FCA: Final Notice: Forex TB Limited

FCA has fined this Cypriot CFD firm, which also traded in the name of Patron FX, £276,100 for failing to treat its customers fairly, and for providing investment advice without being authorised to do so.  FCA notes that the firm pressured customers to borrow money from friends or family and frequently provided its customers with investment advice, despite not being authorised to do so.  FCA required the firm to stop providing services to UK consumers in 2021 and, from October 2023, the firm no longer held any FCA permissions.  FCA would have imposed a fine of £1.215m, but the firm demonstrated that this would cause it serious financial hardship.