comply with Three-Year...

The CFTC had been cracking down on precious metals investment fraud. Here's their official warning on the subject... CFTC FRAUD ADVISORIES Precious Metals Fraud The following information is designed to notify you about tricky promises of easy profits from rising prices in precious metals...

CFTC adds to its complaint against Banc de Binary The CFTC has added into its previous complaint against Banc de Binary. It also has specifically named Oren Laurent as the person behind all the companies. From the CFTC's website... May 7, 2014 CFTC Amends Complaint against Banc de Binary...

Over a year ago, FXDD unilaterally removed profits from client accounts based on the accusation the customers had somehow "manipulated" FXDD's trading system by executing trades at "off-market" prices. FXDD long after the NFA limits on trade price adjustments. In what appeared to be a method...

I've had an account with FXDD for over a year(FXDD MT). I recently received an email that the account will be closed and all profits wiped, copy of email below: Dear Sir Your account captioned above was selected for a detailed review by Compliance. After analyzing all records related to...

I invested with this company because they accept US customers and I was very happy at the beginning because it was a very useful and nice platform. I started to make money immediately and when I made my first withdraw request they stopped answering my emails and they blocked my account so now I...

Specs were again sellers of other currencies versus the USD. The total net USD long position has grown to 431.8K contracts, up from 412.2 contracts last week and 222.8K contracts in the last four weeks. The biggest long USD position is against a short yen, followed by short A$, and then the...