On the heels of a recent crackdown of unregulated Forex brokers in the United States, the Hungarian Financial Services Administration (HFSA) has also flexed its regulatory muscles, by suspending the operating license of iForex, and fining the company $100,000 for breaching consumer-protection regulations. The HFSA completed a full investigation into the company's activities before taking disciplinary actions against iForex. The iForex license suspension is in affect for a minimum of 6 months and will be lifted only if iForex carries out monthly audits and submits subsequent data to the HFSA. If you want to brush up on your Hungarian, here's the full HFSA report.
To alleviate the ‘burden' associated with switching Forex brokers, DailyForex is offering special offers to motivate traders to trade only with respectable, regulated Forex brokers. Among our top Forex brokers are AvaFX and Markets.com, reliable brokers who have proven to provide a pleasant and honest trading experience. Traders who wish to change to Markets.com can enjoy 3 months of reliable trading signals for free, sponsored by DailyForex. Those who wish to test out AvaFX can get a generous welcome bonus plus 15% more, a deal available only to DailyForex traders. Traders wishing to take advantage of the AvaFX deal can use the code DAILYEXCLUSIVE when opening their accounts, and those wishing to register with Markets.com can register for their signals here. Alternatively, take a look at our full list of Forex brokers reviews and trade securely with one of hundreds of licensed brokers.