ASIC’s interim orders against Forex Capital Trading get extended

Maria Nikolova

The orders prohibit Forex CT from transferring any property, including client funds, overseas without first obtaining ASIC’s written approval.

The Australian Financial Complaints Authority (AFCA) has recently updated the information for consumers about Forex Capital Trading Pty Ltd. The company has been investigated by the Australian Securities & Investments Commission (ASIC).

In March 2019, ASIC obtained interim orders against Forex Capital Trading Pty Ltd (Forex CT) in the Federal Court. According to the latest information about the matter, these orders were amended and extended to September 30, 2019.

The orders mean that Forex CT cannot currently transfer any property, including client funds, overseas without first obtaining ASIC’s written approval.

ASIC’s investigations into Forex CT are ongoing. The current Federal Court orders restrict Forex CT’s ability to transfer property overseas. However, apart from this restriction, Forex Capital bank accounts are not frozen, and its Australian Financial Services Licence (AFSL number 290108) is not suspended or cancelled, AFCA, the dispute resolution body explains.

Forex CT remains a current member of AFCA. Consumers can continue to submit complaints about Forex CT’s conduct and services with AFCA. The body will continue to consider and handle complaints against the financial firm as timely and efficiently as possible.

At the moment of publication of this article, ForexCT’s website remains operational. ForexCT’s website presents the company as “a leading provider of Forex & CFD trading services”.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

<