FXDD voluntarily withdraws as an IB in the United States LeapRate

February 02, 2015 BY Mike Fox

FXDD voluntarily withdraws as an IB in the United States

LeapRate Regulated List provider FXDD Global, a leader in international online FX trading, last Friday announced that its affiliate company FXDD U.S. has applied to the National Futures Association (NFA) to withdraw its introducing broker (IB) license in the United States, reflecting the brand’s focus on expanding its international operations and serving retail and institutional traders in…

February 02, 2015 BY Mike Fox

Forex Weekly Look Back: Forex 'Black Thursday' claims more as details continue to emerge, binary option platform provider set to go public in London

A look back at the most intriguing and popular Forex industry news stories from the past week at LeapRate. To make sure that you receive timely access to all LeapRate articles sign up to our Daily Forex Industry Newsletter on the right. → ThinkForex/FCA | https://www.leaprate.com/Ykaoq Cyprus Forex brokers | https://www.leaprate.com/6sC6x IC Markets | https://www.leaprate.com/2v2iC Boston…

February 01, 2015 BY Andrew Saks-McLeod

GFI Group shareholders do not approve proposed acquistion by CME Group

Preliminary results from the GFI shareholder meeting held on Friday morning in New York indicate that GFI shareholders did not approve the proposed merger. As a result, the parties each determined that terminating the merger agreement and related transactions was in the best interest of their respective companies and shareholders at this time

February 01, 2015 BY Andrew Saks-McLeod

Counting the true cost: FXCM Global Head of Dealing Eduard Yusupov's foreclosed shares sold for $2.4 million

FXCM Global Head of Dealing Eduard Yusupov had pledged 1.2 million units of FXCM Inc (NYSE:FXCM) stock with a broker as collateral on a margin loan facility. As a result of the events of January 15, the broker foreclosed on the collateral, which has now been sold for $2.43 million. Prior to January 15, this amount of FXCM shares would have been worth closer to $20 million

February 01, 2015 BY LeapRate Staff

FXCMPro sale update - price discussions now in $70-$90M range

LeapRate Exclusive... Following on our revelation late last week that FXCM is well along with the planned sale of its institutional FX brokerage arm FXCMPro, LeapRate has learned that the amounts being discussed are now somewhat lower than we originally reported. We have learned from sources close to the situation that although FXCM Inc (NYSE:FXCM)…

January 31, 2015 BY Maria Nikolova

Ban on credit card funding of US retail Forex accounts comes into force

As one of the most hectic months in the history of Forex draws to a close, LeapRate has decided to remind everyone that today witnesses an important change in the US regulations for funding of retail Forex and futures accounts. As of today – January 31, 2015, the ban on funding the accounts of retail…

January 30, 2015 BY Andrew Saks-McLeod

LeapRate TV Special: KPMG's confidential Alpari memorandum explained in detail

January 30, 2015 BY Mike Fox

India's BSE slashes fees in Forex derivatives battle with rival NSE

BSE Ltd. said the derivatives move was part of a strategy that accepted sacrificing potential profit margins to build volume, as it aims to become a more dominant player beyond it's traditional bread-and-butter equities trading business.

January 30, 2015 BY Maria Nikolova

Forex fraudster Alex Hope gets 7-year jail term

A landmark legal prosecution concluded today in the UK, as Alex Hope and his accomplice in investment fraudulent activities Raj Von Badlo (also known as Raj Shastri), were both sentenced to prison. Alex Hope will spend the next seven years in prison, the harshest punishment imposed following prosecution by the Financial Conduct Authority (FCA) or…

January 30, 2015 BY Maria Nikolova

KPMG confirms: Alpari UK's clients have to repay negative balances

The administrators from KPMG, who have been in charge of Alpari UK after the FX broker filed for insolvency less than two weeks ago, today issued a rather disappointing update for the clients of troubled company. In the announcement, dated January 30, 2015, the administrators say they are still in the process of analysing the…