Saxo Bank goes social for launch of TradingFloor social trading – more than 100 Tweets! LeapRate

January 31, 2014 BY Gerald Segal

Saxo Bank goes social for launch of TradingFloor social trading – more than 100 Tweets!

More and more information is getting to clients via distributed social networks. We covered last week the launch of Saxo Bank's social trading platform TradingFloor.com, which was actually a rebranding of Saxo's existing research and information site into a social one. What we found interesting over the following few days was the social media blitz…

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January 31, 2014 BY Gerald Segal

XM.com Contest Arena – gambling or trading?

Will regulators allow organized contests (i.e. bets) between clients of forex brokers? We often wonder where are the regulatory borders of legality in binary options. Should they be treated as a financial product (as does Cyprus' CySEC and Malta's MFSA), or should they be regulated by gaming commissions (as in the UK)? We take no…

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January 30, 2014 BY Gerald Segal

Dragon Options is latest binary options broker to get a CySEC CIF license

Dragon Options runs on the SpotOption platform, focus on Russian market. Cyprus' financial regulator CySEC has issued its latest CIF license to a binary options broker, Dragon Options. Dragon Options is one of the Cyprus-based binary options brokers which was given a window of time to 'get licensed', after CySEC decided nearly two years ago…

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January 30, 2014 BY Gerald Segal

Gain Capital sees Lebanese businessman Michel Daher begin to cash out of his GCAP position

Daher still owns 11% of Gain; he previously was a 10%+ shareholder and board member at rival FXCM. Lebanese businessman Michel Daher sure seems to know how to make money in Forex. But it is in trading the shares of Forex brokers, not in trading currencies. LeapRate has learned, via a series of filings with…

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January 30, 2014 BY Gerald Segal

Independent Scotland? – Not without its own currency!

Bank of England’s governor Mark Carney dashed hopes for an independent Scotland that uses the British Pound A couple of weeks after the Scottish independence currency question has resurfaced, our thesis that a currency union with the UK would undermine its ultimate goal of sovereignty has been confirmed by none other but the current governor…

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January 30, 2014 BY Gerald Segal

Alpari Russia reports revenues of $105 million for 2013

Volumes averaged $131.2B per month in trading volume in 2013. Russian brokerage powerhouse Alpari has revealed its key performance indicators for 2013. It is claiming to be the only company in the country to release internal figures to the public. The latest batch is rather impressive – Alpari Russia has announced in a press conference…

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January 30, 2014 BY Gerald Segal

LeapRate Forex Fraud Watch - Trader jailed four years for running a $1.5 million Ponzi scheme in New Zealand

Rene Alan Chalmers will spend 51 months in prison for funds misappropriation and misrepresentation of returns The New Zealand Herald is reporting on a substantial forex Ponzi scheme that was uncovered by the local Serious Fraud Office following complaints from investors with a self-made forex trader. Rene Alan Chalmers has defrauded his investors including family…

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January 29, 2014 BY Gerald Segal

Tradologic modifies its binary platform for the gaming industry

Tradologic's TRADINATOR will introduce 30 and 60 second binary trading terminals, which it calls ‘Financial Entertainment’ Well it is official. Binary Options have now crossed over into financial gambling. But this time it is by design. One of the leading binary options platform providers, Tradologic, has issued a press release detailing its new solution aimed at…

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January 29, 2014 BY Gerald Segal

FCA bans former BGC executive Anthony Verrier from the financial services industry

Verrier has previously worked for two active players in institutional forex UK regulator FCA has announced in a press release that the Authority has decided to permanently ban from the financial services industry Anthony Verrier who held a senior executive position at BCG Partners. According to the regulator there are serious concerns over Mr Verrier’s…

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January 29, 2014 BY Gerald Segal

Chinese Mr. Forex leaves his helm at SAFE to rejoin the private sector

Zhu Changhong oversaw diversification of SAFE’s assets, stepping away from substantial US dollar dependence The Financial Times has reported yesterday that one of the key brains behind the diversification strategy of Chinese FX reserves has left his position as top overseer at the Chinese State Administration of Foreign Exchnage (SAFE) to rejoin the private sector.…

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