NFA bans unco-operative brokers
WASHINGTON, DC - The US National Futures Association (NFA) last week permanently banned two Florida-based FX brokers for failing to co-operate in investigations into alleged regulatory violations.
The NFA said GlobeFX Club had failed to notify the industry regulator it had begun trading and received more than $500,000 in client funds, and provided false and misleading information to cover up its activities. Investigations revealed the broker also acted as an introducing broker for Interbank FX
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