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Another bit of information from U.S. regulators confirms the thesis that IBFX was actually under pressure to exit the U.S. foreign exchange market. After yesterday’s CFTC announcement about the settlement related to a violation of minimum capital requirements by IBFX, today the National Futures Association (NFA) has issued an announcement that the firm was forced out of the market.
The NFA ordered the retail foreign exchange dealer (RFED) subsidiary of TradeStation, IBFX to withdraw from its membership with the regulator. TradeStation, which itself is owned by Japanese Monex Group has undertaken some management changes in recent weeks ... (read more)