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ETX Capital's CEO Andrew Edwards Weighs in on Alpari UK Acquisition
- After ETX Capital announced the purchase of Alpari UK's client base from special administrator KPMG, Forex Magnates' reporters reached out to the CEO of the firm in order to acquire more details about the deal.
Thursday, 26/03/2015 | 18:29 GMT by
Victor Golovtchenko
SEC Charges Unregistered Broker-Dealer Partners of Global Fixed Income
- Global Fixed Income had effectively hired 21 unregistered broker-dealers to buy billions of dollars worth of newly issued bonds illegally between July 2009 and June 2012, promoting a $5 million settlement with the SEC.
Thursday, 26/03/2015 | 17:55 GMT by
Victor Golovtchenko
Alpari UK Sells Client Data to UK Brokerage ETX Capital
- In what is potentially a multimillion pound deal, clients will have the opportunity to get their outstanding balances which are due from Alpari UK to get transferred to their trading accounts with ETX Capital.
Thursday, 26/03/2015 | 15:24 GMT by
Victor Golovtchenko
New US SEC Rule to Target HFT Proprietary Trading Shops
- The U.S. financial regulator is proposing a new rule requiring active broker-dealers trading off-exchange products to become members of a national securities association, thereby enhancing regulatory oversight.
Thursday, 26/03/2015 | 11:10 GMT by
Victor Golovtchenko
Breaking: CWM Responds to City of London Police Investigation
- The Chelsea FC sponsor claims that there might be a coordinated effort to tarnish the group's reputation as CWM have made an offer to the City of London Police to ring fence client funds to allay any general concerns.
Wednesday, 25/03/2015 | 19:32 GMT by
Victor Golovtchenko
FCA Warns against GMT Markets Limited and LCG Clone Tradignition
- The UK financial regulatory body has issued a couple of warnings against unauthorized firms providing broking services without authorization, with Tradeignition imposting as LCG when soliciting clients.
Wednesday, 25/03/2015 | 14:16 GMT by
Victor Golovtchenko
Breaking: FXCM Inc to Sell Its FXCM Japan Unit to Rakuten Securities
- The deal is worth $62 million, with the sale of the Japanese unit of FXCM resulting in the recovery of cash held at the company most likely as a regulatory capital requirement totaling $22 million.
Wednesday, 25/03/2015 | 14:09 GMT by
Victor Golovtchenko
Breaking: Chelsea FC Partners CWM Were Target of Police Heron Tower Raid
- The City police is urging anyone who has invested in CWM’s managed funds offering 5% interest per month to get in contact. The 13 arrests this month were meant to "stop what we believe was an ongoing criminality".
Wednesday, 25/03/2015 | 11:15 GMT by
Avi Mizrahi
LCG Spread Betting and CFDs Revenue down 7% YoY, Sabet Turned CEO
- Alongside its final results statement released this morning, London Capital Group announced a change to the board of directors. Charles-Henri Sabet, currently executive chairman, will assume the role of Group CEO.
Wednesday, 25/03/2015 | 10:01 GMT by
Avi Mizrahi
CWMFX's Parent Group Linked to Massive Offshore Ponzi Scheme, Researcher Says
- According to Offshore Alert, CWM World is linked to a $16 billion Ponzi scheme run by the Mauritius-based Belvedere Management Limited, as sources close to the firm have dismissed the report as inaccurate.
Tuesday, 24/03/2015 | 18:29 GMT by
Victor Golovtchenko
Firms in Singapore, Malaysia, Germany & UAE Top Ranks of CNY Endorsers
- According to the results from HSBC’s annual RMB survey, usage has been steadily climbing with discussions about the Chinese yuan as a business enabler reaching about 22% of company boards worldwide.
Tuesday, 24/03/2015 | 15:53 GMT by
Victor Golovtchenko
Former Rabobank Trader Pleads Guilty of LIBOR Manipulation
Tuesday, 24/03/2015 | 15:10 GMT by
Victor Golovtchenko
50% Chance that Greece Will Leave the Euro, Says George Soros
- The legendary FX trader also said that the start of European QE at the same time the U.S contemplates raising interest rates "probably creates some great opportunities for hedge funds but I'm no longer in that business.”
Tuesday, 24/03/2015 | 13:04 GMT by
Avi Mizrahi
BATS Hotspot Targets Europe by Launching London Matching Engine
Tuesday, 24/03/2015 | 10:57 GMT by
Victor Golovtchenko
Monex Group Inc on Track to Report Higher Y/Y Revenues in Q4
- The globally operating Japanese company Monex Group has been on track to deliver a higher net revenue figure during the fourth quarter of 2015 as the volatility across various asset classes has been much higher.
Tuesday, 24/03/2015 | 09:01 GMT by
Victor Golovtchenko
New LBMA Gold Price Fixing Still Leaves Only Six Market Makers
- Despite the launch of the new benchmark LBMA gold price fixing and the transparency of an electronic market making process, the number of banks bidding in the auction remains disappointingly low.
Monday, 23/03/2015 | 18:37 GMT by
Victor Golovtchenko
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.
Monday, 23/03/2015 | 16:52 GMT by
Avi Mizrahi
Social Trading Network FX Stat Upgrades its FCA License
- The changes make FX Stat fully compliant with updated FCA social trading regulations and license the firm to be providing STP execution services in forex, futures, commodities and spread betting contracts
Monday, 23/03/2015 | 16:49 GMT by
Victor Golovtchenko
DMM FX Australia Goes against Higher Margin Requirements Trends
Monday, 23/03/2015 | 14:08 GMT by
Victor Golovtchenko
Skrill Bought by Rival Payments Provider Neteller for €1.1 Billion
- Optimal Payments Plc (LSE: OPAY), the group behind the popular NETELLER payment solution, has just revealed it would buy rival Skrill Group for a sum of about €1.1 billion in order to expand its online services.
Monday, 23/03/2015 | 12:29 GMT by
Avi Mizrahi
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