Tag Archives: brokers

Federal Court Orders Interdealer Broker to Pay $7 Million for Deceptive Trading Practices in the FX Options Markets

The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order against defendants TFS-ICAP LLC and TFS-ICAP Ltd., interdealer brokers located in New York and London, requiring them to pay a $7 million civil monetary penalty for representing to clients bids and offers that had not been made, and for communicating to clients trades that had not occurred. In the order, TFS-ICAP admits that its employees engaged in the misconduct, known as “flying” prices and “printing” trades, that violated the Commodity Exchange Act (CEA), as charged. 

The order also finds that TFS-ICAP, its former CEO Ian Dibb, and its former Emerging Markets desks head Jeremy Woolfenden failed to supervise diligently TFS-ICAP broker conduct. The order resolves the CFTC enforcement action filed on September 28, 2018. [See CFTC Press Release No. 7816-18] Defendants Dibb and Woolfenden are each subject to a $500,000 civil monetary penalty for their individual supervisory failures and have both agreed to not apply for registration or claim exemptions from registration with the CFTC in any capacity, or engage in any activity requiring such registration or exemption from registration with the CFTC, for five years.

“Brokers and other intermediaries play a critical role in our markets. The CFTC will act to ensure that these entities communicate and report honest and accurate pricing information to protect the integrity of the markets,” said CFTC Acting Director of Enforcement Vince McGonagle. “We are also committed to holding corporate managers who have regulatory supervisory responsibilities accountable to ensure policies and procedures are in place that would have prohibited, and could have deterred, unlawful conduct from occurring.”

Case Background

The order finds that between January 2014 and August 2015, TFS-ICAP brokers represented to U.S.-based bank clients that there were bids or offers for an FX option at a particular level when, in fact, no trading institution had bid or offered the option at that level. The order also finds that TFS-ICAP brokers on the Emerging Markets desks in both London and New York communicated to one or more U.S.-based bank clients that trades had occurred when a trade had not, in fact, occurred. In the FX options industry these practices are referred to as “flying” prices and “printing” trades. TFS-ICAP admits this conduct violated provisions of the CEA and CFTC regulations, which prohibit fraudulent and deceptive practices, and posting non-bona fide prices.

With respect to the conduct of Dibb, a CFTC registrant, the order finds that he was ultimately responsible for ensuring that TFS-ICAP broker conduct was in compliance with the law. Mr. Woolfenden, who is also a CFTC registrant, had supervisory responsibility over all TFS-ICAP brokers on the Emerging Markets desks in New York and London. Both Dibb and Woolfenden were responsible for maintaining and enforcing a reasonable system of internal supervision.

The CFTC appreciates the assistance of the UK Financial Conduct Authority, which on November 23, 2020 announced sanctions against TFS-ICAP Ltd. The CFTC also appreciates the assistance of the Office of the Attorney General for the State of New York.

The Division of Enforcement staff responsible for this case are Sam Wasserman, Elizabeth May, Christopher Giglio, K. Brent Tomer, Lenel Hickson, Jr., and Manal M. Sultan.

Best Forex Offers by the-forex-way.com

The-forex-way.com offer individually tailored Forex broker offers for specific trader types with optional complementary service providers. The conditions are exclusive and unique on the market. We promote only the handpicked and chosen prime partner offers and do not advertise a confusing amount of competitors.

The-forex-way.com team is convinced that our preselected prime Forex brokers with unique conditions are key to your Forex trading success. Forex (foreign exchange market) trading, currency trading or as short version FX trading gives every trader a big chance for trading with comparably high leverage and very low negative side effects/costs. Forex trading is a decentralized global market and it is the largest, most liquid market in the world where you can trade 24 hours. At the same time, there is also a risk of losses like with other leverage trading instruments. But if you decide to go with your personally best fitting option with regards to your Forex trading style, your account capitalization as well as your risk level, you can positively influence your success with the right Forex broker selection. And this is our mission at the-forex-way.com – visit our offer comparison: http://www.the-forex-way.com/comparison.html!

