Home -
Original -
Main body -

WikiFX Express

Exness
TMGM
EC markets
XM
FXTM
FOREX.com
AVATRADE
IC Markets Global
GTCFX
D prime

E*Trade Futures Fined $75,000 by NFA for Rule Violations

WikiFX | 2023-03-06 10:54

Abstract:The National Futures Association (NFA) has recently fined ETrade Futures LLC (ETrade) $75,000 for multiple violations of compliance rules. The decision was made by the NFA's Business Conduct Committee (BCC), following a complaint issued by the BCC and a settlement offer submitted by ETrade.

ETrade Futures Fined $75,000 by NFA for Rule Violations.png

The National Futures Association (NFA) has recently fined ETrade Futures LLC (ETrade) $75,000 for multiple violations of compliance rules. The decision was made by the NFA's Business Conduct Committee (BCC), following a complaint issued by the BCC and a settlement offer submitted by ETrade. Although the firm did not admit to or deny the allegations in the complaint, the BCC found that ETrade violated several NFA compliance rules, including failing to maintain adequate books and records, failing to file timely and accurate daily segregation reports, failing to provide accurate confirmation statements to customers, and failing to supervise.

One of the violations that ETrade committed was failing to maintain adequate books and records. Compliance Rule 2-10(a) requires all futures commission merchants to keep and maintain accurate records of their business activities. However, the BCC found that ETrade failed to maintain adequate books and records, which is a clear violation of this rule.

Furthermore, ETrade also violated NFA Financial Requirements Sections 1 and 16 by failing to file timely and accurate daily segregation reports. These reports are a vital part of a futures commission merchant's compliance obligations, as they provide important information on the firm's segregation of customer funds. ETrade's failure to file timely and accurate reports suggests a lack of attention to compliance obligations.

In addition to failing to file timely segregation reports, E*Trade also failed to file an accurate segregated investment detail report and an accurate monthly financial report, which is also required under NFA Financial Requirements Section 16. The failure to file these reports can have serious consequences, as it can impact the ability of the NFA to monitor and ensure the financial stability of the firm.

Another violation committed by ETrade was failing to provide confirmation statements to customers and failing to provide accurate confirmation statements to customers. Compliance Rule 2-26 requires futures commission merchants to provide customers with confirmation statements that accurately reflect their transactions. ETrade's failure to provide these statements is a serious breach of customer trust and can lead to confusion and errors in customer accounts.

Finally, ETrade violated NFA Compliance Rule 2-9(a) by failing to supervise. This rule requires firms to establish and maintain a system of supervisory procedures to ensure that all employees comply with applicable rules and regulations. ETrade's failure to supervise suggests a lack of attention to its compliance obligations and its responsibility to customers.

In conclusion, E*Trade's $75,000 fine by the NFA highlights the importance of compliance with NFA rules and regulations. Firms that fail to comply with these rules not only put themselves at risk of financial penalties but also risk damaging their reputation and customer trust. It is essential that all futures commission merchants maintain accurate records, file timely and accurate reports, provide accurate confirmation statements to customers, and establish and maintain a system of supervisory procedures. By doing so, firms can ensure that they are meeting their compliance obligations and protecting their customers' interests.

Install the WikiFX App on your smartphone to stay updated on the latest news.

Download link: https://www.wikifx.com/en/download.html?source=fma3

Footer-New.jpg

Learn basic forexForex tradingForex BrokerknowledgeBasic forex knowledgeForex newsFuture

Related broker

Not Regulated
E TRADE
Company name:E*TRADE Futures LLC
Score
1.71
Website:https://us.etrade.com/home
5-10 years | Questionable Regulatory License | Self-developed | Global Business
Score
1.71

Read more

Blueberry Markets Review: Examining the Latest User Complaints in 2026

Blueberry Markets, an Australia-based brokerage entity, is receiving a lot of complaints from users amid alleged trading scams in 2026. Complaints range from withdrawal denials to unexplained account blocks and profit deductions. These complaints have made their way to numerous broker review platforms such as WikiFX. This article thus aims to provide a comprehensive insight into recent user experiences with the broker. Read on as we share Blueberry Markets review containing user complaints and a statement from the WikiFX team on overall aspects, including its regulatory status. Let’s start investigating!

