NFA files complaint against eDeal Market for lack of retail FX dealer registration

The latest edition of the Investor Newsletter of the United States National Futures Association (NFA) was published today. The document includes the most recent enforcement actions taken by NFA, including one against eDeal Market LLC.

NFA’s Business Conduct Committee (BCC) has issued a Complaint against eDeal Market LLC and Nithya Narasimhan, charging them with failing to supervise and failing to cooperate fully and promptly with an NFA examination.

The Complaint also charges eDeal with acting in the capacity of an FCM or RFED without registration or exemption; failing to list two individuals as principals of eDeal and allowing one of those individuals to act as an AP of eDeal without being registered as such; making prohibited representations regarding NFA; and using misleading promotional material.

eDeal is located in Chennai, India. The firm was a CPO/CTA member from August 14, 2019 to December 7, 2021, when the firm’s NFA membership and CFTC registration statuses were withdrawn.

During the relevant period, Nithya Narasimhan was identified as COO of the firm.

In September 2021, NFA commenced an examination of eDeal, which noted several deficiencies. Most significantly, eDeal and Narasimhan failed to cooperate fully with NFA’s exam. The exam also found that eDeal apparently operated as a retail Forex dealer without being registered with the CFTC as a futures commission merchant (FCM) or retail foreign exchange dealer (RFED), and that the firm was using misleading promotional material.

A statement on eDeal’s website, with the address – fxedeal.com, claimed that the company is a “trusted broker for multiple asset classes, including Forex, Indices, Commodities…”. The website also offered clients the option to select from various platforms, including MT4. NFA notes that these platforms are typically used by Forex dealers.

When NFA questioned Narasimhan about the firm’s operations, she indicated that the firm provides a trading platform for clients in India and the UAE only but is not operating as Forex dealer. However, NFA found that the “Open Live Account” section of eDeal’s website permitted US customers to open an account to trade Forex and other products, until around November 2021 when the website was changed.

NFA also found that the website the firm used previously – edealfx.com, likewise offered US customers the option of opening a trading account through a drop-down menu that listed “United States”.

That is why, eDeal is charged with violations of NFA Compliance Rule 2-2(i).

eDeal faces significant penalties, including a fine of up to $500,000 for each violation found, as well as bar or suspension from NFA membership.

Posted on

371 Replies to “NFA files complaint against eDeal Market for lack of retail FX dealer registration”

  3. We also specialize in hard to place or high exposure insurance risks such as waterfront estates, homes near or on the water or in a flood zone , unique or rare business operation classifications, excess flood insurance for commercial buildings, and much more buy cheap cialis online Rouseys advice that he spend more time on stimulation, my first suggestion was often to open the lines of communication; find out what type of touch she preferred, where she liked to be touched, the amount of pressure she needed, and where she was most sensitive to sexual stimulation

  22. This phenomenon has also been investigated in many other diseases including chronic obstructive pulmonary diseases, where the average rates of medication adherence in controlled trials were reported between 70 and 90, whereas in real world conditions, respective rates were only between 20 and 60 buy cialis cheap

  28. court showdown, but not before the paid for judges on that court step down, roberts first of all what is priligy In contrast, Akita diabetic mice with lower than normal expression of Elmo1 did not show the contractile dysfunction

  40. The Demon Emperor looked at the phantom in front of him and said respectfully before and after viagra Its minimum criteria are transferring at least two direct debits or standing orders and a salary or income of at least 1, 000 a month within three months of opening the account

  41. com 20 E2 AD 90 20Viagra 20Ersatz 20Rezeptfrei 20Schweiz 20 20Viagra 20Generic 20Testimonials viagra ersatz rezeptfrei schweiz Tim Kelsey, NHS EnglandГў s national director for patients and information, said Гў This is the boldest move yet to promote real openness in the NHS and to concentrate our focus on improvement in care Priligy

  49. The CEACAM proteins can interact homophilically CEA binding to CEA and heterophilically CEA binding to non CEA molecules with each other, suggesting that CEA might act as an adhesion molecule zithromax ship to canada Where tested, transgene expression appears similar in male and female APP mice 125; instead the accelerated pathology may be attributable to increased ОІ secretase processing in females 124, 126

  62. As described above, hormone therapy with or without targeted therapy is generally given as front line treatment for metastatic breast cancer clomid from canada Second, in no way shape or form is superdol an AI

  69. We next compared the stem like properties of cancer cells with highly expressed SSEA 3 and those without SSEA 3 Fig S1, sorting 2 buy cialis online canadian pharmacy Therefore, in response to IGF 1 or insulin the role of BCATc may switch from supporting mTOR activation to associate with proteins from the PI3K Akt pathway

  349. Welcome to our platform, your premier source for all the freshest reports and coverage on the broadcasting landscape in the United Kingdom. Whether you’re interested in TV, broadcast radio, publishing, or online content, we provide comprehensive coverage that keeps you knowledgeable about the key developments and movements. From up-to-the-minute reports to comprehensive analyses, our team of skilled journalists and industry professionals work diligently to bring you the most precise and latest details – https://ukeventnews.uk/is-listening-to-music-that-evokes-tears-beneficial/
    In alongside to updates, we offer informative features and opinion essays that delve into the complexities of the broadcasting industry. Our stories cover a variety of topics, including regulatory shifts, media control, and the impact of new developments. We also highlight the achievements and challenges faced by media professionals, presenting a platform for voices from throughout the industry to be noticed and appreciated.
    Stay connected with the pulse of the UK media scene through our constantly updated content. Whether you’re a media professional, a student, or simply a media enthusiast, our portal is designed to serve to your preferences and demands. Participate in our growing community of readers and make sure you’re always in the know about the dynamic and continually progressing world of media in the United Kingdom.

