fxcm
FXCM ordered to pay $6 million more by the CFTC to settle allegations of failure to monitor and maintain its trading systems
- In total FXCM will pay over $16.2 million to settle NFA and CFTC's charges. This is the continuation of the NFA's fine back in August which charged FXCM with retaining gains derived from positive price slippage; failing to adopt or carry out adequate procedures to ensure the efficient execution of all customer orders; failing to treat all customers equally when giving price adjustments; and failing to adequately investigate suspicious activity in all customers’ accounts. The Complaint charged FXCM and Niv with failing to supervise.
Monday, 03/10/2011 | 18:04 GMT by
Michael Greenberg
Hotspot FX volume jumps 130% year on year but only 1.5% month on month
- Unlike FXCM who yesterday reported double digit volumes growth month-on-month and year-on-year Hotspot FX posted only a moderate month on month growth for August but more than impressive year on year growth.
Friday, 16/09/2011 | 10:04 GMT by
Michael Greenberg
FXCM's August 2011 Monthly Metrics - Crazy August means volumes are up!
- As we already know August was one crazy (volatile) month. This means two things - brokers will report volumes higher than the average and many traders will have lost money. We'll see this reflected both in the public brokers' data, such as FXCM below, and in this quarter's profitability report (due in October). Not surprisingly FXCM shows a very strong growth in volumes, especially institutional ones, amid slow growth in number of accounts.
Thursday, 15/09/2011 | 21:11 GMT by
Michael Greenberg
FXCM to Acquire Japanese Forex Broker Foreland Forex Co., Ltd.
- FXCM has just annouced that its fully owned subsidiary FXCM Japan has agreed to acquire another Japanese broker named Foreland Forex (https://www.foreland.co.jp/). Details of the transaction were not disclosed at this point but we show see more in the next FXCM's quarterly report.
Wednesday, 14/09/2011 | 18:33 GMT by
Michael Greenberg
NFA fines FXCM $2 million for slippage malpractices, FXCM will credit clients back
- Apparently Non Dealing Desk doesn't mean you get the best execution - NFA has just announced that it heavily fined FXCM for slippage malpractices. FXCM will pay $2 million directly to NFA and will compensate all customers who suffered from this practice since June 2008. The details of this case are not much different from the similar fine of $459k which NFA imposed on Gain Capital for using the Virtual Dealing plugin and similar slippage settings.
Saturday, 13/08/2011 | 17:14 GMT by
Michael Greenberg
FXCM Inc. Announces Second Quarter 2011 Results and July Operating Metrics - Revenues up, Volume down
Thursday, 11/08/2011 | 10:50 GMT by
Michael Greenberg
CFTC fines FXCM UK $140,000 for acting as a counterparty to US retail forex clients
- Update: FXCM published a statement which explains why this happened - basically FXCM was caught between CFTC's and FSA's rules whereas CFTC required FXCM to shut down US accounts, FSA required FXCM to provide sufficient notice.
Wednesday, 03/08/2011 | 22:14 GMT by
Adil Siddiqui
PFGBEST Enters China
- It is no surprise to us that PFGBEST is focusing on China. Just to give you an idea on the potential for currency trading in China: Industry leader FXCM announced that Chinese residents accounted for $418 Billion in volume for the fiscal year 2010.
Friday, 29/07/2011 | 10:56 GMT by
FMAdmin Someone
US Forex brokers profitability report for Q2 2011
- All brokers (except Tradestation) have updated their profitability numbers for the second quarter 2011. What clearly stands out is the drop in profitability experienced by clients of all brokers (with the exception of Advanced Markets - but its numbers are insignificant). On average clients' profitability dropped 4% since last quarter. When talking to brokers most of them stated the same reason for this - increased volatility during the quarter.
Monday, 11/07/2011 | 19:35 GMT by
Michael Greenberg
Class action suit against FXCM for alleged inflated IPO price is dismissed with prejudice
Friday, 08/07/2011 | 10:19 GMT by
Michael Greenberg
Available Gold and Silver trading choices for US traders
Tuesday, 05/07/2011 | 16:07 GMT by
FMAdmin Someone
Tradency's Mirror Trader Forex Trading platform now fully integrated with Currenex
Tuesday, 21/06/2011 | 16:27 GMT by
Michael Greenberg
FXCM UK now offers stock trading, launches www.fxcmstocktrading.com
Tuesday, 21/06/2011 | 08:49 GMT by
Michael Greenberg
Regulation and consolidation in the US market - number of brokers offering retail forex trading plummets 50% in 4 years
Monday, 20/06/2011 | 09:47 GMT by
Michael Greenberg
Analyzing public forex brokers – what analysts need to know
Monday, 13/06/2011 | 11:50 GMT by
FMAdmin Someone
CMS Forex launches infographic and social marketing initiatives
Tuesday, 07/06/2011 | 23:54 GMT by
FMAdmin Someone
After tumbling 25% in two days FXCM is announcing a $30m buyback
Tuesday, 17/05/2011 | 18:36 GMT by
Michael Greenberg
FXCM Announces First Quarter 2011 Results and April Monthly Metrics
Monday, 16/05/2011 | 11:20 GMT by
Michael Greenberg
FXCM's 2010 Year Report Presentation Made Available
Monday, 16/05/2011 | 08:11 GMT by
Michael Greenberg
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