Cambodians burned as forex trading company halts operations

Politically connected platform GFX promised monthly returns of up to 10%

20210409 GFX

Investors denied access to funds held by foreign exchange trader GFX have taken to social media to demand compensation. (Source photos from GFX website and Reuters)

SHAUN TURTON, Contributing writer

PHNOM PENH -- The abrupt closure of a politically connected investment company in Cambodia has left investors worried they may never recover their money -- and turned a spotlight on the country's nascent derivatives market.

GoldFX Investment, which says it earns returns for investors through foreign currency trades, announced a "temporary" suspension of operations in March but has yet to resume service.

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