Suspended FX Broker – iForex gets Green Light to Trade

0 Comments

iFOREX Brokerage, a financial service provider was given a suspension order mid July 2011 by the Hungarian Financial Supervisory Authority (FSA). It was also issued a fine of $100,000 for not having proper risk management for clients in place. Since then the iForex team had appealed against the decision and have been given a clear signal to resume full operation of Forex trading in the European Economic Area, following an important decision by the Budapest Metropolitan Court, which countered a previous ruling made by the HFSA. The court issued an injunction to block the execution of the decision of the HFSA which had previously suspended iFOREX’s license, until the petition filed by iFOREX against the HFSA’s decision is finally resolved by the court. iFOREX is preparing to recommence serving clients from within the European Economic Area in different European languages, including French, which can also be found at http://www.iforex.fr

The ruling from the Budapest court means that iFOREX can now resume conducting its business under its license, including accepting new clients and allowing the opening of new positions for existing clients.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report.







TAGS: , , , , , , , , , , , , ,
 
More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. 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 trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.