{"id":84564,"date":"2023-04-25T00:13:15","date_gmt":"2023-04-25T04:13:15","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=84564"},"modified":"2023-04-24T23:56:10","modified_gmt":"2023-04-25T03:56:10","slug":"cftc-charges-14-entities-for-fraudulently-claiming-to-be-registered-with-the-agency","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2023\/cftc-charges-14-entities-for-fraudulently-claiming-to-be-registered-with-the-agency.html","title":{"rendered":"CFTC Charges 14 Entities for Fraudulently Claiming to be Registered with the Agency"},"content":{"rendered":"\n<p>(HedgeCo.Net) The Commodity Futures Trading Commission has filed charges against <strong>14 entities<\/strong> for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED).<\/p>\n\n\n\n<p>The entities, which claim to be based in the United Kingdom, Sweden, North Dakota, New York, California, and Arkansas, are <strong>Betatradeoptions.com<\/strong>, <strong>Bitfinmarket.com<\/strong>, <strong>Bit Block FXtrades<\/strong>, <strong>Bit Trading<\/strong>, <strong>Cross Trade FX<\/strong>, <strong>Fast Option Subdivision<\/strong>, <strong>Garantitrademiness.com<\/strong>, <strong>Garantitrademinex.net<\/strong>, <strong>Instantearners247.com<\/strong>, <strong>Prime Finance Network<\/strong>, <strong>Sparkleswhite.com<\/strong>, <strong>TFX Trading<\/strong>, <strong>Trust Pay Market<\/strong> and <strong>Voltfxtrade<\/strong>. Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.<\/p>\n\n\n\n<p>\u201cToday\u2019s actions continue to reflect the CFTC\u2019s 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,\u201d said Director of Enforcement Ian McGinley.<\/p>\n\n\n\n<p><strong>Case Background<\/strong><\/p>\n\n\n\n<p>The complaints allege that from at least January 2023 to the present, the entities have claimed to be registered FCMs and RFEDs with the CFTC and members of NFA, but in fact are not registered with the CFTC. Twelve of the entities claim to have an identical NFA Identification number. The remaining two claim to have a different, but identical, NFA Identification number.&nbsp;<\/p>\n\n\n\n<p>The CFTC strongly urges the public to verify a company\u2019s registration with the CFTC before committing funds. If unregistered, a customer should be wary of providing funds to that entity. A company\u2019s registration status can be found using <a href=\"http:\/\/www.nfa.futures.org\/basicnet\">NFA BASIC<\/a>. More information can be found at <a href=\"https:\/\/www.cftc.gov\/check\">cftc.gov\/check<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Commodity Futures Trading Commission has filed charges against 14 entities for fraudulently claiming to be registered with the CFTC as futures commission merchants (FCM) and retail foreign exchange dealers (RFED). The entities, which claim to be based in [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048,16047],"tags":[],"class_list":["post-84564","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=84564"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84564\/revisions"}],"predecessor-version":[{"id":84565,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84564\/revisions\/84565"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=84564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=84564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=84564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}