LeapRate Exclusive... 2016 was not a good year for shareholders of publicly traded Forex and CFD brokers. LeapRate analysis (see table below) has calculated that more than $2.4 billion was erased from the market value of online trading brokerages during 2016. On average each brokerage lost more than one-third, or 37%, of its market cap…
Read more
Forex Industry News at LeapRate this week had a very China feel to it, including new China partnerships (eToro), Baidu reversing its China ad ban for selected Forex brokers (a LeapRate Exclusive report), and Neteller and Skrill operator Paysafe Group Plc (LON:PAYS) losing 38% of its value because of perceived China problems. We covered new…
Read more
Following an ASIC investigation, Mr Shun Yuen Ken Li (also known as Leo Lee), of Roseville Chase, New South Wales has pleaded guilty in the Downing Centre Local Court on two charges of dishonestly using his position as an employee. Mr Li, 37, is accused of using his position as an employee of the Australia…
Read more
Stock market investors have continued to dump shares of publicly traded UK Forex and CFD brokers, following new rules proposed last week by UK financial regulator the FCA for CFD trading. We had earlier reported that the FCA's proposals - including a ban on deposit bonus payments to retail traders, and (more importantly) a 50x…
Read more
Gain Capital Holdings Inc (NYSE:GCAP), which operates the retail Forex.com and institutional GTX eFX brands, has announced very healthy trading volumes for the month of November. We had already reported that GTX had its best ever month in November, with volumes topping $14.3 billion ADV, thanks in part to the surprise US election result and the…
Read more
In remarks fairly critical of the FCA's new rules banning bonus payments to retail traders and limiting trading leverage to 50x, IG Group Holdings plc (LON:IGG) CEO Peter Hetherington questioned the logic behind the FCA's moves, and what the likely fallout will be. While discussing what last week was like with UK newspaper The Telegraph in an…
Read more
Forex Industry News at LeapRate was headlined by regulator moves which are clearly going to alter the online trading industry landscape, if not change it altogether. Following news that Cyprus regulator CySEC is proposing to ban bonus payments to retail traders and put a soft cap on leverage - news which was first reported exclusively at…
Read more
LeapRate Exclusive... LeapRate has learned that Jeff Scott, until recently the COO of Gain Capital Holdings Inc (NYSE:GCAP), has left the company. Mr. Scott has resigned his relatively new position as CEO of Gain's recently-launched ForeignExchange.com money transfer business. Jeff Scott had been COO of Gain Capital, and the #2 executive to co-founder and longtime Gain Capital…
Read more
Yesterday may well be known one day as 'FCA Tuesday', the day the UK regulator shook up the online retail trading industry by introducing a hard 50x leverage cap and a ban on bonus inducement payments to retail traders. Many of the brokers affected by the FCA's new rules regime are now regrouping and reevaluating…
Read more
Continuing our coverage of this morning’s news that UK financial regulator the FCA has issued new directives for Forex and CFD trading, banning bonus payments to retail traders and limiting CFD trading leverage to 50x... Shares of Gain Capital Holdings Inc (NYSE:GCAP), parent company of the retail Forex.com and GTX institutional FX brokerage brands, have dropped…
Read more