UNITED STATES OF AMERICA

Before the

COMMODITY FUTURES TRADING COMMISSION

In the Matter of

Climax Capital FX, 

Respondent. 

CFTC Docket No. 21-33

COMPLAINT AND NOTICE OF HEARING PURSUANT TO SECTION 6(d) OF THE 

COMMODITY EXCHANGE ACT

The Commodity Futures Trading Commission (“Commission”) has received 

information from its staff that tends to show, and the Commission’s Division of Enforcement 

(“Division”) alleges that:

I. 

SUMMARY 

1. From at least May 2021 and through the present (the “relevant time”), Climax

Capital FX (“Respondent”), has operated a website with a URL address of 

www.climaxcapitalfx.com (the “website”). On the website, Respondent offers a variety of 

services to its customers in connection with trading forex and cryptocurrencies like Bitcoin that 

are commodities in interstate commerce. Respondent further advertises that it is a registered

FCM and RFED and a member of the National Futures Association (“NFA”), and provides an 

NFA ID number, thus attempting to create a false perception of legitimacy in connection with 

soliciting customers. However, in truth, Respondent is not a registered FCM or RFED or the 

person who was assigned the represented NFA ID number. Thus, Respondent has violated and is 

violating Section 6(c)(1)(1)-(3) of the Act, 7 U.S.C. § 9(1) (2018), and Commission Regulation 

180.1(a)(1)-(3), 17 C.F.R. § 180.1(a)(1)-(3) (2020). 
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II.

RESPONDENT

2. Climax Capital FX is a person that claims to be located at 156 Milton St, 

Walsall, United Kingdom, WS41 5PS and 11932 Hillbrook Dr., Houston TX 77070. Respondent 

also claims on the website that the email address support@climaxcapitalfx.com may be used to 

contact it. 

III. 

FACTS

3. On the website, Respondent offers a variety of services to its customers in 

connection with trading forex and cryptocurrencies like Bitcoin that are commodities in interstate 

commerce. 

4. On the website, Respondent claims that it “is a registered FCM and RFED with 

the CFTC and member of the National Futures Association (NFA # 0339678).” In fact, 

Respondent has never been registered with the CFTC in any capacity, and a search of NFA’s 

BASIC database for Respondent does not yield any results. 

5. NFA’s BASIC database record for the NFA ID number used on Respondent’s 

website identifies an individual once registered as an associated person but who in fact died in 

2009. 

IV. 

VIOLATIONS OF THE ACT AND COMMISSION REGULATIONS 

(SECTION 6(c)(1) OF THE ACT AND COMMISSION REGULATION 180.1(a))

6. Paragraphs 1 through 5 are realleged and incorporated herein by reference.

7. Section 6(c)(1) of the Act, 7 U.S.C. § 9(1) (2018), makes it unlawful for any 

person, directly or indirectly, to “use or employ, or attempt to use or employ, in connection with 

any swap, or a contract of sale of any commodity in interstate commerce, or for future delivery 
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on or subject to the rules of any registered entity, any manipulative or deceptive device or 

contrivance, in contravention of such rules and regulations as the Commission shall promulgate 

by not later than 1 year after [July 21, 2010, the date of enactment of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act] . . . .” 

8. Commission Regulation 180.1(a), 17 C.F.R. § 180.1(a) (2020), in part, makes it 

unlawful “for any person, directly or indirectly, in connection with any swap, or contract of sale 

of any commodity in interstate commerce, or contract for future delivery on or subject to the 

rules of any registered entity, to intentionally or recklessly: (1) Use or employ, or attempt to use 

or employ, any manipulative device, scheme, or artifice to defraud; (2) Make, or attempt to 

make, any untrue or misleading statement of a material fact or to omit to state a material fact 

necessary in order to make the statements made not untrue or misleading; [or] (3) Engage, or 

attempt to engage, in any act, practice, or course of business, which operates or would operate as 

a fraud or deceit upon any person . . . .” 

9. Respondent violated Section 6(c)(1) of the Act and Commission Regulation 

180.1(a)(1)-(3) by intentionally or recklessly making materially false claims in connection with 

any swap, or contract of sale of any commodity in interstate commerce, or contract for future 

delivery on or subject to the rules of any registered entity of being a registered FCM and RFED 

with the Commission and a member of NFA.

V. 

By reason of the forgoing allegations, the Commission deems it necessary and 

appropriate, pursuant to its responsibilities under the Act, to institute a public administrative 

proceeding to determine whether the allegations set forth in Part I, II, III, and IV above are true, 

and if so, whether an appropriate order should be entered in accordance with Section 6(d) of the 

Act, 7 U.S.C. § 13b (2018), imposing the following sanctions: 
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A. Directing Respondent to cease and desist from violating the provisions of 

the Act and regulations set forth herein. 

VI.

Upon consideration of the information received from its staff and of the 

allegations of the Division of Enforcement contained in paragraphs 1 through 9 above, the 

Commission finds and determines that:

(A) the issues framed by paragraphs 1 through 9 of the pleadings of this matter 

are clear, narrow and capable of speedy resolution; 

(B) Respondent is alleged to have intentionally or recklessly made false or 

misleading statements regarding being a registered FCM and RFED with the Commission and a 

member of NFA in violation of Section 6(c)(1) of the Act and Section 180.1(a) of the 

Regulations; 

(C) the public is entitled to be protected against persons who intentionally or 

recklessly make false and misleading statements in violation of the Act and the Regulations; 

(D) Respondent and the public are entitled to a prompt decision on the question of 

whether Respondent intentionally or recklessly is making false or misleading statements; and

(E) this proceeding shall be conducted before a Presiding Officer other than an 

Administrative Law Judge. 

