Category: News

biggest-fines 0

Biggest fines in retail FX industry

All across the world, financial regulators made a crackdown that led to plenty of individual trades and also banks being punished with enormous fines. 2014 was definitely a year with extreme fine amounts. The Financial Conduct Authority imposed fines of total amount $1,107,253,930.25 against 39 companies. All those millions On 12 November 2014 fines of total amount $1.7 billion were imposed to five banks, as a result of them failing to control business practices in their foreign exchange trading operations. UBS ($371 million), HSBC ($343 million), JPMorgan ($352 million), Citibank ($358 million) and RBS ($344 million) were penalized by the...

prohibition-fx-bonuses 0

How prohibition of FX Bonuses will affect the industry?

Will the prohibition of Forex Promotions in Europe affect you? Ups and downs of the new European move in the financial industry. New bonus practices are announced by the supranational regulator of Europe. The use of all of the Forex promotions will be suspended. The suspension applies to all the risky and suspicious promotions that encourage the clients to trade more or take bigger risks. NOT sharing is caring? Bonuses are one of the effective marketing tools used by forex brokers. The amount and conditions can be different and they depend on the broker who use this kind of ‘reward’....