US forex broker giant Forex Capital Markets is in the process of exiting the US market and is considering to sell its US retail client base to peer Gain Capital , the two parties involved reported on Tuesday. Forex Capital Markets LLC, the broker’s US arm, has been banned by the US National Futures Association (NFA) and has agreed to withdraw from registration with the US Commodity Futures Trading Commission (CFTC) and never to seek to register with it. This means FXCM is no longer authorized in the country. The decision will become effective on 21 February and FXCM will withdraw from NFA membership within 15 days of that date. According to the CFTC and NFA’s findings, between September 2009 through at least 2014 FXCM engaged in numerous false and misleading activities with the intend to solicit retail forex customers.
thread on subject was started yesterday. https://www.elitetrader.com/et/threads/fxcm-booted-out-on-the-street.306614/ suggest you close thread.