FXCM already has a strong balance sheet with over $400 million in cash. Leading forex broker FXCM (NYSE:FXCM) announced today that it has extended its $155 million credit facility by $50 million to $205 million -- and under certain circumstances it can be further extended to $250 million. The maturity of the facility was extended…
Read moreNew Zealand based brokerage opens a new office in London, aims to further expand into Europe True ECN brokerage FX Open, hailing all the way from New Zealand, becomes the latest to open a UK office. With the announcement today that it has opened its first physical office in London, the company aims to explore…
Read moreThe Swiss company claims that the new feature will be very useful for professional traders The Swiss company Olfa Trade, which has developed the ECN solution Seamless FX, is introducing a brand new feature to its platform. They call it the “Smartpad” and according to the company traders will be very pleased with this new…
Read moreIn the wake of forex rates manipulation investigations, senior management patience runs thin Following our report last week that several pairs were affected in the alleged currency rates manipulation of the 4 pm fix.Some new information was sourced in a report by Reuters titled "Banks consider ban on chat rooms after rigging probe" shed light on…
Read moreWhat the CME called a 'cyber intrusion' occurred in July, and is the subject of an ongoing federal criminal investigation. Derivatives marketplace CME Group (NASDAQ:CME) confirmed in a communication to certain customers last week that its systems had been hacked back in July. Apparently, certain customer information relating to the CME ClearPort platform was compromised. To protect…
Read moreTurns out losses of about $115 mln NZD cost about 10 years and 10 months in prison time The New Zealand financial regulator NFA reports that David Ross has been sentenced to 10 years and 10 months in prison for executing the biggest ever fraud in New Zealand. He has lost about $115 mln NZD…
Read moreSteven Whelton has been appointed as interim replacement. FCA regulated UK brokerage London Capital Group announced in a press release that it has parted with its CFO Siobhan Moynihan. She has stepped down from the company’s board as of today (15th of November) and will be replaced temporary by Steven Whelton. Shares of the publicly traded parent…
Read moreThe New York based company makes (gradually) its beta platform open to the public The venture capital investors behind Coinsetter might be in for a small party. The forex trading platform based on Bitcoin has announced that it will be gradually opening its beta status to the public. Initially the process will roll out slowly…
Read moreOptionRally runs on the SpotOption platform. LeapRate has learned that binary options broker OptionRally has received its CySEC CIF license, making it now the seventh licensed binary options broker (list below). The license (CIF license # 220/13) was granted on November 7 to OptionRally's parent company Tifozi Investments Limited. OptionRally has had its run-ins with a…
Read moreStarting November 25 Alpari Russia will no longer support ZuluTrade. Alpari (Russia) has announced that they are breaking up with social and copy trading service provider ZuluTrade. All standard.zulutrade, ecn.zulutrade and ecn-new.zulutrade accounts at Alpari will be converted to MT4, tradable only through the MetaTrader 4 platform. Alpari clients who prefer automated trading will need, for the…
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