CWM FX Suspends Service after Leverate Cut All Ties to the Broker
- Forex Magnates has learned that Leverate notified clients of CWM FX that the broker was switching liquidity providers and that they needed to withdraw funds and would be able to redeposit when a new platform launches.
London headquartered broker CWM FX has suspended its service and is apparently looking to relaunch with a new white label provider.
Visitors to the CWM FX website are now only able to submit questions via a contact form or login to see their accounts if they are already registered clients.
Forex Magnates has learned that Leverate notified clients of CWM FX about two weeks ago that the broker was switching Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent providers as the relationship between the two companies has been terminated. Clients were also informed that they needed to withdraw all funds and would be able to redeposit when a new platform launches.
As CWM FX has been a white label of Leverate since October 2014, cutting all ties with Leverate explains why the majority of the website has been taken down.
Under a white label agreement a broker can receive the whole retail website from its solution provider. The products and services that Leverate offered CWMFX were the trading platform, extension of its financial license, liquidity and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, . These have all ended over a week ago.
CWM FX has drawn considerable attention in the UK market thanks to its sponsorship of the world famous Chelsea Football Club. Earlier this month, when the London police raided an office tower in the heart of the city's financial district, CWM FX's name was brought up by the local press as the possible target.
The police confirmed the arrest of ten men and three women in one of the tower’s financial services firms, stating that the employees were arrested for suspicion of false representation, conspiracy to defraud and money laundering. The company’s identity was not revealed, and CWM FX said at the time that it was operating as normal. It tweeted: "Merely an AML enquiry & had no correspondence to us.”
While the police raid might not have been directly related to CWM FX, such bad press can hurt the reputation of any firm. Leverate, as a company that serves many brokers operating in different countries around the world, might not have wanted its brand to be linked to a firm whose name is tarnished.
London headquartered broker CWM FX has suspended its service and is apparently looking to relaunch with a new white label provider.
Visitors to the CWM FX website are now only able to submit questions via a contact form or login to see their accounts if they are already registered clients.
Forex Magnates has learned that Leverate notified clients of CWM FX about two weeks ago that the broker was switching Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent providers as the relationship between the two companies has been terminated. Clients were also informed that they needed to withdraw all funds and would be able to redeposit when a new platform launches.
As CWM FX has been a white label of Leverate since October 2014, cutting all ties with Leverate explains why the majority of the website has been taken down.
Under a white label agreement a broker can receive the whole retail website from its solution provider. The products and services that Leverate offered CWMFX were the trading platform, extension of its financial license, liquidity and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, . These have all ended over a week ago.
CWM FX has drawn considerable attention in the UK market thanks to its sponsorship of the world famous Chelsea Football Club. Earlier this month, when the London police raided an office tower in the heart of the city's financial district, CWM FX's name was brought up by the local press as the possible target.
The police confirmed the arrest of ten men and three women in one of the tower’s financial services firms, stating that the employees were arrested for suspicion of false representation, conspiracy to defraud and money laundering. The company’s identity was not revealed, and CWM FX said at the time that it was operating as normal. It tweeted: "Merely an AML enquiry & had no correspondence to us.”
While the police raid might not have been directly related to CWM FX, such bad press can hurt the reputation of any firm. Leverate, as a company that serves many brokers operating in different countries around the world, might not have wanted its brand to be linked to a firm whose name is tarnished.