NFA alleges Forex Wizard misled investors and delayed $500K withdrawal

The National Futures Association has filed a disciplinary complaint against Japan-based Forex Wizard Inc and its principal Mitsuaki Kataoka.

The complaint was issued on Dec. 22, 2025, by the NFA’s Business Conduct Committee and assigned Case No. 25-BCC-012.

Regulators allege the firm operated an undisclosed pooled forex investment while reporting to the NFA that it was inactive.

The NFA claims Forex Wizard violated rules related to cooperation, fair dealing and the use of promotional materials.

Forex Wizard has been registered as a commodity trading advisor and NFA Member since 2005.

For years, the firm reported that it did not manage accounts or conduct forex or commodity interest business.

That status was reflected in the NFA’s public BASIC regulatory database.

The investigation began in May 2025 after a complaint from an investor based in Malaysia.

The investor alleged funds were collected through an entity described as “FXPOOL” or “Forex POOL.”

Withdrawals were reportedly promised within 45 to 60 days.

The investor requested a withdrawal of more than ¥72,500,000, or about $500,000, in February 2025.

Regulators allege the funds were not returned and communication with the firm largely stopped.