brokers
Daily Forex Market Update: New Focus on Currency Pairs
- In our daily market update by our fairly new guest blogger, John Putman II, we'll learn what currency pairs he 's focusing on after putting aside currency pairs associated with the CHF. How has your trading strategy changed since last Thursday? Leave us a comment after the blog post.
Monday, 19/01/2015 | 15:35 GMT by
Guest Contributors
Upcoming iFX EXPO in Hong Kong: Leading Forex CEOs to Discuss "CHF Black Swan"
- Join about 2,000 attendees on January 28-9 to hear what top notch industry's leaders have to say about the shifting business landscape, rubbing shoulders with key contacts and discovering the hottest regional trends.
Monday, 19/01/2015 | 14:04 GMT by
FMAdmin Someone
GMO Click Suffers $937K Balance Hit following Swiss Franc Convulsions
- On the heels of last week’s Swiss pandemonium and the consequent aftermath on FX markets, GMO Click Holdings incurred $937,766 (¥110 million) in negative client balances, but remains materially solid otherwise.
Monday, 19/01/2015 | 12:10 GMT by
Jeff Patterson
Alpari Sale Talks Seems to Have Collapsed, Final FCA Meeting Imminent
- Forex Magnates has also learned that the broker must report to the FCA within the next hour if any deal has materialized to prevent the insolvency declaration, and according to Forex Magnates sources, no deal has been reached.
Monday, 19/01/2015 | 10:13 GMT by
Avi Mizrahi
If You Are a Broker Pressed to Sell, This May Be Your Way Out
- Over the weekend brokers were quick to inform us about their appetite for other players' businesses. If you happened to be following up on these hoping to score a deal, now you can take it forward by letting us know.
Monday, 19/01/2015 | 10:00 GMT by
Finance Magnates Staff
Monex Group Reports Negative Balance Loss of over $1.3M from Swiss Franc Volatility
- Monex Group announces that their combined brands which include Tradestation and remnants of IBFX suffered client negative balances around $1.35 million following Swiss franc volatility last Thursday.
Monday, 19/01/2015 | 00:26 GMT by
Ron Finberg
The Forex Industry Battles EUR/CHF Meltdown: Real Time Updates
- Forex Magnates provides a breakdown of the EUR/CHF crash's impact on the FX industry. See how much each broker lost, who is looking to take over failing competitors and who is looking to get bought out of the market.
Sunday, 18/01/2015 | 16:41 GMT by
Avi Mizrahi
Breaking: FXCM Emerges as Potential Buyer for the Business of Alpari UK
- In a surprise, brazen move, FXCM - just out of its own trouble, has emerged as a potential savior for Alpari UK. It now seems the American firm asked for the $300 million Leucadia National bailout so it can expand.
Sunday, 18/01/2015 | 15:45 GMT by
Avi Mizrahi
Did Banks 'Bucketshop' Retail Forex Brokers? Winners and Losers from Swiss Franc Volatility
- It was the non-dealing desk forex brokers that ultimately found themselves operating risky operations, for a change, versus their market making brethren, as CHF moves wiped out clients and led to negative balances.
Sunday, 18/01/2015 | 14:10 GMT by
Ron Finberg
Exclusive: Alpari UK's Sale Imminent after Suffering $45 Million in Negative Client Balances
- The news of the imminent sale comes after the UK branch of this large Russian broker reversed its insolvency process announcement in a surprise move last night. Identities of the buyers were not revealed.
Sunday, 18/01/2015 | 10:04 GMT by
Avi Mizrahi
Alpari UK Reverses Formal Insolvency Process Announcement, Considering a Sale
- The wild rollercoaster ride continues as Alpari UK Clarifies it has not entered a formal insolvency process "notwithstanding previous announcements." The Board of directors are "urgently" considering a sale.
Saturday, 17/01/2015 | 21:58 GMT by
Finance Magnates Staff
FXCM Confirms Raising $300 Mln to "Stay One of the Largest Global Brokers"
- On the heels of a $300 million Leucadia National bailout, FXCM has confirmed that it has managed to ensure full financial stability to all its client accounts, after clients faced negative equity balances owed to the broker.