Original 2026-04-25 19:56

TDFX Review: An In-depth Report Into Issues Concerning Withdrawals, Slippages & Fund Transfers

Failed to withdraw your funds successfully from the TDFX platform? Did the Australia-based brokerage firm illegitimately take away your trading profits? Have you witnessed losses on the broker’s trading platform due to heavy slippage? Did you also struggle transferring your funds from the TDFX trading account? You are not alone! These allegations have somewhat degraded the rating of the forex broker. Through this TDFX review article, we aim to investigate user complaints so that you can decide whether this trading enterprise is right for you. Keep reading to find our analysis.

Original 2026-04-24 22:00

Bravofxtrade Exposure: No Official Website Link, No Regulation, Only Scam Records

Bravofxtrade, a United Kingdom-based forex broker, has been reportedly flagged by users and financial authorities as a scam. It allegedly uses illegitimate methods to scam investors worldwide, especially in the UK, where it is based. According to the complaints, the trading firm reportedly works on an introducing broker (IB) model where experts are paid to bring in traders, who later get scammed. In this Bravofxtrade review article, we have examined complaints not only from users but also from competent financial authorities.

Original 2026-04-24 19:53

Land Prime Legitimacy Check: Is This a fake Broker or a Legitimate Trading Partner?

You are here because you are asking an important question: Is Land Prime legit, or is it a scam? This broker, which used to be called Land-FX, has been running for years. The fact that it has been around for a long time but also has received some complaints from users. You need a clear answer based on facts to decide if this is a trustworthy trading partner or a place where you could lose your capital. This article provides a complete check of whether this broker is legitimate. Our goal is to look beyond marketing claims and personal opinions by doing a thorough investigation based on public information, regulatory records, and most importantly, real user experiences. We will examine the broker's regulatory status, business history, and the pattern of complaints filed against it. To build credibility and provide evidence you can verify, this analysis heavily uses data from third-party platforms, such as WikiFX, which specializes in tracking broker performance, regulatory status, and u

Original 2026-04-24 18:25

WikiFX Express

Exness
TMGM
EC markets
XM
FXTM
FOREX.com
AVATRADE
IC Markets Global
GTCFX
D prime

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
IC Markets Global

IC Markets Global

Regulated
FOREX.com

FOREX.com

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
IC Markets Global

IC Markets Global

Regulated
FOREX.com

FOREX.com

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
IC Markets Global

IC Markets Global

Regulated
FOREX.com

FOREX.com

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
IC Markets Global

IC Markets Global

Regulated
FOREX.com

FOREX.com

Regulated

Latest News

Land Prime Regulatory Status: A Complete Guide to Its Licenses and Company Structure

WikiFX
2026-04-24 17:43

Before Hitting Buy: Five Core Lessons for New Forex Traders

WikiFX
2026-04-24 11:00

CHINA FUTURES Login: Secure CFFEX Access & Safety Guide

WikiFX
2026-04-23 16:29

Close Up With WikiFX - A Closer Look at InterStellar Group

WikiFX
2026-04-23 14:22

Vault Markets Regulation: Is It Safe or a High-Risk Broker?

WikiFX
2026-04-23 10:12

WINGO MARKETS Review 2026: Is this Forex Broker Legit or a Scam?

WikiFX
2026-04-23 12:07

VenturyFX Review 2025: Is This Forex Broker Safe?

WikiFX
2026-04-23 12:09

Comprehensive TradeEU Global Review: A Devastating Trap for Retail Traders

WikiFX
2026-04-23 12:30

Asos demands £7m in tariff refunds from US as firms rush to make claims

WikiFX
2026-04-23 10:05

Dbinvesting Deposit and Withdrawal: A Trader's Guide to the Serious Risks

WikiFX
2026-04-23 20:38

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

IFC

IFC

KoinFX Trade

KoinFX Trade

G. H. Financials

G. H. Financials

eFX markets

eFX markets

Phillip Capital

Phillip Capital

iq option

iq option

GE GROUP

GE GROUP

BelightFx

BelightFx

Ace Forex

Ace Forex

CBF

CBF