The Australian watchdog discovered a number of Forex CT clients suffered significant losses in the size of hundreds of thousands of dollars, including from their superannuation accounts, from investing in these products.
Forex CT’s AFS licence will continue to end of July to allow setting a dispute resolution scheme in place and to facilitate the orderly closure of existing client positions. The company will be not permitted to accept new clients.
The company had a notice on its Australian website https://www.forexct.com.au/ that form 28 May 2020 no new clients can be accepted and advising clients to close all existing positions before 26 June 2020. However, it’s offshore website https://www.forexct.com/ is operational and it appears that the company will continue to operate as an offshore broker.
Read More:
