GAIN, Saxo, eToro, and a Binary Options Arrest: Best of the Week
- Catch up on last week's top stories.

GAIN, Saxo, eToro and Cobalt all appeared in last week's top stories.[gptAdvertisement]
New York arrest
Lee Elbaz, former CEO of binary options technology provider Yukom, has been arrested in New York. This followed an FBI investigation into wire fraud and conspiracy to facilitate wire fraud.
The firm provided technology to Eagle Option and Binary Book. The unlicensed companies targeted clients in the US.
“We are still in the early stages of the case, and have not been presented with an indictment. The company believes that there are quite a few mistakes in the theory presented by the prosecution, and that in due course the evidence gathered will portray a very different picture,” said Dr. Zvi Gabbay of Barnea & Co., representing the defendant.
GAIN's revenues improve
GAIN Capital’s UK entity, reporting the consolidated metrics of City Index and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term.com UK, has filed its annual report for 2016 with the UK Companies House. The firm reports a 39 percent annualized increase in revenues.
IG does well too
The first quarter of fiscal 2018 ended for IG Group the company on the 31st of August 2017, and it reported a 21 percent improvement in revenues year-on year.
The increase defied both a relatively quiet summer and the ongoing Brexit debacle.
Saxo Bank's Italian connection
Saxo Bank, the Danish multi-asset trading and technology provider, plans to form an exclusive partnership with Italian bank Banca Generali.
Through this agreement, Saxo Bank will be able to offer its technology and online trading services to clients and financial advisors. Through dynamic hedging, Banca Generali will be able to offer a range of expanded services to its private and corporate clients.
eToro UK sitting pretty
eToro UK Limited, the UK subsidiary of a leading social trading brand, has reported tripled revenues year-on-year.
The company’s net income totalled £1.8 million ($2.4 million). Administrative expenses also increased, marking a total of £1.7 million ($2.3 million), for a net profit of £106,000 ($143,000).
Commenting to Finance Magnates, founder and CEO Yoni Assia said: “2016 was a record year for eToro globally. We have seen significant growth continue in 2017, both globally and for eToro UK, and expect 2017 to be another record year for out company.”
GAIN, Saxo, eToro and Cobalt all appeared in last week's top stories.[gptAdvertisement]
New York arrest
Lee Elbaz, former CEO of binary options technology provider Yukom, has been arrested in New York. This followed an FBI investigation into wire fraud and conspiracy to facilitate wire fraud.
The firm provided technology to Eagle Option and Binary Book. The unlicensed companies targeted clients in the US.
“We are still in the early stages of the case, and have not been presented with an indictment. The company believes that there are quite a few mistakes in the theory presented by the prosecution, and that in due course the evidence gathered will portray a very different picture,” said Dr. Zvi Gabbay of Barnea & Co., representing the defendant.
GAIN's revenues improve
GAIN Capital’s UK entity, reporting the consolidated metrics of City Index and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term.com UK, has filed its annual report for 2016 with the UK Companies House. The firm reports a 39 percent annualized increase in revenues.
IG does well too
The first quarter of fiscal 2018 ended for IG Group the company on the 31st of August 2017, and it reported a 21 percent improvement in revenues year-on year.
The increase defied both a relatively quiet summer and the ongoing Brexit debacle.
Saxo Bank's Italian connection
Saxo Bank, the Danish multi-asset trading and technology provider, plans to form an exclusive partnership with Italian bank Banca Generali.
Through this agreement, Saxo Bank will be able to offer its technology and online trading services to clients and financial advisors. Through dynamic hedging, Banca Generali will be able to offer a range of expanded services to its private and corporate clients.
eToro UK sitting pretty
eToro UK Limited, the UK subsidiary of a leading social trading brand, has reported tripled revenues year-on-year.
The company’s net income totalled £1.8 million ($2.4 million). Administrative expenses also increased, marking a total of £1.7 million ($2.3 million), for a net profit of £106,000 ($143,000).
Commenting to Finance Magnates, founder and CEO Yoni Assia said: “2016 was a record year for eToro globally. We have seen significant growth continue in 2017, both globally and for eToro UK, and expect 2017 to be another record year for out company.”