Saturday, 17/01/2015 | 20:03 GMT by
Jeff Patterson
Is Your Broker Weathering the CHF Storm? Real Time Updates
- Thanks to a surprise shakeup from SNB, the FX industry has been placed in a state of flux with the playing field radically redrawn – consult Forex Magnates’ comprehensive broker list to see the state of each broker.
Saturday, 17/01/2015 | 14:35 GMT by
Jeff Patterson
Marketers Pounce on the Opportunity to Pinch Competitors' Clients during Times of Difficulty
- Forex and CFD brokers are looking to absorb clients from competing firms. Data from marketing channels shows that brokers are using interesting marketing phrases against brokers that have been affected by the CHF crisis.
Friday, 16/01/2015 | 21:59 GMT by
Adil Siddiqui
Breaking: Leucadia Hands FXCM $300 Mln Life-Line
- US holding company, aka the baby Berkshire Hathaway, Leucadia National has given troubled forex broker-dealer FXCM a $300 million financing. The move comes after talks earlier in the day to support the broker.
Friday, 16/01/2015 | 20:49 GMT by
Adil Siddiqui
Tradeview Markets Emerges Unscathed, on the Prowl for New Business?
- Friday’s aftermath of the CHF volatility has heralded a death knell for several brokers, while helping reshuffle the playing field for the rest – all the while Tradeview Markets has survived and emerged out of the crisis with an eye on expansion.
Friday, 16/01/2015 | 18:34 GMT by
Jeff Patterson
Breaking: FXCM in Fire Sale Talks with Potential Buyers
- Forex Magnates has learned that FXCM is in talks with several private equity funds, as well as cash- rich brokers to complete either a partial or full asset sale or raise between $100-200 million by as early as Monday.
Friday, 16/01/2015 | 16:19 GMT by
Jeff Patterson
Interactive Brokers Suffers $120 Million in Client Losses, Trading Uninterrupted
- Interactive Brokers Group (NASDAQ GS: IBKR) joins a short list of brokers who suffered sizable losses yesterday at the hands of the SNB’s snap decision to abandon its currency peg, whose client losses are estimated at $120 million.
Friday, 16/01/2015 | 15:44 GMT by
Jeff Patterson
Vultures Out: Brokers Reviewing the Wreckage for ‘Groyse Metsia’ Acquisitions
- Forex Magnates has learned that some larger and well capitalized brokers are out making calls today about acquiring outright or purchasing a share of customer books to provide capital to struggling brokers.
Friday, 16/01/2015 | 14:49 GMT by
Ron Finberg
Daily Forex Market Update: USD/CAD Wakes up in Early US Session
- Our new guest contributor, John Putman II, accompanies us on a daily basis with his aphorism of the daily market, each time sharing with us a chart he prepares with the status quo of the currency pairs that are relevant to him.
Friday, 16/01/2015 | 14:40 GMT by
Guest Contributors
BMFN All Smiles as Business Continues as Usual
- Friday has been a house of horrors for FX brokers, which reached a climax when Alpari UK and FXCM collectively faced dire straights – conversely, BMFN has emerged out of the CHF maelstrom unscathed and is business as usual.
Friday, 16/01/2015 | 14:15 GMT by
Jeff Patterson
GAIN Capital Generated a Profit on the Forex Industry's Black Thursday
- GAIN Capital is another brokerage which is reporting to have in place a solid risk management framework which prevented it from being materially impacted by the Swiss National Bank's decision.
Friday, 16/01/2015 | 14:00 GMT by
Victor Golovtchenko
Dukascopy, FXTM an Oasis of Calm, FXOpen Resumes CHF Crosses
- The line in the ground today appears to differentiate between outright catastrophe (Alpari UK, FXCM) and the ‘business as usual’ mantra, with the majority of brokers falling into the latter, including FXTM and Dukascopy Bank
Friday, 16/01/2015 | 13:34 GMT by
Jeff Patterson
FXCM Inc Shares Trading down 85% in Pre-Market Trading
- Credit Suisse and Citi issued downgrades on the shares of FXCM Inc this morning as the company and its peers across the industry are losing substantial amounts of market value in pre-market trading on the NYSE.
Friday, 16/01/2015 | 12:59 GMT by
Victor Golovtchenko
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