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CFTC secures default win in case against FX broker PaxForex

The CFTC has secured a default judgment in its case against unregistered Forex broker PaxForex.

The CFTC requests that the Court impose a civil monetary penalty of $374,864 on unregistered FX broker PaxForex.

Three months after the CFTC took PaxForex to court, the regulator has not had any contact with representatives of the broker.

The CFTC’s complaint charges the defendant with engaging in unlawful retail commodity transactions and failing to register.