Banks cornered after London fixing investigations shrink FX trader talent pool LeapRate

February 24, 2014 BY Gerald Segal

Banks cornered after London fixing investigations shrink FX trader talent pool

In the meantime UBS is seeking lenience in FX manipulation investigation (again) Recent weeks will most certainly remain in history for most professional FX traders, as the number of suspended/fired traders has been ever growing and the FX manipulation investigation is on the minds of worldwide regulators. There is one more angle that hasn't been touched…

February 24, 2014 BY Gerald Segal

EU seeks power to revive a scaled back Transaction Tax

Another opportunity for the UK to solidify its position as the European financial center As a coalition of 11 Euro Zone member countries is struggling to introduce a new levy on financial products transactions and it is becoming increasingly clear that the division on the issue is more widespread than originally thought. While The Netherlands, UK, Sweden…

February 24, 2014 BY Gerald Segal

Oanda targets China, adds Chinese support to fxTrade Mobile

51% of account logins at the leading Canadian brokerage are coming from mobile devices Leading Canadian pioneering brokerage Oanda has announced last week the Chinese localization of its mobile trading platform fxTrade Mobile across iOS and Android. The platform is already established as one of the best in the mobile trading space providing an intuitive…

February 24, 2014 BY Gerald Segal

Leverate Gains Foothold in China

The company will hold seminars in Shanghai and Beijing to further expand its presence in mainland China Leading broker technology provider Leverate has issued a press release outlining recent developments for the company on the Chinese market. Leverate’s Head of Marketing Remy Rosenbaum states that since the opening of the firm’s office in Hong Kong…

February 21, 2014 BY Gerald Segal

Bitcoin prices on Mt Gox briefly drop below the $100 mark

Post Silk Road closure rebound levels are the new normal… at least on the Japanese exchange Yesterday’s vague statement by Mt Gox that has fully discouraged Bitcoin traders on the Japanese exchange has triggered somewhat of a capitulation on the Bitcoin market. Prices have tanked just above post Silk Road closure levels around $91.50 and…

February 21, 2014 BY Gerald Segal

Lucera launches as low-latency infrastructure provider for high frequency FX trading

FX liquidity aggregator FXOne and a binary options platform have already tested the company’s offering Last April a team of 11 engineers, alongside with Jacob Loveless have parted with their former employer Cantor Fitzgerald to form a new enterprise – Lucera. The team was responsible for the high-frequency trading division at the private investment bank…

February 21, 2014 BY Gerald Segal

CFTC on the move: revoking registration of two forex related fraudsters

Veruus Wealth Management registration suspended, Arista LLC and Abdul Walji are next According to a CFTC press release the regulator has revoked registration of Colorado-based forex company Veruus Wealth Management LLC as it confirmed that the company engaged in civil theft and conversion of investments in a managed forex trading account. A Denver court has…

February 20, 2014 BY Gerald Segal

AvaTrade launches Hush Trade premium education site

The goal: more profitable traders and increased revenue per client Leading Ireland-based forex broker AvaTrade, a member of LeapRate's list of approved FX firms, has announced the launch of its new website www.hushtrade.com. The project is aiming to introduce educational content for existing and novice traders related to the various quirks of the financial markets.…

February 20, 2014 BY Gerald Segal

CFTC to repeal registration of Introducing Broker iFinix Futures

The regulatory action comes as the company failed to maintain adequate capital and tried to cover it up New York based independent introducing brokerage iFinix Futures is in trouble after the latest press release by the US CFTC details that the regulator is looking to suspend the firm’s license. The company has already been fined…

February 20, 2014 BY Gerald Segal

More forex trader suspensions, this time at RBS

FCA unlikely to go public with its investigation findings before 2015 The Royal Bank of Scotland has announced the suspension of yet another forex trader and unsurprisingly, it is most likely related to the ongoing 4 pm fix investigation. The FX fixings scandal that has engulfed the forex market in recent months is taking another…