August 13, 2016 BY Mike Fox

Interactive Brokers to discontinue Forex margin trading for U.S. retail traders

Some late breaking news into the weekend as we found out that Interactive Brokers Group, Inc (NASDAQ: IBKR) has sent alerts to clients informing them of an update in their service plans for U.S. based Forex traders with the company. It looks like Interactive Brokers will restrict margin FX trading only to "Eligible Contract Participants", meaning those with…

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August 12, 2016 BY Mike Fox

FinCEN issues final due diligence rules and AML procedures for FCMs and IBs

The Financial Crimes Enforcement Network (FinCEN) today issued final rules relating to customer due diligence requirements that are applicable to futures commission merchant (FCM) and introducing broker (IB) Members. Under the new rules, FCM and IB Members will be required to identify and verify the identity of beneficial owners of legal entity customers. The final…

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August 12, 2016 BY Mike Fox

Jersey and Liechtenstein’s financial regulators sign MoU

The Jersey Financial Services Commission (JFSC) signed a Memorandum of Understanding (MoU) with the Liechtenstein Financial Market Authority (FMA) on 11 August 2016, which puts in place a formal mechanism to enable the regulatory authorities to co-operate on supervisory matters, exchange information and apply oversight of regulated firms in order to maintain the stability and…

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August 12, 2016 BY Mike Fox

Beta testing begins as TradingView to support OANDA

TradingView, the Chicago based advanced financial visualization platform today announced that it is continuing ramping up and adding more brokers. This time it’s well-known FX broker OANDA that you can trade with. TradingView went live with support for FXCM earlier in August, after LeapRate broke news earlier in the year that FXCM would be the first broker to…

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August 12, 2016 BY Valentina Kirilova

ItzCash joins RBL Bank for platinum Rupay prepaid wallet in India

India’s digital payments company ItzCash has announced that it has partnered with RBL Bank to launch the country’s first co-branded Rupay Platinum Prepaid Card. Rupay Platinum Prepaid Card is a multi-purpose prepaid wallet powered by the homegrown digital payments facilitator RuPay, will roll out a suite of prepaid services across physical and virtual platforms. Offering a compelling alternative…

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August 12, 2016 BY Valentina Kirilova

Alpari’s Forex turnover marks 3% MoM rise in July 2016

Retail FX broker Alpari Limited has earlier today reported its operating metrics for July 2016, with the month bringing a slight rise in trading volumes in both monthly and annual terms. The company reported monthly turnover of $81.4 billion in July 2016, up 3% from June 2016 when the monthly trading volumes amounted to $79 billion. EUR/USD remained…

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August 12, 2016 BY Valentina Kirilova

SEC charges stockbroker and friend with insider trading

The Securities and Exchange Commission (SEC) has charged a stockbroker and his friend with participating in an insider trading scheme to profit in advance of two major announcements out of a pharmaceutical company. The SEC alleges that Paul T. Rampoldi coordinated the insider trading with two other brokers at his firm as well as a then-IT executive…

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August 12, 2016 BY Valentina Kirilova

CIF Xenon Capital Partners Ltd remains under the supervision of the CySEC

The Cyprus Securities and Exchange Commission (CySEC) has announced that, on June 24, 2016, the CIF Xenon Capital Partners Ltd, which provided investment services via the domain xenoncp.com.cy, renounced its authorization pursuant to section 24(1)(b) of the Investment Services and Activities and Regulated Markets Law of 2007, as in force (the ‘Law’). Therefore, the CIF…

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