The company has been spared a huge fine in return for a commitment to get regulated Cypriot regulatory authority CySEC is on the move once again. The regulator has announced in a statement on its website that it is administrating a fine totaling 15,000 Euros on the company Zoompartners Ltd, which is behind the Zoomtrader…
Read moreTriennial survey by the Bank for International Settlements reveals more on retail forex industry, findings still questionable In its recently released Triennial Survey which was conducted between 2010 and 2013 the Bank for International Settlements has reported that April of 2013 was the month with the highest forex volume on record – $5.3 trillion dollars per day…
Read moreCyprus' Fin Min sees capital controls removed during 2014. In business, there are the things you can control and the things you can't control. While most of us in business spend time worrying about things we CAN control, it is often the other things which affect us most. Case in point -- this past Spring's…
Read moreChina to launch deposit insurance in Q1 as PBOC issues rules for deposit certificates trading Over the weekend Chinese magazine Caixun Century Weekly was cited by Marketwatch to publish information regarding the new steps that Chinese authorities are taking to liberalize deposit rates, which will ultimately lead to Renminbi convertibility. According to unnamed sources in the…
Read moreBubble theory confirmed for now as apparently it takes only two days to halve the value of digital investments Is this the end of it? Or will it rise again? Oh well, only the future will tell. For now the nail in the coffin was the unsurprising backtrack of Baidu from previously accepting the digital…
Read moreFX traders expressed their doubts about the ability of SEFs to handle CFTC's procedures properly In an extensive piece today titled ‘SEFs battle with confirmations after CFTC relief expiry’ Risk Magazine is analyzing extensively the market conditions surrounding the exemption period for SEF confirmation issuing, which expired on November 29th. It turns out that at present…
Read morePlus500 CEO Gal Haber hits the $500 million milestone, as Plus500 continues focus on the UK market. Had we mentioned to any of our readers six months ago that CFD broker Plus500 was really worth $1 billion, we likely would have been laughed at. Well, it doesn't seem like a joke any more. With its…
Read more84 customers affected by the company's misleading statements on leveraged and inverse ETFs The Financial Industry Regulatory Authority (FINRA) has made an announcement today that it has mandated Atlanta-based brokerage J.P. Turner to pay back $707,559 to 84 customers who were sold leveraged and inverse exchange traded funds (ETFs) plus for excessive mutual fund switches.…
Read morePrices slump $300 from recent highs around mid $1200’s following the announcement The digital currency has been on a tear for the past couple of hours after the PBOC has announced at 08:00 GMT that it is forbidding financial institutions in the country to handle Bitcoin transactions. The announcement is coming only days after deputy…
Read moreFX Concepts bankrupt, Parker Global Currency Managers Index down 5% YTD Recent slump in volumes on the institutional front might just have a solid fundamental explanation. Two words – poor performance. The Wall Street Journal has reported yesterday that FX markets participants might be willing to forget 2013 as the market has proven too difficult…
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