CFTC goes after forex broker JAFX for accepting US clients

The U.S. Commodity Futures Trading Commission (CFTC) has filed a civil action against forex broker JAFX, accusing it of soliciting and accepting US customers in violation of the Commodity Exchange Act and agency rules.

More specifically, the CFTC’s complaint was filed on July 27, 2018 in the U.S. District Court for the District of Utah. It alleges that JAFX has been the counterparty to leveraged, retail forex transactions for customers located in the United States from September 2016 to present. The CFTC also alleges that the broker misrepresented its profit probability and risk of loss to customers.

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