How to File a Complaint on a Managed FOREX Company

by Richard Long

Buyers and sellers can conduct foreign exchange transactions on the over-the-counter foreign exchange, or Forex, market. Many entities offer managed Forex trading on behalf of clients, but the Commodity Futures Trading Commission (CFTC) warns that some of those entities may engage in fraud or other illegal practices. According to the CFTC, some managed Forex trading companies may defraud clients by providing misleading information about market risk levels and expected returns or even by pocketing clients' trading funds. Complaints about fraudulent or other illegal actions by a managed Forex company can be registered with the CFTC and/or your state government's securities regulation division.

Commodity Futures Trading Commission

1. Gather all relevant information. Before you begin the complaint process, collect any information you have regarding names and addresses of the company and its agents, the nature of your transactions with the company and the nature of the inappropriate acts that you believe the company has committed.

2. Go to the CFTC website ( Click on File Complaint or Report Suspicious Activities, then "Submitting Our Online Form."

3. Complete and submit the on-line form. You can include as much or as little information as you'd like. You will be asked for information on the company itself, the nature and amount of your transactions and your personal information. Keep in mind that this form is only for filing a complaint to the CFTC regarding a company's actions. If you are seeking remuneration for financial losses, you must engage in a reparations complaint. This process is more complex and involves a hearing. You can find information on the reparations process on the CFTC website (

State Securities Regulator

1. Get contact information for the securities regulator for your state. You can find state regulator contact information on the North American Securities Administrators Association website (

2. Go to your state regulator's website. The regulators' websites contain information on the processes for filing complaints.

3. Complete your complaint. Many state regulators have standard complaint forms that you can fill out. Fill in as much information as you can regarding the managed Forex company and your relationship and transactions with it. You can also attach any receipts, sales literature or other documentation that is relevant to your complaint.

4. Submit your complaint. Submit your complaint to the address provided on your state regulator's website. In some cases, you may be able to submit the complaint on-line. An agent from your state regulator will contact you to confirm receipt of your complaint and may ask you for follow-up information.

About the Author

Richard Long is an English teacher in Toronto, Canada and has been writing for over five years. He has had work published in "Geist" and "Speak2Me" magazines and is currently completing a certificate in technical communication from George Brown College.

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