It looks like Odey Asset Management isn't afraid of the new FCA rules governing CFD trading. LeapRate has learned via regulatory filings that UK investment manager Odey Asset Management LLP was busy buying Plus500 Ltd (LON:PLUS) yesterday, as Plus500 shares were plummeting. Odey built its overall stake in Plus500 up to 21.28%, from just under…
Read more
Yesterday may well be known one day as 'FCA Tuesday', the day the UK regulator shook up the online retail trading industry by introducing a hard 50x leverage cap and a ban on bonus inducement payments to retail traders. Many of the brokers affected by the FCA's new rules regime are now regrouping and reevaluating…
Read more
Continuing our coverage of this morning’s news that UK financial regulator the FCA has issued new directives, banning bonus payments to retail traders and limiting CFD trading leverage to 50x, FCA regulated broker CMC Markets Plc (LON:CMCX) has issued a brief statement about the new rules. While stopping short of saying that the new rules won’t…
Read more
Continuing our coverage of this morning's news that UK financial regulator the FCA has issued new directives, banning bonus payments to retail traders and limiting CFD trading leverage to 50x, FCA regulated broker and #2 UK CFD player Plus500 Ltd (LON:PLUS) has issued a brief statement about the new rules. Plus500 did admit that the new…
Read more
UK online trading leader IG Group Holdings plc (LON:IGG) issued a brief response to this morning's new directives from the FCA, banning bonus payments to retail traders and limiting CFD trading leverage to 50x. The response was issued after IG shares, and those of its main publicly traded competitors including CMC Markets Plc (LON:CMCX) and Plus500 Ltd…
Read more
The fallout from the FCA's move this morning to ban account opening bonus payments to retail traders, as well as a hard 50x leverage cap on CFD trading, has been quick and swift. And, fairly severe. Shares of several publicly traded FCA regulated CFD brokers including IG Group Holdings plc (LON:IGG), CMC Markets Plc (LON:CMCX)…
Read more
Markets now fear that the economic reform Italy needs has just become much harder.
Read more
It was a week of sector-changing Forex Industry News. And as usual, you read about it exclusively or first at LeapRate. There were plentiful interesting stories we covered, but they all took a back seat to Cyprus regulator CySEC's ban on bonuses, reported first at LeapRate, as well as changes to trading leverage and client…
Read more
UK online trading giant IG Group Holdings plc (LON:IGG) has issued a Trading Update covering its performance over the first six months of Fiscal 2017. IG has a May 31 year end, so the period covered is from June-November 2016. IG indicated that it continues to perform in line with expectations, after a strong second quarter.…
Read more
LeapRate Exclusive... LeapRate has learned via regulatory filings that global investment bank JPMorgan Chase & Co. (NYSE:JPM) has increased its stake in CFD broker Plus500 Ltd (LON:PLUS) to 9.0%. JPMorgan's most recent filings had indicated a 5.1% interest in Plus500. JPMorgan now holds, via its J.P Morgan Securities plc subsidiary, a total of 10,343,694 Plus500 shares…
Read more