FCA hints that criminal charges are coming; Asset Managers launching lawsuits. So far, the major fallout of the investigations launched by several national financial regulators into the rigging of the global currency market -- specifically into the way the daily 4pm cross currency fix is set -- has been limited to some bad press for…
Read moreMt Gox claims an 'increase in the flow of withdrawal requests has hindered our efforts on a technical level'. Leading Bitcoin exchange Mt Gox has (once again) halted Bitcoin withdrawals, after an increase in withdrawal requests led to (they claim) technical problems. Mt Gox had previously halted withdrawals several times, but quickly worked to have…
Read moreCanada's RBC Capital Markets sees Graeme King depart as co-head of FX spot trading. The revolving door continues to swing in the executive suites of major banks. Last week we reported on the departure of Anil Prasad, Citigroup Head of FX. Well the weekend has brought more changes, with Canada's largest bank RBC announcing that its co-head…
Read moreFXall's $123 billion ADV January included a $197 billion day, its highest tally ever. China volume record too. Looks like 2014 is getting off to a great start in the institutional forex world. After seeing ICAP's EBS platform climb 23% from December (although still well behind last year), Thomson Reuters' own Forex ECN platform as…
Read moreESMA particularly notes selling practices of complex financial products to retail clients. ESMA is continuing to throw its weight around, and establish itself as a to-be-taken-seriously pan-European rule setter in financial markets. What exactly is ESMA's role? While not technically a regulator -- each EU country has its own financial regulator (e.g. FCA in the UK,…
Read moreMonex had recently launched TradeStation in Japan, its first deployment outside the US and Europe. It seems as though the braintrust at Monex has big Far East plans for TradeStation, which it purchased in 2011 for more than $400 million. The Japanese forex broker has announced that its TradeStation platform will soon be available to Korean…
Read moreBVI cease trading order, funds frozen, kicked out of FMRRC, phones go unanswered.... LeapRate Exclusive... It seems as though retail forex broker 4XP is no longer operating, at least as far as money-in money-out is concerned. LeapRate has been contacted by (former) 4XP clients who have been unable to withdraw funds, a theme which we've…
Read moreRussia's leading exchange has been focusing on increasing its business with Far East traders and investors. Moscow Exchange has announced the launch of trading in the FinEx MSCI China UCITS ETF (ticker FXCN). The FXCN tracks the MSCI China Index, which comprises 138 Chinese securities. The fund's shares will be traded on Moscow Exchange's securities…
Read morePowerOption will be regulated by both CySEC (Cyprus) and ASIC (Australia). Ireland based retail forex broker AvaTrade has just launched its own Binary Options brand, called PowerOption. PowerOption will be based on the MarketPulse platform. AvaTrade had previously worked with Marketpulse on its Japanese binary platform, although that business had to be halted when the…
Read moreOverall, FxPro SuperTrader strategies have shown an average annualized return of 23%. Retail forex broker FxPro is pouring much of its efforts and marketing budget lately into promoting its proprietary version of social and copy trading called SuperTrader, with the results being pretty good so far. As an STP broker, FxPro is heavily incentivized to…
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