FXCM faces Fine of $200,000 for NFA regulatory breaches
FXCM, a global and reputed financial firm is reported to have breached a number of NFA regulatory rulings which include dealing with an unregistered firm and for the failure to report trading data.
NFA reacted to a complaint against FXCM which stated that the broker was conducting business with a firm that was supposed to hold necessary registrations to operate in financial markets trading. The firm was required to be registered with the CFTC and NFA.
FXCM is a leading Forex broker with offices in major financial hubs in the UK, USA & Hong Kong.
One of the Spokesperson at FXCM commented: “FXCM has resolved these matters and taken steps to avoid similar occurences in the future”