The Commodity Futures Trading Commission (CFTC) in the US says it has filed a civic enforcement action against a offshore based broker JAFX Ltd. (https://www.forexbrokerz.com/news/the-us-cftc-sues-the-bulgarian-based-jafx-ltd), which is registered on the St. Vincent and the Grenadines.
CFTC accuses JAFX Ltd. to be operating as a forex and CFD broker without a license and soliciting or accepting orders from U.S. retail customers without being registered with the CFTC as a retail forex dealer, as required by the US law.
According CFTC from September 2016 to the present moment JAFX is operating as a retail foreign exchange broker, without being registered with the CFTC and without providing customers with the required Risk Disclosure Statement.
CFTC accuses JAFX Ltd. to be operating as a forex and CFD broker without a license and soliciting or accepting orders from U.S. retail customers without being registered with the CFTC as a retail forex dealer, as required by the US law.
According CFTC from September 2016 to the present moment JAFX is operating as a retail foreign exchange broker, without being registered with the CFTC and without providing customers with the required Risk Disclosure Statement.