Australian FX broker USGFX China office raided, employees held hostage, ASIC monitoring LeapRate

July 24, 2017 BY LeapRate Staff

Australian FX broker USGFX China office raided, employees held hostage, ASIC monitoring

In a dramatic hostage situation now entering its sixth day, Chinese clients of Australia based retail FX brokerage USGFX continue to hold a number of the company's employees as hostages, barricaded inside USGFX's Shanghai offices. Somewhere between 30 to 50 USGFX clients entered the offices last Wednesday, demanding the return of about $2.6 million in…

February 21, 2017 BY LeapRate Staff

FXCC adds China UnionPay for deposits to expand in Asia Forex markets

CySEC regulated forex broker FXCC has announced that it has introduced an extra payment option through its association with China UnionPay. In creating this new relationship, FXCC (formally FX Central Clearing Ltd) has opened up a gateway, allowing new and experienced FX traders from Asian countries such as China, to trade directly through FXCC. We…

February 20, 2017 BY LeapRate Staff

Biggest Trends in the Chinese FX Market in 2017

This article was written by Natallia Hunik, Global Head of Sales at Advanced Markets. Do you think 2017 will be another big year for prime of prime? If so, you’re in very good company. Our view is that, as the Chinese market matures, the 2017 trends in China could boil down to the following: Quality over…

January 23, 2017 BY LeapRate Staff

CLS expands FX settlement presence in China with NIFD think tank agreement

FX settlement services provider CLS Group has announced the signed a memorandum of understanding (MOU) with Chinese think tank National Institution for Financial Development (NIFD), expanding its presence in the country. The MOU defines close co-operation between the two institutions on research and broadening awareness relating to FX, payments and settlement to support the healthy development…

August 19, 2016 BY LeapRate Staff

Suicide, fraud, arrests, Chinese investors and Forex: the sad story of EuroFX

Reuters has published an investigative article entitled London Calling: How British firms built a pyramid scheme in China that lost millions, which describes a network of opaque companies which drew on London's reputation as a leading financial center, and the illusion of regulation, to dupe Chinese investors. The story has all the elements of a great (but sad)…

June 30, 2016 BY LeapRate Staff

Sucden Financial builds China presence adding Lucy Wainman as Head of Sales

International derivatives broker Sucden Financial today announced that Lucy Wainman (pictured at left) has been appointed Head of Sales (China), following the recent departure of Jeremy Goldwyn. Wainman has been with Sucden Financial since 2006, having previously started her commodity career at LME ring dealing member AMT in 2002. In her new role, Wainman will…

May 29, 2016 BY LeapRate Staff

China forex trading retreats 9% in April

Data from Chinese financial regulator State Administration of Foreign Exchange (SAFE) indicates that China's currency exchange market posted turnover of 9.79 trillion yuan (USD $1.5 trillion) in April 2016, down about 9% from 10.71 trillion (USD $1.6 trillion) yuan in March., as reported by Reuters. The amount breaks down between 1.66 trillion yuan in forex transactions between…

May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

Reuters is reporting that China's foreign exchange regulator SAFE has issued new rules simplifying procedures for individuals exchanging foreign currencies, but keeping net purchase quotas unchanged. In what Reuters is calling a minor reform, the State Administration of Foreign Exchange (SAFE) said that financial outlets designated by banks for such exchanges will no longer need…

May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

January 11, 2016 BY Mike Fox

China's Forex regulator says it will increase risk control measures

China’s Forex regulator said over the weekend that it will ramp up risk control efforts, push ahead with regulatory reforms and look to accelerate the development of the worlds second largest economy's Forex market further in 2016. Within the past year we have seen numerous global financial cities open up Renminbi hubs in preparation for…

Tag: China Forex