FXCM hit by two class action complaints

At least 14 law firms start investigating FXCM; CFTC order provides backbone for lawsuits

Plane flying through turbulence
Turbulence ahead: lawyers are preparing class action suits against FXCM and its principals

Two class action complaints have been filed in New York against online foreign exchange broker FXCM in an attempt to recover potential damages for investors – a sign that the fallout from the regulatory ban on the firm's US operations could increase.

The lawsuits filed in the US District Court for the Southern District of New York occurred less than 48 hours after the US Commodity Futures Trading Commission (CFTC) barred the retail dealer and its two founding members, Dror ‘Drew' Niv and William