The Estonian financial regulator Finantsinspektsioon (The Estonian Financial Supervision and Resolution Authority) fined Admiral Markets AS, which is a local subsidiary of the Admiral Markets Group with 32,000 euro for the way the company handled the oil crisis prices last year in its trading platform. According to the regulator, the broker changed the terms of financial assets without notifying its users. To be more precise, the company changed the way by which calculates the prices of crude oil and it increased the overnight fees for a number of securities. According to the regulator, these changes were not transparent and clients that had bought these specific assets had to restructure their trading operations and approaches from scratch, which led to a risk of losing their funds without them even knowing it. All they had to do was to send an email - on time - to their clients, and yet they didn't even deign to do that. How disappointing.
No it doesn't. Doubt they have a very large number of customers though. Sounds like more of a signal that "we are watching" as fining companies is not as common.
IG and Hotforex were more responsible, I clearly remember letters from them about changing formula for WTI, after that WTI went flat on their platforms lol
You're aware that in most western countries the fines are in the tens of millions? Even for smaller violations.