Copenhagen based multi asset broker Saxo Bank has announced that its FCA regulated arm, Saxo Capital Markets UK Limited, is pulling out of the UK CFD and FX Association, a margin trading industry group. While not giving a specific reason, LeapRate has learned that Saxo is leaving the association in a dispute with the other members…
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It was very much a week of new beginnings in Forex Industry News, with the key stories appearing exclusively at LeapRate: Betfred into getting the Retail FX business by launching TradeFred, FxPro launching spread betting, and Saxo Bank expanding its Australia footprint in a deal with leading online equities broker OpenMarkets. See below for more…
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LeapRate Exclusive... FCA licensed spread betting, Forex and CFD brokers have seen an increasing amount of competition lately, mainly from foreign brokers who come to the UK to get "FCA regulated". These brokers do so in the hopes of landing a foothold in the very lucrative UK market, still the world's highest value market in…
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LeapRate Exclusive... LeapRate has learned that Abu Dhabi-based international financial services firm ADS Securities has hired Fabian Chui as its new Head of Brokerage Risk. Mr. Chui will be based in Abu Dhabi, working with teams based in the UAE, Hong Kong and London. We expect the company to make a formal announcement shortly. Mr. Chui…
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Nobody like a tie. Not in sports. And certainly not in politics. But after a brief yet highly volatile UK election contest, it looks like that it what we just might get. Initial exit polls (see above, source: CNN) are indicating that Theresa May's Conservatives are likely to lose their parliamentary majority, yet remain as…
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Data from UK online financial trading firm IG Group Holdings plc (LON:IGG) and its political trading market indicate an expected Conservative majority government - although a smaller majority than was expected earlier in the campaign. IG clients have seen their expectations of a landslide Conservative win ebb, along with Theresa May’s lead in the polls.…
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Data from UK online financial trading firm IG Group Holdings plc (LON:IGG) and its political trading market indicate that the Conservative's chances of winning are narrowing, but they are still expected to win a healthy majority in this Thursday's upcoming UK election. In general the IG market has reacted to the latest polling data -…
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It was week involving a number of somewhat severe regulator moves in Forex Industry News at LeapRate. Both the Cypriot and Australian financial regulators suspended / revoked the licenses of Retail Forex brokers. And in the US, an offshore broker was sued for taking US clients, a big no-no in the business. In our continuing…
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Shares of FCA regulated CFD broker Plus500 Ltd (LON:PLUS) traded up sharply on Friday morning, after the company announced a planned $10 million share buyback, strong cash levels, and healthy Revenues growth so far in Q2. First, Plus500 announced that trading activity during Q2 has continued on a positive trend as outlined in Plus500's first quarter…
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Shares in UK online trading leader IG Group Holdings plc (LON:IGG) rose by 5% in Wednesday trading, after the company issued a fairly rosy Trading Update for its fiscal fourth quarter of 2017. IG has a May 31 fiscal year end, so the period in question is for the three month period of March-April-May 2017. IG…
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