UK online trading leader IG Group Holdings plc (LON:IGG) has reported its results for the first half of fiscal 2018 (i.e. the six month period ended November 30, 2017), indicating record half-year Revenues for the company. IG Group has a May 31 fiscal year end. Beyond the numbers, IG Group also outlined a number of…
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Exactly a month after dropping its bombshell proposal of a hard 30x cap on CFD leverage, European pan financial regulatory body ESMA has taken the next step in enacting its proposals by formally opening a 'call for evidence' from the public and affected parties to give formal feedback on its proposals. The consultation period will…
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As 2018 trading pulled into full swing with the new year's first complete week of activity, so did Forex Industry News. And, carrying over from last year, all the key stories appeared only at LeapRate including two key executive moves involving some of the world's leading FX brokers. Who's in and who's out after a…
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UK online trading leader IG Group Holdings plc (LON:IGG) noted that the Financial Conduct Authority (FCA) have today issued a letter to all providers and distributors of contracts for difference (CFD) products. IG informed that it welcomes the FCA's review on the provision and distribution of CFD products to clients on an advisory or discretionary…
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LeapRate Exclusive... LeapRate has learned that Pepperstone senior executive Phil Horner has departed the company, in what seems to have been something of an internal power struggle at the Melbourne, Australia based Retail FX broker. Mr. Horner had spent six years working his way up the ranks at Sydney based ASIC licensed broker AxiTrader, joining…
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Leading online CFDs broker Plus500 Ltd (LON:PLUS) has issued its Trading Update for the end of 2017, indicating that the company will report a record quarter for Q4 in terms of Revenues. We would remind our readers that in Q3 Plus500 reported what we called a 'monster' quarter, with then-best-ever Revenues of $116.5 million, EBITDA of…
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In what is a usually quiet pre-Christmas-break week, Forex Industry News at LeapRate was anything but. ESMA's surprise move to cut maximum leverage allowed in CFD trading shook the industry, eliciting a lot of industry reaction, and hit hard the shares of publicly traded brokers including IG Group Holdings plc (LON:IGG), Plus500 Ltd (LON:PLUS), and CMC Markets…
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Retail forex broker FXCM Group has also released a statement in support of yesterday's announcements by the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) relating to additional customer protections. Further, FXCM hopes this leads to harmonized regulations across Europe. FXCM has long been in full compliance with most of the proposed…
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Copenhagen based multi asset broker Saxo Bank has issued a statement coming out strongly in favour of new FX and CFD brokerage rules proposed by pan-European financial regulator ESMA. At the center of ESMA's proposals - which include a Binary Options ban, required negative balance protection, and a ban on incentive bonus payments to retail…
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New York based FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP), which operates the UK-centric City Index as well as the global FOREX.com brands, has issued a statement in response to European regulator ESMA's plans to limit leverage on FX and CFD trading to 30x. Similar to the reaction of its London-based competitor IG Group…
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