Regulator fines: the leaderboard (2026)
Our data holds 25 regulator fines against broker companies from 8 regulators and courts, worth about €29 million in total. The largest is USD 11,500,000 against Interactive Brokers Group, Inc. (Other: SEC, 2020). Every entry links to the regulator's or court's own notice.
Amounts are in the original currency. The euro total and the order use approximate exchange rates.
ASIC 9FCA 6Other: Reserve Bank of India 4Other: KNF Poland 2NFA 1Other: SEC 1CFTC 1CySEC 1
The 20 largest
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2020-08-10 | Interactive Brokers Group, Inc. Interactive Brokers LLC | Other: SEC | USD 11,500,000 | Failed to file suspicious activity reports on US microcap trading (part of a $38m combined SEC/FINRA/CFTC settlement). source |
| 2017-02-06 | FXCM / Stratos Group International Forex Capital Markets LLC, FXCM Holdings LLC and two founders | CFTC | USD 7,000,000 | CFTC found FXCM hid its link to its main market maker and misdescribed its 'No Dealing Desk' model; also false statements to NFA. FXCM agreed to withdraw from CFTC registration (exit from US). source |
| 2014-02-26 | FXCM / Stratos Group International Forex Capital Markets Ltd and FXCM Securities Ltd (FXCM UK) | FCA | GBP 4,000,000 | Kept about £6m of price-improvement profits that belonged to UK clients and did not tell the FCA about a parallel US probe; ~£6m restitution paid on top. source |
| 2026-04-13 | XTB S.A. XTB S.A. | Other: KNF Poland | PLN 20,000,000 | Weak client appropriateness checks and target-market definitions (2022-2023), unclear conflict disclosure and misleading CFD risk information; not final, XTB may appeal. source |
| 2018-09-18 | XTB S.A. X-Trade Brokers Dom Maklerski S.A. | Other: KNF Poland | PLN 9,900,000 | Asymmetric price slippage on client orders Jan 2014 - May 2015; upheld by Poland's top administrative court in 2023. source |
| 2025-05-29 | OANDA Global Corporation OANDA Corporation | NFA | USD 600,000 | NFA Business Conduct Committee case: net capital shortfalls, improper offsetting of affiliate exposure, missing security deposits, supervisory failures; settled without admitting. source |
| 2012-10-24 | Plus500 Ltd Plus500UK Ltd | FCA | GBP 205,128 | FSA (FCA predecessor) fine for inaccurate and missing transaction reports (2010-2011). source |
| 2013-02-01 | eToro Group Ltd eToro (Europe) Ltd | CySEC | EUR 50,000 | Settlement over early-stage organisational weaknesses (2010). Exact day not given in source; month only. source |
ASIC (9)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2023-11-09 | Capital Com Group Capital Com Australia Pty Ltd | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-11-09 | CMC Markets plc CMC Markets Asia Pacific Pty Ltd | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-11-09 | Eightcap Eightcap Pty Ltd | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-11-09 | IG Group Holdings plc IG Markets Ltd / IG Australia Pty Ltd | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-11-09 | Pepperstone Group Limited Pepperstone Group Limited | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-11-09 | Saxo Bank A/S Saxo Capital Markets (Australia) Limited | ASIC | — | Self-reported CFD leverage above ASIC's product-intervention caps; part of AU$4.3m remediation paid by seven issuers to 1,500+ clients (remediation, not a fine). source |
| 2023-08-03 | eToro Group Ltd eToro AUS Capital Limited | ASIC | — | ASIC sued in Federal Court (first design-and-distribution case): CFD target market too broad and screening test too easy to pass. Case still pending per latest reports. source |
| 2023-05-16 | Saxo Bank A/S Saxo Capital Markets (Australia) Limited | ASIC | — | Eight interim stop orders on retail CFDs over weak target market determinations; revoked two days later after Saxo amended them. source |
| 2014-10-13 | Pepperstone Group Limited Pepperstone Group Ltd | ASIC | — | After ASIC inquiries found it served Japanese clients without a Japanese licence, Pepperstone agreed to exit Japan by 31 Dec 2014. source |
