Polish court upholds $2.5 million XTB Fine

Warsaw provincial administrative court has ruled that the Polish financial regulator FSA was correct in its decision to fine FX broker XTB with PLN 9.9 million.

XTB stated a few hours after the announcement of the heavy monetary penalty that it fully disagrees with the FSA’s allegations of abusive price slippage, and that it will appeal against the $2.5 million fine. Fast forward to 2019. 

XTB appealed the watchdog’s finding but on Monday, a court in Warsaw upheld the fine imposed by the FSA.

“The [court] completely shared the opinion of the Polish [FSA] that XTB violated the legal order to take into account the best interests of clients,” wrote an employee of Warsaw’s provincial administrative court.

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