Retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) has announced that it has reached a definitive agreement to acquire the US clients of rival FXCM Inc (NASDAQ:FXCM). Gain declined to say how much it was paying for the FXCM US client base. However we believe that very little cash changed hands (more on that below). Gain…
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Continuing the amazing drama in the wake of the ban of retail forex broker FXCM Inc (NASDAQ:FXCM) and its CEO Drew Niv from the US FX market, and the subsequent sale of FXCM's US clients to rival Gain Capital Holdings Inc (NYSE:GCAP), LeapRate has learned that FXCM has made filings with US regulators that it plans to…
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Following our earlier report that New York based retail forex broker FXCM Inc (NASDAQ:FXCM) had been banned from the US market (alongside bans for CEO Drew Niv and co-founder William Adhout) after FXCM settled allegations of defrauding customers regarding its market making activities, FXCM has put out a statement confirming the settlement with US regulators CFTC…
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Forex Industry News at LeapRate has a very 'affiliate' feel to it this past week, with LeapRate reporting exclusively about major changes made to the affiliate programs at two of the leading online brokers on both sides of the pond, Gain Capital Holdings Inc (NYSE:GCAP) and IG Group Holdings plc (LON:IGG). On the regulatory side of…
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LeapRate Exclusive.... It looks like one of the key strategic goals of 2017 for leading Forex and CFD brokers is to increase affiliate traffic. Just a day after we reported exclusively that New York based Gain Capital Holdings Inc (NYSE:GCAP) was getting set to launch a new-and-improved affiliate program, using third party affiliate management software from the…
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LeapRate Exclusive... LeapRate has learned that Gain Capital Holdings Inc (NYSE:GCAP) is preparing the launch of a new affiliate program, using third party affiliate software from Income Access. Montreal-based Income Access was acquired last year by payment systems provider Paysafe Group Plc (LON:PAYS) for $30 million. The new program will include affiliates of all of…
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GTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported that 2017 started off strong with record ECN volumes of $12.1 billion ADV in January. The $12.1 billion topped last November's $10.3 billion figure at GTX. Overall, including GTX's swap dealer business which provides “voice” agency execution services, total…
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Retail Forex broker Oanda has announced a change in its top management suite. Oanda has appointed Vatsa Narasimha, CFO of the company for the past 3 years, as its new CEO. And out as CEO is Ed Eger, who had joined Oanda in 2013 from PayPal, where he was SVP and General Manager for the…
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GAIN Capital Holdings, Inc. (NYSE: GCAP) just reported its operating metrics for the month of December 2016 and they don't look so good. Retail Segment Metrics OTC average daily volume of $8.6 billion, a decrease of 26.4% from November 2016 and 33.4% from December 2015. OTC trading volume of $189.1 billion, a decrease of 26.4% from…
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National Futures Association (NFA), the self-regulatory organization for the U.S. derivatives industry, has announced that its new proposed rules regarding trade data disclosure around Forex transactions will become effective as of March 31, 2017. We had reported back in November that the NFA decided that more transparency was needed in retail forex transactions - in…
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