FXCM, Monex, SpotOption, OANDA and Aston Martin are among the firms that appear in last week's top articles.
During the passing week the most impactful stories from the Online Trading industry included breaking news about IBFX dropping out of the retail FX market on two continents as well as an exclusive Finance Magnates report on a new company launched by SpotOption. Additionally, a major development has occurred during the week regarding a story first exposed here.
FXCM debt
On Sunday we reported that as part of its Q4 results, Leucadia National Corporation provided an update on its relationship with FXCM. As of December 31st 2015, FXCM had $192.7 million debt outstanding with it after having paid $144.7 million of principal, interest and fees during 2015. The $192.7 million figure is a decrease from the $203 million amount reported by FXCM for the end of September.
For Leucadia, the improvement in FXCM’s stock price allowed it to increase the stated fair value of its investment in FXCM to $625.7 million. This is an improvement from the $613 million that was recorded by Leucadia in September 30th 2015. Overall, according to Leucadia, the firm stated that it recognized $491.3 million of unrealized and realized gain on the FXCM investment for 2015.
Option, IQ Option
On Monday CySEC regulated broker IQ Option Europe signed a new sponsorship deal with Aston Martin Racing, according to the car manufacturer’s website. IQ Option said it wanted to associated itself with speed and reliability, equating the qualities of its platform with the speedy and reliable Aston Martin race car.
The World Endurance Championship brings competition from other high-end car makers, and attracts their fans and audiences as well, including the following competitors in this year’s races: Porsche 911 RSR, Ferrari 458 Italia, Ford GT, Chevrolet Corvette, among others.
Monex retreats, OANDA advances
On Tuesday the news broke that TradeStation, which is owned by Monex Group Japan, is exiting the retail foreign exchange business in the U.S. just over four years after acquiring IBFX for $17 million. Trading on the accounts of the IBFX will be suspended March 4th, and clients can choose to be transferred to new accounts at OANDA.
Soon after, it was revealed that OANDA also acquired the clients of IBFX in Australia. Clients of both the U.S. and the Australian subsidiaries of TradeStation who oppose the transfer of their accounts to OANDA will have to close their existing positions with IBFX and submit a notification and a withdrawal request to the support department.
Police Staff Investigator Joseph Ford from the City of London Police said: “We have been gathering evidence in this case for over a year and today we have made what we believe is a key arrest. This has the hallmarks of a classic boiler room fraud, set-up in the City to give it prestige and credibility with potential investors while selling share options that we believe were totally worthless.”
Spot Paymentech
On Thursday it was exclusively revealed by us that binary options platform developer SpotOption is branching out to the online payments business with Spot Paymentech. The new venture will focus on the binary options market to get established, but it won’t be limited to it as it will target other verticals too, such as e-commerce, gaming and travel as well.
With regard to binary options, Spot Paymentech will engage brokers from the regulated market only, which may limit its growth potential within the industry but will allow it to keep a good reputation with banks, financial authorities and even institutional investors.
During the passing week the most impactful stories from the Online Trading industry included breaking news about IBFX dropping out of the retail FX market on two continents as well as an exclusive Finance Magnates report on a new company launched by SpotOption. Additionally, a major development has occurred during the week regarding a story first exposed here.
FXCM debt
On Sunday we reported that as part of its Q4 results, Leucadia National Corporation provided an update on its relationship with FXCM. As of December 31st 2015, FXCM had $192.7 million debt outstanding with it after having paid $144.7 million of principal, interest and fees during 2015. The $192.7 million figure is a decrease from the $203 million amount reported by FXCM for the end of September.
For Leucadia, the improvement in FXCM’s stock price allowed it to increase the stated fair value of its investment in FXCM to $625.7 million. This is an improvement from the $613 million that was recorded by Leucadia in September 30th 2015. Overall, according to Leucadia, the firm stated that it recognized $491.3 million of unrealized and realized gain on the FXCM investment for 2015.
Option, IQ Option
On Monday CySEC regulated broker IQ Option Europe signed a new sponsorship deal with Aston Martin Racing, according to the car manufacturer’s website. IQ Option said it wanted to associated itself with speed and reliability, equating the qualities of its platform with the speedy and reliable Aston Martin race car.
The World Endurance Championship brings competition from other high-end car makers, and attracts their fans and audiences as well, including the following competitors in this year’s races: Porsche 911 RSR, Ferrari 458 Italia, Ford GT, Chevrolet Corvette, among others.
Monex retreats, OANDA advances
On Tuesday the news broke that TradeStation, which is owned by Monex Group Japan, is exiting the retail foreign exchange business in the U.S. just over four years after acquiring IBFX for $17 million. Trading on the accounts of the IBFX will be suspended March 4th, and clients can choose to be transferred to new accounts at OANDA.
Soon after, it was revealed that OANDA also acquired the clients of IBFX in Australia. Clients of both the U.S. and the Australian subsidiaries of TradeStation who oppose the transfer of their accounts to OANDA will have to close their existing positions with IBFX and submit a notification and a withdrawal request to the support department.
Police Staff Investigator Joseph Ford from the City of London Police said: “We have been gathering evidence in this case for over a year and today we have made what we believe is a key arrest. This has the hallmarks of a classic boiler room fraud, set-up in the City to give it prestige and credibility with potential investors while selling share options that we believe were totally worthless.”
Spot Paymentech
On Thursday it was exclusively revealed by us that binary options platform developer SpotOption is branching out to the online payments business with Spot Paymentech. The new venture will focus on the binary options market to get established, but it won’t be limited to it as it will target other verticals too, such as e-commerce, gaming and travel as well.
With regard to binary options, Spot Paymentech will engage brokers from the regulated market only, which may limit its growth potential within the industry but will allow it to keep a good reputation with banks, financial authorities and even institutional investors.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