September 01, 2016 BY LeapRate Staff

Hong Kong SFC warns against clone of Wealth Management Group

Hong Kong financial regulator SFC has issued a warning regarding a clone website of SFC-licensed Wealth Management Group Limited. The clone website wmgltd.com shows what the SFC says is an invalid address at 2345, 26 Harbour Road, Wan Chai, Hong Kong. The real Wealth Management Group Limited is located at 3001A, 30/F, 118 Connaught Road West, Hong Kong, and operates…

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September 01, 2016 BY LeapRate Staff

FXCM Pro added as new institutional liquidity provider for MetaTrader 5

MetaQuotes Software, developer of the popular MT4 and MT5 trading platform, has announced that its MetaTrader 5 trading platform has been integrated with FXCM Pro, the institutional Forex and CFD liquidity provider division of FXCM Inc (NYSE:FXCM). Brokers, institutional investors and professional traders using MT5 can now benefit from trade execution on Forex and CFD markets…

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September 01, 2016 BY LeapRate Staff

Paysafe pays $30M to acquire Montreal based affiliate technology provider Income Access

Digital payment solutions provider Paysafe Group Plc (LSE:PAYS), which operates the NETELLER and Skrill online payment brands, has announced that it is acquiring Montreal, Canada based affiliate technology provider Income Access Group. Paysafe will be paying cash consideration of CAD $40 million (approximately USD $30 million), part of which is deferred over an 18 month period.…

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September 01, 2016 BY LeapRate Staff

Hotspot FX has second slowest month since 2012, August volumes at $22.6B ADV

It looks like August was a very slow month for forex trading. Following our earlier reports about August volume declines at competitors GTX and FastMatch, institutional eFX venue Hotspot FX, a division of Bats Global Markets Inc (BATS:BATS), has reported that August 2016 volumes averaged $22.6 billion daily, down 14% from July’s $26.2 billion. The $22.6B figure is the…

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September 01, 2016 BY LeapRate Staff

FastMatch FX volumes drop 20% in August to $10.3 billion ADV

Beginning what we believe will be a series of fairly slow August trading volume reports by both retail and institutional Forex platforms, Forex ECN FastMatch is reporting that volumes in its system fell 20% MoM from July, to average $10.3 billion ADV for the month - August being its slowest month so far in 2016. We'd remind LeapRate…

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September 01, 2016 BY LeapRate Staff

Gain Capital’s GTX August FX volumes down 5% to $9.7 billion ADV

GTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported that August FX volumes decreased by 5% YoY and by 9% MoM from July levels, coming in at $9.7 billion ADV. ECN and SEF trading at GTX saw volumes average $6.5 billion daily during August, down 21% from July. GTX’s swap…

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September 01, 2016 BY LeapRate Staff

ASIC cancels license of IMS FX after omission of plans to sell the company

Australia financial regulator ASIC announced that it has won an Administrative Appeals Tribunal hearing against Retail Forex broker IMS FX Services Pty Ltd, allowing ASIC to make public its cancellation of IMF FX's regulatory license. The cancellation actually happened back in February, but was kept quiet under a confidentiality appeal by IMS FX. The Administrative Appeals Tribunal has…

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August 31, 2016 BY Mike Fox

Currencycloud signs partnership with Crédit Mutuel Arkéa

Currencycloud, the international Payments Engine behind countless financial firms, announces a new partnership with Arkéa Banking Services, a subsidiary of Credit Mutuel Arkea. Through the partnership, Currencycloud will offer Euro bank accounts to its clients as well as have direct access to European payments systems. Currencycloud’s clients will benefit from faster payments and massively improved…

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