iForex Regulation Suspended by HFSA

DailyForex.com Team

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.

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DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

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