LeapRate Staff
LeapRate Analyst
squareddirect website
November 12, 2018 BY LeapRate Staff

Exclusive: Retail FX broker ProbusFX rebrands as SquaredDirect

LeapRate Exclusive... LeapRate has learned that CySEC licensed retail forex broker ProbusFX has rebranded as SquaredDirect (at website squareddirect.com). Additionally, the company's legal name has been changed from Aspide Financial Limited to Squared Financial (CY) Limited. This apparently comes as part of the company’s restructuring and pairing up with its sister company, SquaredPro, to form the Squared Financial…

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tools for brokers logo new
November 12, 2018 BY LeapRate Staff

Tools For Brokers unveils new logo and image

Tools For Brokers, a provider of fintech solutions for the crypto and forex industry, has announced a change in its corporate visual standards. The change of corporate style is associated primarily with a change in the positioning of the company and its perception in the eyes of customers. Next year, Tools For Brokers will be…

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Euronext
November 12, 2018 BY LeapRate Staff

FastMatch revenues down 4% in Q3 to €5.4 million

Data from parent company Euronext NV (EPA:ENX) indicate that Forex ECN FastMatch saw a slowdown in business during Q3, with FastMatch revenues down by 4% from €5.6 million in Q2 to €5.4 million (USD $6.1 million) in Q3-2018. That really shouldn't come as a surprise to LeapRate readers, as we had reported over the past…

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Gain Capital forex.com
November 12, 2018 BY LeapRate Staff

GAIN Capital's FOREX.com October FX volumes up 55% to $231 billion

After reporting multi-year lows in trading volumes in September, data from Retail FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP) indicate that the company had a very nice rebound in October, with volumes up 55% MoM, coming in at $231 billion. October activity at GAIN Capital, which operates the FOREX.com and City Index retail forex brands,…

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binary options ban eu
November 09, 2018 BY LeapRate Staff

ESMA re-extends binary options trading ban to April 2019

For the second time since first introducing a three-month ban on offering binary options trading to retail clients in the EU in July 2018, European financial regulator ESMA has extended the ban for a further three months. The current ban is set to lapse on January 1, 2019. The three month extension takes the ban…

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DFSA
November 09, 2018 BY LeapRate Staff

Westpac pays AUD $3.3M fine for Bank Bill Swap Rate conduct

The Federal Court of Australia today has ordered Westpac Banking Corporation (Westpac) to pay a pecuniary penalty of $3.3 million for contravening s12CC of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) through its involvement in setting BBSW in 2010. In reasons for making the pecuniary penalty order, Justice Beach noted the legislative constraint…

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Commerzbank office
November 09, 2018 BY LeapRate Staff

Commerzbank pays $12 million fine for Swap Dealing Violations

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and simultaneously settling charges against Commerzbank AG (Commerzbank) for numerous violations of the Commodity Exchange Act (CEA) and CFTC Regulations, including failing to supervise its Swap Dealer’s activities for more than 5 years and making misleading statements and material omissions to the CFTC concerning its…

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asic license cancelled
November 09, 2018 BY LeapRate Staff

ASIC cancels license of FX broker AGM Markets for 'unconscionable conduct'

After freezing its assets earlier this year, Australia financial regulator ASIC has announced that it has cancelled the Australian financial services (AFS) licence of the retail OTC derivative issuer, AGM Markets Pty Ltd. AGM's brands include AlphaTrade Group and FirstIndex (firstindex.com). An ASIC investigation found AGM’s financial services business involved core elements of unconscionability and unmanaged…

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