Deel Changes Terms of Service, Cuts Off High-Risk Trading Sites

Human resources startup Deel revamped its terms of service, banning several additional types of transactions and effectively ending support for some retail trading websites whose activities have lately drawn the scrutiny of securities regulators.

The four-year-old startup, best known for services that help companies hire remote workers, had become popular among websites that run contests based on simulated currency and stock trades; those firms used Deel to pay the winners of those contests. That business supporting the trading firms has shown strains after the Commodity Futures Trading Commission late last month sued MyForexFunds, one of the biggest such firms and a former Deel customer.