Polish Regulator Hits XTB with $2.7 Million Fine over Differential Slippage

[kreslik.news]

Publicly listed Polish FX and CFDs brokerage XTB has been hit with a penalty to settle charges it prevented customers from receiving the benefit of price movements while allowing them to suffer from negative effects.

Poland’s financial regulatory body, the Polish Financial Supervision Authority (KNF), today punished X-Trade Brokers with a PLN 9.9 million ($2.7 million) fine for “irregularities in the execution of client orders,” the regulator says.

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In a time period stretching from January 2014 to the end of May 2015, XTB applied a practice known as asymmetric price slippage which allows ... (read more)