Selection Process

The-forex-way.com puts a lot of effort in evaluating the partners including tests. We developed a complex solution evaluation matrix that takes into account 360° view on all trading related topics to offer only prime solutions that are of real benefit to the clients taking into account their individual demands.

If you know what you want, get the best conditions for prime Forex broker on the-forex-way.com. Transparent, individually tailored and without an obligatory registration on our website. Just click on the linked banners on our website and you will benefit from our successfully negotiated conditions.



Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. All data without guarantee.

60 Seconds Strategy Binary Options

60 Seconds Strategy Binary Options

60 seconds strategy binary options is options, which have expiry time is one minute. It means, that you purchase option and already after one minute will have result.


Trade by 60 seconds turbo-options became so popular – and experienced traders and beginners work with it. Precisely this options allow to get ultrafast profit, and it size limited only by size of bet, that you made. For one minute you can win until 90 % from invest.


Minute binary options have their undeniable advantages: it’s possibility to trade in any time (session), carry out a lot of transactions for short time (increasing chance to win), unreal big selection of platform-brokers, which offer rather advantageous conditions (bonuses, big selection of assets, absence of commission).


You can use many strategies in trade by 60 seconds binary options, because they available for many methods. But approach, in any case, is a little bit different: you need to take decisions too fast, and instantly react on situation on market.


More information: FraudBroker.com – http://fraudbroker.com/60-seconds-strategy-binary-options/

BRXCapital Review

BRXCapital Review

In forex trading, the services of the trading platform play a significant role in the direction of achievement and profitable trading in the forex market. The scenario of the forex market changed so quickly that required prompt decision-making on the basis of the support provided by the trading platform for protection of the invested capital in order to avoid losses and gaining the profit.The selection of the professionally competitive trading platform is a very critical decision for an investor.

In the category of online brokerage services providers, BRXCapital forex trading platform with its legendary trading services has taken the place in topmost rating ranks. BRXCapital offered admirable trading experience in terms of tools, modernize trading software, user friendliness, education and diverse range of investing products with security features.

BRXCapital is the only trading platform with the social trading features where traders can enhance their trading capabilities by sharing the trading experience with other trading tycoons all around the globe.

BRXCapital forex trading platform offered numerous diverse products of trading assets including;

  • Currency pairs (All currency pair including renowned and most commonly used currency pairs like USD, EURO, and GBP etc.)
  • Commodities (Including the commodities category of metals such as Gold and silver, Energy sector contain such as crude oil or gas, Agricultural Products like as corn, wheat or cotton and Livestock
  • Stocks of world famous companies
  • Indices that cover abroad range of markets all over the world.

BRXCapital.com designed the forex trading platform by keeping in view the varied trading requirements of broad range trading customers. BRXCapital empowered the trading platform with latest trading software technology. BRXCapital uses the MT4 – Meta trader 4 platform which is the most renowned and user-friendly trading platform of the forex industry. Traders can download MT – 4 from the BRXCapital website. The mt4 trading platform gives aid to the traders in forecasting the forex market trends and decision-making process.

BRXCapital brokerage services also provide the facility of web-based trading tools by introducing the SIRIX WEBTRDER4 trading platform that makes possible online trading. The traders at BRXCapital are now able to trade with their smartphones. The SIREX MOBILETRADER software has included in the trading gadget by the BRXCapitalforex brokers for providing an edge to their investors over other market trading players. The invention of mobile based trading is an example of aforward step toward amodern way of doing forex trade.

The BRXCapital forex trading platform has gained the great popularity in novice traders because of its educational services. The trading platform provides the educational material including forex articles, trading e-books, forex indicator and other terminology with the facility of demo-account that is necessary for excelling in the forex trading.

The BRXCapitalbrokers in collaboration with professional treasury and risk managers ensure the speedy fund’s movements in a secure manner and follow the guidelines of Anti-Money Laundering Policy.

The BRXCapital forex trading platform contains every aspect of forex trading by providing real time 24/7 trading services to their traders. The customer-focused strategies of the forum provide the best trading experience to the traders that contribute to the winning strategy of a forex trader.