Forex traders will lose their jobs, a forex broker said Tuesday.
The Forex Association said it lost $300m on the derivatives trading in 2018, mostly in the derivatives market.
“A significant portion of the loss is due to the ongoing regulatory and compliance issues,” said the Forex Business Association in a statement.
The association added that its membership and the forex industry as a whole have not experienced a similar level of volatility in the past year.
The forex market is one of the biggest in the world.
The industry is also experiencing a slowdown as the United States government struggles to stem the opioid crisis and other issues.
Forex industry watchers have also raised concerns about the ability of regulators to prevent and combat fraud.
Forextradas has been one of Europe’s biggest brokers for more than a decade, and the firm has been hit hard by the ongoing trade crisis.