Another instance of an unregulated forex broker using the trade name of a regulated entity. Cyprus financial regulator CySEC has sent out a release warning investors against Depaho FX, and their website www.depahofx.com, stating that they are not and have never been licensed by CySEC. On Depaho's website the company claims to be based in…
Read moreBoth Forex.com (retail) and GTX (institutional) saw rising volumes in August, though still below Jan-Jun metrics. After seeing August volumes drop by 20%, US forex broker Gain Capital did see some improvement in September, as overall forex trading volumes rose 4% to $409 billion -- $130 billion at Forex.com and $279 billion at Gain GTX.…
Read moreRepresents one of the largest fines ever doled out by CySEC to an individual. We've become somewhat used to the multi-million dollar fines for wrongdoing handed out by US regulator CFTC, so an EUR 100,000 ($135,000) fine doesn't seem too weighty. But it certainly is, when handed out by Cyprus financial regulator CySEC. CySEC announced…
Read moreTwitter now being valued at between $17-$18 billion, well above the $11 billion figure when the Twitter IPO was announced. Quick update on one of the more interesting stories we've been covering lately, that of Twitter's upcoming IPO. As we wrote earlier, some enterprising forex brokers in the UK -- namely ETX Capital and IG.com --…
Read moreClarification to yesterday's story on FXCM's investment in commodities market maker Infinium Capital. Small clarification to yesterday's announcement by FXCM that it had purchased a $12 million note issued by commodities market maker Infinium Capital. This might just be a small nuance, but LeapRate has learned that FXCM purchased the already-existing note from Infinium investors,…
Read moreOptionFair brings to six the number of licensed binary options brokers in Cyprus. LeapRate has learned that binary option broker OptionFair has just received its CySEC CIF license, making it the sixth binary options broker to successfully get through CySEC. The license was actually granted to OptionFair's parent company, B.O. Tradefinancials Ltd., which is also…
Read moreBoom and bust software mogul and ex-billionaire Erik Damgaard has his eyes set now on the Forex world. LeapRate Exclusive... One of Denmark's most colorful businessmen is now looking to become a player in FX platforms. LeapRate has learned that Straticator, a Spain and Denmark-based software startup co-founded by Erik Damgaard, has developed a new…
Read moreMonex Indonesia had previously received a CySEC license, but apparently decided to launch in the UK instead. Not to be confused with Japanese forex broker Monex Group (which also owns US-based IBFX and TradeStation), Monex Indonesia has set up a UK subsidiary -- Monex Capital -- gained an FCA license, hired a team of ex-CMC…
Read moreRussia forex volumes have been strong this year – will this latest move lead to more volatility? One of the fastest growing FX markets of 2013 has certainly been Russia, leading to one month after another of record forex trading volumes for Russia FX market leader Alpari. (LeapRate estimates that Alpari has an approximate 40% market…
Read moreClearVision tools allow brokers to deal with multiple trading platforms, liquidity providers, back office systems and risk books. Institutional FX broker CFH Clearing has announced the launch of a new suite of products called ClearVision, aimed at providing brokers with a combination of Prime of Prime interbank liquidity and state of the art, sophisticated trading technology.…
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