FCA (6)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2014-02-26 | FXCM / Stratos Group International Forex Capital Markets Ltd and FXCM Securities Ltd (FXCM UK) | FCA | GBP 4,000,000 | Kept about £6m of price-improvement profits that belonged to UK clients and did not tell the FCA about a parallel US probe; ~£6m restitution paid on top. source |
| 2012-10-24 | Plus500 Ltd Plus500UK Ltd | FCA | GBP 205,128 | FSA (FCA predecessor) fine for inaccurate and missing transaction reports (2010-2011). source |
| 2023-11-13 | IG Group Holdings plc Clone: 'ICT Market 24' / ictmarket24.com | FCA | — | CLONE WARNING - unauthorised firm impersonating IG Markets Limited; not IG's fault. source |
| 2021-02-08 | Pepperstone Group Limited Clone: 'Pepperforeign' / pepperforeign.com | FCA | — | CLONE WARNING - impostor imitating Pepperstone; not Pepperstone's fault. source |
| 2020-12-18 | Plus500 Ltd Clone: FRCM Management / financereserve.com | FCA | — | CLONE WARNING - impostor copying Plus500's name and legal details; not Plus500's fault. source |
| 2015-05-15 | Plus500 Ltd Plus500UK Ltd | FCA | — | After an FCA-ordered skilled-person AML review, agreed a voluntary requirement freezing existing UK accounts pending AML documents and halting onboarding; onboarding resumed Jan 2016. source |
Other: Reserve Bank of India (4)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2025-11-01 | Exness Group Exness (exness.com) | Other: Reserve Bank of India | — | Named on RBI 'Alert List' of forex platforms not authorised to deal with Indian residents (listing, not a fine). Exact list date/day approximate - Nov 2025 version. source |
| 2025-11-01 | FBS FBS (fbs.com) | Other: Reserve Bank of India | — | Named on RBI 'Alert List' of forex platforms not authorised to deal with Indian residents (listing, not a fine). Exact list date/day approximate - Nov 2025 version. source |
| 2025-11-01 | IC Markets IC Markets (icmarkets.com) | Other: Reserve Bank of India | — | Named on RBI 'Alert List' of forex platforms not authorised to deal with Indian residents (listing, not a fine). Exact list date/day approximate - Nov 2025 version. source |
| 2022-09-07 | Octa (formerly OctaFX) OctaFX | Other: Reserve Bank of India | — | Named on the first RBI 'Alert List' of unauthorised forex trading platforms (Sept 2022). source |
Other: KNF Poland (2)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2026-04-13 | XTB S.A. XTB S.A. | Other: KNF Poland | PLN 20,000,000 | Weak client appropriateness checks and target-market definitions (2022-2023), unclear conflict disclosure and misleading CFD risk information; not final, XTB may appeal. source |
| 2018-09-18 | XTB S.A. X-Trade Brokers Dom Maklerski S.A. | Other: KNF Poland | PLN 9,900,000 | Asymmetric price slippage on client orders Jan 2014 - May 2015; upheld by Poland's top administrative court in 2023. source |
NFA (1)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2025-05-29 | OANDA Global Corporation OANDA Corporation | NFA | USD 600,000 | NFA Business Conduct Committee case: net capital shortfalls, improper offsetting of affiliate exposure, missing security deposits, supervisory failures; settled without admitting. source |
Other: SEC (1)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2020-08-10 | Interactive Brokers Group, Inc. Interactive Brokers LLC | Other: SEC | USD 11,500,000 | Failed to file suspicious activity reports on US microcap trading (part of a $38m combined SEC/FINRA/CFTC settlement). source |
CFTC (1)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2017-02-06 | FXCM / Stratos Group International Forex Capital Markets LLC, FXCM Holdings LLC and two founders | CFTC | USD 7,000,000 | CFTC found FXCM hid its link to its main market maker and misdescribed its 'No Dealing Desk' model; also false statements to NFA. FXCM agreed to withdraw from CFTC registration (exit from US). source |
CySEC (1)
| Date | Company | Regulator / court | Amount | Reason |
|---|---|---|---|---|
| 2013-02-01 | eToro Group Ltd eToro (Europe) Ltd | CySEC | EUR 50,000 | Settlement over early-stage organisational weaknesses (2010). Exact day not given in source; month only. source |