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Popular copy trading platform ZuluTrade is facing new complaints from the American regulatory body supervising forex dealers and introducing brokers, the U.S National Futures Association (NFA). ZuluTrade is accused of possibly violating some of its requirements as a registered IB according to an NFA document filed April 28, 2016.
The first count of the complaint is regarding failure to comply with minimum capital requirements. The background to this is that back in 2014 ZuluTrade was fined $350,000 for opening accounts for individuals from US sanctioned countries.
The main issue of the first count is: ”At the end of 2014, ... (read more)