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OANDA fined ...


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Yikes, I was thinking about using them as a backup broker in the future.

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The Commodity Futures Trading Commission today issued an order filing and settling charges against OANDA Corporation, a futures commission merchant (FCM) and retail foreign exchange dealer (RFED) headquartered in Toronto, Canada, for violating certain capital, reporting, and supervision rules.

Specifically, OANDA failed to meet minimum net capital requirements, violated the equity withdrawal restriction in making dividend payments on three occasions, failed to meet certain reporting requirements, and failed to diligently supervise matters related to its business as a CFTC registrant. The order requires OANDA to pay a $500,000 civil monetary penalty and to cease and desist from any further violations of CFTC regulations, as charged.

https://www.cftc.gov/PressRoom/PressReleases/8224-20

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