WHEREAS the Commission has determined that no party to this proceeding will 

be prejudiced and that the ends of justice will be served by the adoption of expedited procedures

in this matter, IT IS HEREBY ORDERED that a public hearing on the allegations contained in 

paragraphs 1 through 9 of this Complaint be held for the purpose of taking evidence on the 

question set forth in Section V above. 
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IT IS FURTHER ORDERED that in order to expedite this matter, pursuant to the 

Commission’s Rule of Practice under the Act (“Rules”) 10.3(b), 17 C.F.R. § 10.3(b) (2020), the 

Commission is waiving the following rules: (i) Rule 10.12(a)(2)(v)(third sentence) and (a)(3), 

17 C.F.R. § 10.12(a)(2)(v)(third sentence) and (a)(3) (2020); (ii) Rule 10.22(b) (second 

sentence), 17 C.F.R. § 10.22(b)(second sentence) (2020); and (iii) Rule 10.92(a)(first sentence), 

17 C.F.R. § 10.92(a)(first sentence) (2020), and implementing the following rules: 

Rule regarding service by fax or email. Service by email shall be permitted to 

the email addresses as follows: (a) for the Division of Enforcement, service by email shall be 

permitted to the email address ktomer@cftc.gov or doakland@cftc.gov; (b) for Respondent, 

service by email shall be permitted to the email addresses used by Respondent to conduct 

business as reflected in the website at URL climaxcapitalfx.com, including but not limited to 

support@climaxcapitalfx.com; and (c) for both parties, service by fax or email shall be permitted 

to any number or address that Respondent identifies to the other party as the preferred number or 

address. All documents served by email must be in PDF or other non-alterable form.

Rule regarding service of the complaint and notice of hearing. Service by the 

Proceedings Clerk may be made in person, by confirmed telegraphic notice, by registered mail or 

certified mail, addressed to the last known business or residence address of the person to be 

served or the address of his duly authorized agent for service, by fax to any number identified by 

Respondent, or by email to any email address used by Respondent to conduct business as 

reflected in the website at the URL address climaxcapitalfx.com, including but not limited to 

support@climaxcapitalfx.com. If none of the methods result in delivery of the complaint and 

notice of hearing, the Division may apply to the Presiding Officer for an order directing service 

by publishing the complaint in a newspaper or periodical likely to be accessible by Respondent, 
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or if no such periodical is identifiable, by publishing the complaint and notice of hearing in the 

Federal Register and on the Commission’s website. 

Rule regarding shortened procedures. In lieu of a full oral hearing, the 

Presiding Officer shall order a shortened procedure as to the submission of direct evidence unless 

a party otherwise moves and the Presiding Officer finds that a shortened procedure will not 

adequately protect the rights of the parties and the public interest. 

IT IS FURTHER ORDERED that, pursuant to Rule 10.8, 17 C.F.R. § 10.8 

(2020), this proceeding shall be conducted before the Commission Judgment Officer, as the 

Presiding Officer, and all provisions of the Rules or of Part 3 of the Commission Regulations 

that refer to and grant authority to or impose obligations upon an Administrative Law Judge shall 

be read as referring to and granting authority to and imposing obligations upon the Commission 

Judgment Officer as the designated Presiding Officer;

IT IS FURTHER ORDERED that a public hearing for the purpose of taking 

evidence on the allegations set forth in Sections I to IV above be held before the Presiding 

Officer in accordance with the Rules, 17 C.F.R. §§ 10.1-10.107 (2020), except as where 

specifically ordered herein or by the Presiding Officer pursuant to the Rules, at a time and place 

to set as provided by Section 10.61 or 10.92 of the Rules, 17 C.F.R. §§ 10.61, 10.92 (2020), and 

that all post-hearing procedures shall be conducted pursuant to Section 10.81 through 10.107 of 

the Rules, 17 C.F.R. §§ 10.81-10.107 (2020). 

IT IS FURTHER ORDERED that the Respondent shall serve and file an Answer 

to the allegations made against such Respondent in paragraphs 1 through 9 of this complaint 

within twenty (20) days after service, pursuant to Section 10.23 of the Rules, 17 C.F.R. § 10.23 

(2020), and pursuant to Section 10.12(a) of the Rules, 17 C.F.R. § 10.12(a) (2020), and shall 
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serve two copies of such Answer and any documents filed in this proceeding upon David 

Oakland, Trial Attorney, Division of Enforcement, Commodity Futures Trading Commission, 

140 Broadway, 19th Floor, New York, New York 10005, doakland@cftc.gov. If the Respondent 

fails to file the required Answer or fails to appear at a hearing after being duly notified, such 

party shall be deemed in default and the proceeding may be determined against the Respondent 

upon consideration of the Complaint, the allegations of which may be deemed true. 

IT IS FURTHER ORDERED that this Complaint and Notice of Hearing shall be 

served on Respondent personally or by registered or certified mail, pursuant to Section 10.22 of 

the Commission Rule, 17 C.F.R. § 10.22 (2020), or by fax or e-mail or other means as ordered 

herein. In the absence of an appropriate waiver no officer or employee of the Commission 

engaged in the performance of investigative or prosecutorial functions in this or any factually 

related proceedings will be permitted to participate or advise in the decision of this matter except 

as a witness or counsel in proceedings held pursuant to this notice. 

_____________________________________ 

Robert N. Sidman 

Deputy Secretary of the Commission

Commodity Futures Trading Commission

Dated: September 29, 2021