LeapRate Exclusive... LeapRate has learned that US financial regulatory body the National Futures Association (NFA) has issued a directive to all licensed forex brokers in the country, indicating that they must cut leverage and raise margin requirements on all GBP currency pairs. The new required minimum margin on both new trades and existing positions is…
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LeapRate Exclusive... LeapRate has learned that the Israeli financial regulator the Israel Securities Authority (ISA) has issued a Dealers' license to a sixth retail forex broker, Colmex. Colmex Israel, or formally TGL Colmex Capital Markets Ltd., operates website colmex.co.il, and is a sister company of CySEC regulated Colmex Pro Ltd, which operates colmex.com and colmexpro.com. All the…
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Australia based research house Investment Trends has released its 2016 UK Leverage Trading Report, an in-depth analysis of UK traders and investors’ attitudes and investing habits based on a large-scale survey of more than 12,000 UK investors conducted both before and after the Brexit vote. Not surprising, perennial industry giant IG Group Holdings plc (LON:IGG) remains…
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Beginning what we believe will be a series of fairly so-so October trading volume reports by both retail and institutional Forex platforms, Forex ECN FastMatch is reporting that volumes in its system fell marginally by 1% MoM from September, to average $13.6 billion ADV for the month. That being said, September was FastMatch's second best month ever for FX…
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LeapRate Exclusive... LeapRate has learned that FCA regulated multi-asset broker Walbrook Capital Markets Limited is restructuring its operations, with the main change being that it has tapped board member Conor Ringland to replace Paul Inkster as its CEO. We understand that Inkster will remain with Walbrook, with a more commercial role (and a different title), while…
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Retail forex broker FXCM Inc (NASDAQ:FXCM) has announced that it has closed on its previously announced sale of the DailyFX.com Forex research website business to IG Group Holdings plc (LON:IGG) for a price of $40 million. Cash of $36 million was paid by IG to FXCM on closing, with an additional $4 million to be…
Read moreIntroducing broker Vankar Trading, an NFA-member introducing broker based in Chicago, has seen the NFA permanently bar it from membership and from acting as principal of an NFA member. In addition, the NFA has barred John S. Karvelas, sole principal of Vankar, from acting as a principal of an NFA Member for 10 years. Karvelas was…
Read moreBeginning what we believe will be a series of fairly strong September trading volume reports by both retail and institutional Forex platforms, Forex ECN FastMatch is reporting that volumes in its system rose by 33% MoM from August, to average $13.7 billion ADV for the month. September was FastMatch's second best month ever for FX trading volumes, second only…
Read moreIt was a very busy Forex Industry News week at LeapRate, with a little of everything - public offerings, M&A, regulatory moves, new licenses, executive moves, financial results.... and of course, our usual dose of behind-the-scenes exclusive coverage you'll see only at LeapRate. Our most popular guest posts this week were: 4 ways to enhance the…
Read moreWell it looks as if FXCM still does have some salable assets. Continuing its parade of asset sales in order to repay its high-interest loan from Leucadia National Corp (NYSE:LUK), retail forex broker FXCM Inc (NASDAQ:FXCM) has sold its very popular research, education and market news website DailyFX to UK online trading giant IG Group Holdings plc…
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