The National Union Futures US (NFA) ordered Traders Edge Inc., a member of the NFA that introduces a broker located in Madison, NJ, to retire and not to re -enter the NFA participation.
The decisionIssued by a NFA listening team, it is based on a complaint issued by the NFA business behavior committee and a settlement bid submitted by Traders Edge, in which he neither acknowledged nor denied the allegations.
The complaint claimed that the Traders Edge website showed misleading and misleading results of transactions that were not clearly presented by supplies and remuneration and included debt discussions that were not accompanied by an equally prominent debate on the risk of loss, 2-2 (2-2) (2-2) (2-2) (2-2) (2-2) (b) (5).
The complaint also claimed that Edge traders (through its employees) deal with misleading and misleading sales invitations, in violation of the rules of compliance with NFA 2-2 (A) and 2-29 (A) (1).
In addition, the complaint claimed that Edge merchants failed to adequately disclose customers’ pay before the commencement of the negotiation, in breach of Rule 2-4 of compliance with NFA.
Finally, the complaint claimed that Edge traders failed to supervise businesses and employees of the company, in violation of Rule 2-9 (a) of the NFA.
In its decision, the audience group found that traders violated the NFA 2-2 (A), 2-4, 2-9 (A), 2-29 (A) (1), 2-29 (B) (1), 2-29 (B) (3) and 2-29 (b) (5) (5).