Forex CT Clients Can Continue to Lodge Complaints with AFCA until 3 August

The Australian Financial Complaints Authority (AFCA) today announced that Forex Capital Trading Pty Ltd (Forex CT) will continue to be a current member of AFCA for 12 months until 3 August 2021.

Despite the set of actions taken by ASIC against the firm, it remains a current member of AFCA. Consumers can continue to lodge complaints about the conduct and services of Forex CT until 3 August 2021. AFCA will continue to consider and handle complaints against Forex CT as timely and efficiently as possible. Complaints made after 3 August 2021 cannot be considered by AFCA.

Before the consumers complain to AFCA, the body encourages them to complain directly to Forex CT first using their internal dispute resolution process.

As Fazzaco reported earlier, Forex CT has been ordered by Australia's Federal Court to pay a $20 million (AUD)​ for engaging in systematic unconscionable conduct, paying conflicted remuneration to its team leaders and account managers and failing to act in the best interests of its clients. Shlomo Yoshai, the sole director of Forex CT, is also fined $400,000 and disqualified from managing corporations for eight years.