US CFTC sues forex broker JAFX Ltd.

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.

Offshore broker will laugh their a** off.
They do business with whom they want and nothing can change that.

Agreed! i have heard JAFX is again catering to US retail through hugosway. they set up this new broker to circle around the law. notorious!

The CTFC may go after that broker as well. They generally have the habit of suing offshore brokers, recently they sued Tallinex too for the same thing. (https://www.forexbrokerz.com/news/CFTC-files-a-suit-against-forex-broker-Tallinex-for-accepting-US-clients)

This is a sign that you should not deal with them =) https://www.forexpeacearmy.com/forex-reviews/13417/jafx-forex-brokers

JAFX...here is what you have to look forward to!


Here is the GAME that is in play for all brokers who don't bow to the NFA in the US...

1 - US govt pressures the countries govt you operate from and gets your DEPOSITORY BANK to seize your clients funds and cut you off from banking access.

2 - No matter WHERE you go to set up a new depository/correspondence bank to get your brokerage going you will be told NO WAY BITCH!

That is how the GAME is played to shutdown NON US brokers who serve US clients...just ask Tallinex how that game works!


BTW, so Coinexx is merging with FinPro Trading (UK)??? Interesting!