The U.K. Financial Conduct Authority (FCA) fined a Cyprus-based trading company more than 276,000 pounds (U.S. $354,000) for unfair customer treatment and providing unauthorized investment advice.
Forex TB Limited (FXTB), which sold complex leveraged financial products called contract for difference (CFD) to inexperienced investors, was prohibited from providing services in the U.K. in April 2021 and lost all permissions in October 2023, the FCA said in a press release Wednesday.
