February 13, 2017 BY LeapRate Staff
Drew Niv and Brandon Mulvihill withdraw from FXCM UK board
Does this portend a departure of Drew Niv from FXCM altogether?
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February 13, 2017 BY LeapRate Staff
FXCM settles on $650,000 CFTC fine for being undercapitalized after the Swiss Franc spike of January 2015
LeapRate Exclusive... LeapRate has learned from court documents that retail forex broker FXCM Inc (NASDAQ:FXCM), recently banned from the US forex market, has agreed to pay a $650,000 fine in settlement of charges that it was undercapitalized, and slow to report its capital position, in the wake of the January 15, 2015 spike in the value…
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February 13, 2017 BY LeapRate Staff
FXCM US clients: Revenues $52 million, EBITDA loss $12 million, Net Loss $18 million
Retail forex broker FXCM Inc (NASDAQ:FXCM) filed early Monday some more details regarding the US clients it is offloading to rival Gain Capital Holdings Inc (NYSE:GCAP). The sale is occurring after FXCM and its CEO Drew Niv were issued a ban from the US forex market, following settlement of allegations that FXCM defrauded its customers over…
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February 10, 2017 BY LeapRate Staff
FXCM provides details of sale of US clients to Gain Capital
As we reported earlier, Gain Capital did not have to pay anything up front to FXCM.
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February 08, 2017 BY LeapRate Staff
FXCM US ban fallout: Leucadia executives replace Drew Niv and William Ahdout on FastMatch board
Continued fallout from the ban of FXCM Inc (NASDAQ:FXCM) and its co-founders Drew Niv and William Ahdout from the US forex sector... Institutional Forex ECN FastMatch, in which FXCM holds an equity stake, announced that Mr. Niv and Mr. Ahdout have left the FastMatch board of directors, effective immediately. They have been replaced by two…
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February 08, 2017 BY LeapRate Staff
Gain Capital finalizes acquisition of FXCM's US clients
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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February 07, 2017 BY LeapRate Staff
FXCM lays off 150 employees and redoes Leucadia agreement in wake of US market exit
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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February 07, 2017 BY LeapRate Staff
FXCM sells its US clients to Gain Capital as it exits US Forex market
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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December 13, 2016 BY LeapRate Staff
FXCM reports best retail forex volumes since mid 2015 at $353 billion in November
Retail forex broker FXCM Inc (NASDAQ:FXCM) continued a parade of very strong volume reports from leading retail forex brokers around the world in November, by reporting its best results since last June. Retail FX volumes came in at $353 billion at FXCM, up 16% over October. Institutional volumes were also up 17%, at $28 billion.…
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November 10, 2016 BY LeapRate Staff
FXCM ties 50% of senior management bonuses to repaying Leucadia loan in 2017
Retail Forex broker FXCM Inc (NASDAQ:FXCM) has released details of its 2017 executive compensation plan, and it seems that it is placing a large premium on repaying in full its loan from Leucadia National Corp (NYSE:LUK). On November 7, FXCM's Board of Directors approved the company’s 2017 Incentive Bonus Plan for Founder-Directors and Specified Executive Officers for the…
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