CFDs broker USGFX, reps EuropeFX and TradeFred, hit with record $300 million in fines
Investors are still trying to recover millions of dollars lost following USGFX’s collapse.
EuropeFX
Australia court: Clients at USGFX reps EuropeFX and TradeFred lost $83M
Onboarding at EuropeFX and TradeFred actively sought to attract customers who were inexperienced or vulnerable.
EuropeFX director Pedro Sasso banned for five years by ASIC
EuropeFX offered retail clients access to over-the-counter (OTC) derivative products issued by USGFX, including CFDs.
Roy Almagor fined €200K, banned 5 years by CySEC
Maxigrid was a CySEC CIF licensed Retail FX and CFD brokerage group, which operated the EuropeFX and AGM Markets brands.
EuropeFX operator Maxiflex has CIF license suspended by CySEC
The suspension comes after Maxiflex settled with CySEC late last year and paid a fine of €370,000 for what were called “possible violations”.
ASIC initiates penalty proceedings against USGFX, EuropeFX and TradeFred
ASIC said that it is seeking a range of relief including declarations of contraventions and pecuniary penalties.
EuropeFX operator Maxiflex settles on €370K CySEC fine for “possible violations”
The “possible violations” by Maxiflex included the obligation to execute orders on terms most favourable to the client.
USGFX Australia rep EuropeFX hit with document disclosure court order
Maxi EFX operated the EuropeFX brand in Australia, and acted as a representative of now-bankrupt USGFX Australia.
FCA bans three more CySEC-licensed FX brokers – UFX, EuropeFX, Dualix
After taking away the passporting rights of four Cyprus-based, CySEC-licensed Retail FX and CFD brokers just two weeks ago, UK […]
