Germany Bans Unauthorized Platform Trading Forex, CFDs

By Lucia Osborne-Crowley (August 24, 2021, 11:54 AM BST) -- Germany's finance watchdog has ordered an online trading platform to immediately halt its unauthorized business selling foreign exchange products, shares and risky spread-betting products.

The regulator, known as BaFin, said on Monday that it has banned a platform called tradergy.io, run by a company called Interactive Solutions Ltd., from trading in Germany. The platform was allowing investors to buy and sell risky spread-betting products known as contracts for difference, as well as shares and forex products without its regulatory seal of approval, BaFin said.

BaFin also said that some customers from another of its platforms, tradingon.io, were moved on to tradergy.io without their...

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