CFTC charges FXCM with undercapitalization related to the 2015 Swiss Franc spike

August 19, 2016 BY LeapRate Staff

CFTC charges FXCM with undercapitalization related to the 2015 Swiss Franc spike - but why now?

In a very bizarre filing, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action today against the Forex Capital Markets LLC unit of Retail Forex broker FXCM Inc (NYSE:FXCM), charging FXCM with undercapitalization, failure to timely report its undercapitalization violation, and guaranteeing against customer losses. What's bizarre about the CFTC filing? The filing…

August 07, 2016 BY LeapRate Staff

Forex Industry Week Review: AxiTrader PE capital raise, launch of Blueberry Markets, France ban, and lots more...

It was a mix of corporate reports and regulatory events in Forex Industry News at LeapRate this week. LeapRate broke the story of the latest regulated Forex broker to launch, Australia's Blueberry Markets. We were also first to bring you news and analysis of AxiTrader's large private equity capital raise, France's ban on advertising highly…

August 04, 2016 BY LeapRate Staff

FXCM Revenues down 1% in Q2, still owes Leucadia $192.5 million

The quarterly financial reports of retail forex broker FXCM Inc (NYSE:FXCM) have been increasingly difficult to decipher. On paper, FXCM just reported a $60.5 million net profit for Q2 on revenues of $70.6 million. Which looks great. However a number of accounting charges mask what is really going on. The highlights from our standpoint are: Revenues…

August 01, 2016 BY LeapRate Staff

FastMatch FX volumes see 21% post-Brexit decline in July to $12.9 billion ADV

Looks like June's Brexit-driven volatility and record FX trading volumes didn't fully spill over into July. As we begin to review the July FX trading volumes at leading retail and institutional eFX platforms, FastMatch is reporting that volumes in its system fell 21% MoM from June (a record month for FastMatch) to average $12.9 billion ADV for the…

July 31, 2016 BY LeapRate Staff

Forex Industry Week Review: broker employee arrested, Dubai broker shut, FXCM's mobile partnership, and lots more…

Forex Industry News at LeapRate this week was a very mixed bag of regulatory, corporate, and even legal news. Once again LeapRate broke the most popular story of the week in the FX world, uncovering the arrest of a senior employee at a Limassol-based retail forex broker for trying to sell client information to a…

July 26, 2016 BY Valentina Kirilova

SwipeStox signs up FXCM for its mobile social trading app

Social mobile trading app developer Swipestox has sealed a further partnership with the Forex Capital Markets LTD (FXCM), New York unit of FXCM Inc (NYSE:FXCM), which will see FXCM joining its growing network. FXCM traders who engage in mobile social trading on the SwipeStox app may trade all major forex crosses, international indices and soft…

July 17, 2016 BY LeapRate Staff

Forex Industry Week Review: FXCM $125M raise, Myfxbook license lapse, and lots more…

Forex Industry News this past week at LeapRate had a decidedly corporate feel. After a few weeks dominated by either Brexit or regulatory issues, it was back to basics as we were first to report on stories involving FXCM, Myfxbook, LMAX, Dukascopy, and others. Two guest posts were among our Top-10 most hit and searched-for…

July 13, 2016 BY LeapRate Staff

FXCM files shelf prospectus indicating plans for $125 million capital raise

Forex broker FXCM Inc (NYSE:FXCM) has filed a shelf prospectus with the U.S. Securities and Exchange Commission (SEC), indicating that the company is planning to raise in the neighborhood of $125 million in the near future. According to the prospectus, the capital raise could be in the form of equity, debt, or some combination thereof.…

July 11, 2016 BY LeapRate Staff

FXCM sees June Retail Forex trading volumes lowest since early 2015 at $275 billion

Going against a trend we have seen from most retail and institutional eFX trading venues, June Retail Forex volumes at FXCM Inc (NYSE:FXCM) were down 2% MoM at $275 billion. Brexit-driven volatility in the currency markets drove trading volumes higher in virtually every FX broker and institutional platform which reported so far for June, but not FXCM.…

July 11, 2016 BY LeapRate Staff

US Retail Forex assets rise 5% in May as FXCM, Forex.com and Oanda gain

CFTC data from US retail forex brokers is out for May, showing a surprising across-the-board pickup in activity at the leading brokers in the country. Overall, forex assets rose 5% to $516.2 million in May, after April saw the industry total fall below $500 million for the first time in several years. Each of the…

Tag: FXCM Inc (NYSE:FXCM)