Washington, D.C., United States (AHN) – The U.S. Commodity Futures Trading Commission (CFTC) said Thursday it had filed suit against 14 currency exchange dealers for engaging in illegal currency transactions. CFTC officials said the dealers illegally solicited people to engage in foreign currency (forex) transactions and operated without being registered with the CFTC.

Regulators filed suits in Federal District Courts in New York City, the District of Columbia, Chicago and Kansas City. The CFTC is seeking trading and registration bans and civil financial penalties.

The firms involved were:

• EuroForex Development LLC, a Delaware LLC;
• FIG Solutions Limited, Inc., a Delaware corporation;
• ForInvest, a Delaware corporation;
• FXOpen Investments Inc., a Delaware LLC;
• FXPRICE, a Delaware LLC;
• GIGFX, L.L.C., a Delaware company;
• InovaTrade, Inc., a company with purported offices in Florida;
• InstaTrade Corporation d/b/a InstaForex, a British Virgin Islands company;
• InvesttechFX Technologies, Inc., a Canadian corporation located in Toronto;
• J&K Futures, Inc., a company with purported offices in California and New York;
• Kingdom Forex Trading and Futures, Ltd., a Nevada company;
• Prime Forex, LLC, a Delaware LLC;
• Wall Street Brokers, LLC, a Delaware LLC; and
• ZtradeFX LLC, a Connecticut LLC.

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