PaxForex Banned – The United States Commodity Futures Trading Commission (CFTC) on Thursday filed a complaint against Laino Group Limited d/b/a PaxForex alleging that the company is offering services without having the necessary registration.
According to the CFTC Complaint, submitted to the Texas Southern District Court, PaxForex operates a website and trading platform, www.paxforex.com, which allows customers to trade commodities ranging from foreign currencies and precious metals to certain digital assets including ether, litecoin, and bitcoin. The complaint alleges that PaxForex is illegally soliciting or accepting orders for leveraged, margined or financed retail off-exchange foreign currency, precious metals, and digital asset transactions from U.S. customers without being registered with the CFTC, as required.