FCA regulated retail forex broker Hantec Markets has issued a note to clients outlining increases in margin requirements ahead of next week's UK Brexit referendum, announcing minimum 4% margin requirement (max leverage 25x) starting next week until a day after the Brexit vote. The note set out by Hantec reads as follows: Dear Valued Client,…
Read moreAfter initiating a planned two-stage hike in margin requirements for all GBP and EUR pairs ahead of next week's Brexit referendum, as we have seen done at a number of leading Forex brokers, ASIC regulated Vantage FX has taken things a step further by setting less traded GBP and EUR pairs and some other instruments…
Read moreGlobal ECN broker Tickmill, regulated as a securities dealer by the Financial Services Authority (FSA) of Seychelles has informed its clients about upcoming changes to leverage and margin requirement ahead of the EU membership vote in the UK. Tickmill will lower the maximum leverage to 1:25 for all GBP pairs; 1:100 for all EUR pairs; and…
Read moreForex trading platform provider Spotware Systems today announced the support of Shariah compliant (Swap Free) accounts to all cTrader platforms. The functionality has been designed to meet all of the requirements of Shariah Law and the principles articulated for “Islamic finance”. The cTrader Swap Free account type is an attribute of a trading account and does not require the…
Read moreFollowing an investigation by UK financial regulator the Financial Conduct Authority (FCA), five people have been charged with operating a boiler room scam. The five people charged are: Michael Nascimento (DOB: 28/06/1977) Hugh Edwards (DOB: 13/07/1982) Stuart Rea (DOB: 12/02/1968) Ryan Parker (previously known as Ryan Sell DOB 26/11/1992), and Jeannine Lewis (DOB: 15/09/1967). All…
Read moreMultibank FX aggregation service FXSpotStream has reported that May volumes on its system averaged $16.1 billion (single count) daily, 10.7% below April's $18.0 billion but 26% more than last year May. FXSpotStream’s best-ever month was this past February, at $21 billion ADV. FXSpotStream is a wholly owned subsidiary of LiquidityMatch LLC (which is ultimately a bank owned…
Read moreCyprus financial regulator CySEC has issued a directive regarding remuneration policies and practices at CIF licensed companies, which include the many regulated retail forex and binary options brokers on the island. While not directing an outright ban on such practices, CySEC stated that certain types of remuneration seem to create a conflict of interest with clients,…
Read moreLeapRate Exclusive... LeapRate has learned that longtime Forex industry executive Ashraf Ebid has joined FCA regulated retail forex broker Global Market Index Limited (or GMI) as its new CEO. GMI was co-founded by Chinese entrepreneur Jeff Chao, who is the firm’s current President. GMI started its brokerage services in 2009 with a heavy focus on the Asia…
Read moreBrexit, Brexit, Brexit.... As next Thursday's vote gets closer and the outcome of the UK referendum still seems uncertain, it has been impossible to avoid the topic of Brexit in virtually every form of media. On this morning's FT.com home page alone you can read Blue-chips threaten Leave camp over logos, or Next steps after Brexit, How would…
Read moreFurther to our coverage of brokers in the retail forex sector requiring their clients to either ante up more margin or reduce leverage in their accounts ahead of next week's Brexit vote in the UK, Saxo Bank has posted specifics of new margin requirements for clients through to June 23 - and possibly beyond, depending…
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