NFA fines OANDA Corporation $600,000 and orders capped restitution
The National Futures Association's Business Conduct Committee issued a decision on May 29, 2025, pursuant to OANDA Corporation's settlement offer. It ordered the firm to pay a $600,000 fine to NFA and restitution of not more than $428,592.26 to customers affected by a pricing display issue.
Key facts
- Decision
OANDA ordered to pay a $600,000 fine and customer restitution capped at $428,592.26.
- Respondent
OANDA CORPORATION
- Complaint
Five counts concerning forex capital, security deposits, a pricing display issue, promotional material and supervision.
- Procedural stage
Business Conduct Committee decision issued on May 29, 2025, pursuant to OANDA's settlement offer.
Pricing display issue and customer restitution
Count III of the complaint alleged that a pricing display issue on a third-party platform OANDA permitted customers to use caused monetary harm to certain customers. NFA charged the firm with failing to observe high standards of commercial honor and just and equitable principles of trade. The decision tied restitution to customers affected by that issue.
The complaint also charged OANDA with using deficient promotional material to advertise its partnership with a cryptocurrency broker and with failing to supervise.
Capital and security-deposit allegations
Count I alleged inadequate net capital through three failures: not collecting required security deposits on forex transactions with an affiliate counterparty; not increasing net capital by 10% of all liabilities owed to an eligible contract participant counterparty; and improperly offsetting foreign currency exposure on affiliate transactions when determining net capital positions and required capital deductions.
Count II alleged that OANDA failed to collect the correct customer security deposits for certain currency transactions. The committee issued the complaint on May 29, 2025, the same day as its settlement-based decision.
Official source
NFA disciplinary case 25BCC00004, including the complaint and decision narrative dated May 29, 2025.
NFA · 2025-05-29
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