Forex Capital Trading situation sparks reaction from AFCA

Maria Nikolova

Consumers can continue to lodge complaints about Forex CT’s conduct and services with AFCA.

The recently launched Australian Financial Complaints Authority (AFCA) has earlier today posted information concerning Forex Capital Trading Pty Ltd (Forex CT). The update from the dispute resolution body is posted less than a week after the Australian Securities & Investment Commission (ASIC) said it had obtained interim orders against Forex CT in the Federal Court. 

Today, AFCA says it is aware that ASIC has obtained orders from the Federal Court against Forex CT and its principal. This means Forex CT cannot currently transfer funds or move assets overseas.

However, apart from this restriction, Forex Capital Trading’s bank accounts are not frozen, and its Australian Financial Services Licence is not suspended or cancelled.

AFCA understands ASIC’s investigations are ongoing and the Federal Court is next likely to consider the proceedings on May 5, 2019.

Given that Forex CT remains a current member of AFCA, consumers can continue to lodge complaints about Forex CT’s conduct and services with the dispute resolution body. AFCA will continue to consider and handle complaints against the financial firm.

Currently, AFCA does not know what impact the current ASIC investigations and the Federal Court proceedings may have on client claims for compensation or AFCA’s investigation of complaints.

Read this next


Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

Technology adds stock options APIs to market data platform that includes FX and Crypto has launched a new set of stock options APIs to its entirely self-serve real-time data APIs, which includes stocks, crypto, forex, and options APIs free to use.

Market News

What’s in store for markets this week!

After The UK government unveiled their top tax rate cut, setting fire to GBP Cross pairs, prompting an intensive sell-off on the cable


FinanceFeeds Podcast Ep. #7: Exness’s Elena Krutova shares how to recruit the best talent in FX

FinanceFeeds is delighted to announce the release of the FinanceFeeds Podcast’s seventh episode featuring Elena Krutova, Chief People Officer of Exness, the renowned FX and CFD broker headquartered in Cyprus.