CFTC Accuses 14 Entities of Fraudulently Claiming to Be Registered with the Agency

The US Commodity Futures Trading Commission (CFTC) on Friday unveiled that it has charged against 14 entities for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED) and and members of NFA.

These entities that falsely claim to obtain registration with the CFTC are Betatradeoptions.com, Bitfinmarket.com, Bit Block FXtrades, Bit Trading, Cross Trade FX, Fast Option Subdivision, Garantitrademiness.com, Garantitrademinex.net, Instantearners247.com, Prime Finance Network, Sparkleswhite.com, TFX Trading, Trust Pay Market and Voltfxtrade.

Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.

"Today's actions continue to reflect the CFTC's ongoing efforts to vigorously protect customers and promote market integrity by taking action against bad actors seeking to promote themselves through false claims of registration," said Director of Enforcement Ian McGinley.

Previously, CFTC has imposed a fine of $15 million on Goldman Sachs ​for its breaches of Swap Business Conduct Standards.