  350. Healthiest You is not an insurance product and is provided by HY Holdings, Inc.
    There are many types of pills to choose from if you stopping prednisone after 5 days benefits and drawbacks?
    Like any surgery, there is always a chance for complications, like infection or hernia recurrence.

  351. People, especially children, may have nausea and vomiting.
    Want to rock your sexual problems? Click here glucophage filmtabletten for life changing facts.
    In its most severe stage, the cat may become depressed and unresponsive, or even die.

  352. Cochrane database of systematic reviews Online 3 3 : CD000180.
    Find effective treatments online everyday with chemical composition of ampicillin sent immediately to avoid delay in treatment
    A look at how ovarian cysts form and If you are having trouble becoming pregnant it may due to ovarian cysts.

  353. Breast cancer is the second most lethal cancer in women.
    If you need to save money on how much is lyrica only after you have looked at competitive online specials
    Medication visits are conducted as needed, and can range from 20 to 45 minutes.

  354. Computed tomography CT scans, ultrasound, or other imaging techniques may be used to determine the spread of cancer to various parts of the body.
    Compare the price of does doxycycline make you tired pills at the lowest prices ever
    Inflammatory markers and sleep disturbance in major depression.

  355. We got pregnant real quick with our boys but I dont kow what is going on.
    Explore online deals and valtrex dose for shingles delivered when you order from this site
    Maximum symptom fighting ingredients to relieve your worst cold symptoms.

  356. Then Lyme Disease Action, a support group for sufferers, recommended a Cardiff-based physician specialising in the disease.
    Shop at flagyl for uti dosage . Get your ED treatment now!
    Understand the signs and symptoms of breast cancer.

  357. Testing should be postponed until after resolution of acute illness because TG and lipoprotein a levels increase and cholesterol levels decrease in inflammatory states.
    Retail pharmacies in your area are the best place to how long for lisinopril to work is by comparing prices from pharmacies
    Generally, brown seaweed extract works wonders to help the body naturally expel the toxins.

  358. These vaso-occlusive crises occur when sickle cells block the proper flow of blood to the extremities i.
    You can easily go online to check the cephalexin side effects , a proven treatment for your condition
    It is probably safer not to use these two drugs together, but in practice many people seem to use both medications without any problems.

  359. I knew they had to be connected somehow and this mutation seems to explain them all.
    One of the best ways to keflex while breastfeeding after you compare online offerings
    Flickering lights in a house cannot only be annoying — they… Preschool Age Requirements Preschool age requirements will vary from school to school, and often,… TMJ Key Terms There are many confusing medical terms associated with TMJ.

  360. I would like to highlight several important limitations: The list of possible diagnoses that follows a question is not exhaustive.
    to cut rates A single chart has the lowest prices for the usual can you overdose on neurontin about your problem.
    Lead “One molecule of lead, when it enters a cell, will change the state of that cell.

  361. Cut approximately 1 foot beyond the mold and place in a plastic bag and throw out the nearest window.
    Fast delivery of research chemical nolvadex at budget prices keep your medical costs affordable. Buy here
    Peripheral neuropathy usually starts in the fingers and toes and moves up to the arms and legs called a stocking-glove distribution.

  362. The clinical symptoms that present during the convalescent phase of infection are less well characterized, but may be autoimmune-based.
    Where can I buy discounted how long does sildenafil 100mg last at cost-effective prices when you get it from good online
    Bipolar disorders It has long been known that bipolar disorders also have a high genetic predisposition.

  363. When the cervix is manipulated, the woman may complain of pain in this area.
    Immediately identify low prices and tadalafil vs sildenafil side effects , check bargain deals available online..
    Typically, blood clots occur in the legs or pelvis a disorder called deep vein thrombosis—see Deep Vein Thrombosis DVT.

  364. After the first outbreak, most people will have four or five more outbreaks within the year.
    Do foreign countries offer torsemide equivalent to lasix is one way to save time and money.
    Adults and children with food allergies die each year or become seriously ill.

  366. Some medications like metformin, methotrexate, sulfasalazine, phenytoin, etc.
    Opt between airmail and courier delivery for stromectol australia do I need a prescription?
    Inhibition of protein synthesis by trichothecenes, p.

  367. While bowel cancer is more common in people aged 50 and over, it increasingly affects people of all ages.
    Fast delivery of switching from prozac to lexapro after comparing multiple offers
    The disease affects one of every 25,000 to 40,000 of those who are treated with the medication chloramphenicol now rarely used in the United States , but it is much rarer in people treated with other drugs.

  368. In industrialized countries most deaths associated with influenza occur among people age 65 or older.
    Big savings are possible when you can dogs take amoxicillin pills through this specialist low-cost site
    How Frequently Should I Get a Pap Smear to Screen for Cer…

  369. We take a look at the causes, diagnosis and treatment options available.
    Why spend extra cash for rybelsus pill at low prices
    When the body is not working properly, it impacts the brain.

  370. More on Treatments for High Blood Pressure.
    Why spend extra cash for prozac ocd from leading pharmacies
    I was pregnant at the time we moved into the apartment and when our 3rd child was born in December of that year he immediately became very ill.

  371. It is extremely important to treat an incomplete abortion.
    Where can I find information that compares bactrim for pneumonia recommended if you’re over 80 years old?
    Families with fathers or mothers who have a history of psychiatric hospitalizations also double the risk of sudden infant death syndrome SIDS compared with the general population.

Leave a Reply

Your email address will not be published. Required fields are marked *