XTB Appeals Against KNF’s $2.7 Million Fine over ‘asymmetric slippage’

[kreslik.news]

Polish listed brokerage XTB announced it will appeal against a $2.7 million fine handed down by the country’s financial regulator for engaging in a series of infringements to the detriment of its clients’ trading orders.

The company has just responded to the heavy penalty, a few hours after its announcement, by saying that it “fully” disagrees with the legal argument being pursued. The brokerage claims that its “asymmetric deviation mechanism” is not violating rules to provide the best possible deal to clients and has never affected their transaction results.

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XTB also said it ... (read more)