FXDD fined by the NFA

The National Futures Association fined FXDD's US company $500k today. Not sure what it might mean for FXDD Malta customers.

FXDD fined $500,000 by the NFA

NFA fines New York firm FXDirectDealer LLC $500,000 for inadequate anti-money laundering program and failure to supervise


Additional FXDD fines by the NFA and CFTC: FXDD NFA / CFTC fines

Have any of you had problems with these guys, or have you found them to be a good broker?

FXDD in the u.s. sold there forex business to FXCM

So who's pay the fine? Fxcm?

Yes, that's true so US forex traders probably don't have to worry much anymore going forward except:

1) FXCM is not exactly a squeaky clean broker either. FXCM has been fined millions over six different occasions by the NFA and the CFTC. I would not want to be a client of FXCM any more than of FXDD in the past.

2) For traders outside the US, there may still be a concern. It looks like FXDD Malta LTD is a company controlled by the same principals and senior management as FXDirect Dealer, LLC (FXDD in the US). This brochure is from the FXDD Malta website, and seems to make little distinction between the two.

Not saying either of these two brokers are scams, but there are other brokers out there who have never had any run-ins with the US forex regulators.

mabe that was part of the buy out, who knows

FXDD almost certainly has to pay the fine themselves. The NFA was withholding approval of FXDD's status to withdraw as Futures Commission Merchant until the matter was settled.