Global Brokerage releases Q4 results, repays part of Leucadia Credit Agreement LeapRate

March 20, 2017 BY Valentina Kirilova

Global Brokerage releases Q4 results, repays part of Leucadia Credit Agreement

After the fairly steep decline in trading volumes released in February report, Global Brokerage Inc (NASDAQ:GLBR), recently renamed from FXCM Inc, today announced its fourth quarter results ended December 31, 2016. Fourth quarter 2016 Highlights & Updates: U.S. GAAP net revenues from continuing operations of $80.6 million U.S. GAAP net income attributable to Global Brokerage, Inc. from…

March 20, 2017 BY Valentina Kirilova

Italy regulator CONSOB warns against Godhand Edge Fund Management Llc

The National Commission for Companies and the Stock Exchange (Commissione Nazionale per le Società e la Borsa – CONSOB) just reported that the company Godhand Edge Fund Management Llc is not authorised to provide investment services or activities in Italy in any way. The Commissione Nazionale per le Società e la Borsa (CONSOB) is the…

March 20, 2017 BY LeapRate Staff

Alpha Q1 results: Revenues £5.7 million, Profit £1.2 million, Client Cash £45 million

Following on our exclusive coverage of the 2016 results (12 months to September 30, 2016) of institutional FX brokerage ACM Group plc, more commonly known in the industry as just Alpha, we have been provided the company's results for the first quarter of fiscal 2017 indicating that Alpha's 2016 restructuring and strategy of focusing on…

March 20, 2017 BY Valentina Kirilova

SFC bans a former account executive of HSBC Broking Securities for six months

The Securities and Futures Commission (SFC) has banned Mr Philip Leung Ming Yin, a former account executive of HSBC Broking Securities (Asia) Limited (HSBC Securities), from re-entering the industry for six months from 17 March 2017 to 16 September 2017. The SFC found that Leung used his mobile phone and messaging application WeChat to receive…

March 20, 2017 BY Valentina Kirilova

Forex broker XTB Q4 close to their best record ever

Warsaw based X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates Retail Forex broker XTB.com, reported a 77.7 million PLN consolidated net profit in 2016 (to 119.0 million PLN year earlier). XTB net profit in the fourth quarter rose turn YoY by 206% to 50.4 million PLN. The fourth quarter was the very best for the Group throughout…

FTX vexed by futures manipulation lawsuit for ‘sparking cascade of trades’

March 20, 2017 BY LeapRate Staff

Laid off Binary Options staffers file lawsuit as broker bolts Israel for Georgia

Israel business newspaper Globes is reporting that two former Binary Options salespeople who worked in one of the (many) call centers the industry had until recently in Israel are suing their former employer. The two, referred to only by Globes as "N" and "R", were fired from their high-paying jobs last month as their employer…

March 20, 2017 BY Valentina Kirilova

HKEX enhances shareholding information at HKEXnews

Hong Kong Exchanges and Clearing Limited (HKEX) just announced that is offering new Stock Connect shareholding information on the HKEXnews website. Investors are now able to view on the HKEXnews website a full list of the combined shareholdings of Hong Kong and international investors in individual A shares through Stock Connect and similarly, a full…

March 20, 2017 BY Valentina Kirilova

Former director fined for failing to notify market of share trading

Mr Angus Matthew Holt, of Sunshine Beach, Queensland, has been convicted and fined in the Maroochydore Magistrates Court for failing to lodge notices regarding his share trading during the period 13 January 2015 to 3 July 2015. Mr Holt was a director and executive chairman of Optiscan Imaging Limited between February 2009 and July 2015.…

March 19, 2017 BY LeapRate Staff

Forex Industry Week Review: CySEC toughens on bonuses, EZTrader raises $3.5M, Stan Wawrinka ad debut, and lots more…

Some of our most popular, shared and commented-on posts this week in Forex Industry News at LeapRate included: CySEC gets tougher on bonus schemes, banning referral payments, trading competitions, and cash rebates. Cyprus financial regulator CySEC has issued an information circular, providing what it calls “additional guidance” to CIF licensed brokers on the types of bonus…

March 17, 2017 BY LeapRate Staff

CySEC suspends license of forex broker BoursePro due to "Persons who effectively direct the business"

Cyprus financial regulator ended the week by issuing a temporary suspension of the CIF license of forex and binary options brokerage group Boursotrade Ltd. Boursotrade operates several brands including BourseBinary (binary options) and BoursePro (retail forex). CySEC's stated reasons for the suspension included non-compliance with: Persons who effectively direct the business of a CIF, and Capital…