NFA Files Complaint Against Forex Wizard Japan

Chicago, December 22, 2025 — The National Futures Association (NFA) has filed a disciplinary complaint against Japan‑based Forex Wizard Inc. and its principal, Mitsuaki Kataoka, alleging undisclosed forex pool operations, delayed investor withdrawals, and failure to cooperate with regulatory requests. The case, assigned No. 25‑BCC‑012, was issued by NFAs Business Conduct Committee.

According to the filing, NFA believes Forex Wizard and Kataoka violated multiple rules governing cooperation with investigations, fair dealing, and promotional practices. The complaint centers on claims that the firm operated a pooled forex investment while reporting to regulators that it was inactive and not conducting customer business.

Forex Wizard has been registered as a commodity trading advisor since 2005 and approved as an NFA Member. For years, the firm reported no account management or trading activity, a status reflected in NFAs BASIC database.

The inquiry began in May 2025 after a Malaysian investor alleged that Forex Wizard collected funds through an entity called “FXPOOL” or “Forex POOL,” promising withdrawals within 45 to 60 days. The investor claimed that after requesting a withdrawal of more than ¥72,500,000 (about $500,000) in February 2025, the funds were not returned and communication ceased.

Investigators found discrepancies in the firms reported locations. Account statements listed a New York City address at 1350 Avenue of the Americas, though Forex Wizard had long reported its base in Nagano, Japan. A site visit revealed no evidence of operations at the New York address, and attempts to reach the firm by phone failed.

Kataoka later admitted to operating a forex pool limited to non‑US investors in Japan, Malaysia, Thailand, and Hong Kong. Records suggested about 40 participants with net assets of ¥245,000,000 (around $1.7 million) as of April 30, 2025. However, NFA said Forex Wizard failed to provide complete client lists, omitting the Malaysian complainant and others who later reported losses.

By late 2025, at least three additional investors contacted NFA citing suspended or delayed withdrawals, with losses ranging from $180,000 to several hundred thousand dollars.

The complaint also highlights concerns over misleading regulatory claims. Forex Wizard maintained a US bank account with Capital One NA but failed to provide requested records for 2024 and 2025. Its websites, including myfxpool.com and fxwiz.info, allegedly misrepresented NFA and CFTC oversight, despite prior warnings from NFA in 2011 and 2012.

If upheld, the allegations could result in penalties ranging from censure and fines of up to $500,000 per violation to suspension or expulsion from NFA membership. The case may also trigger statutory disqualification under the Commodity Exchange Act, potentially barring Kataoka from future registration in the US derivatives industry.

Forex Wizard and Kataoka have 30 days to respond. Failure to file an answer would be treated as an admission of the allegations and a waiver of their right to a hearing.