Swissquote reports healthy Q2 profits at the corporate level as well, as clients and assets grew. Leading Swiss online brokerage Swissquote (a member of LeapRate's Approved List of global regulated Forex brokerage firms) announced today that FX volumes increased a whopping 37% during Q2, to average CHF 30.5 billion ($32 billion) per month, up from…
Read moreCME Gold options open interest hits 1,808,693 contracts on July 22. As Gold prices have recovered nicely from their sub-$1,200-per-ounce lows late last month, up more than 10% to the mid-$1,300's currently, interest in Gold trading has risen in step. The CME Group has reported that open interest levels in Gold options have now hit an…
Read moreJapan's Forex sector is on fire, driving record trading volumes and financial results for forex brokers. Monex Group of Japan, a mid-size Japanese forex broker which also owns TradeStation and IBFX in the US, reported Q2 results today which, as expected, showed healthy gains across the board in revenues, net profit, and client assets. Monex…
Read moreCedar Finance, based in Cyprus, claims to be in the process of obtaining a CySEC license. Binary options platform provider Tradologic has announced that it has added Cedar Finance, an existing binary options broker, as a new client using its binary options platform. Cedar has been around since 2011, operating using an independent platform. The…
Read moreSocial and copy trading going mainstream to help drive trading volumes at forex brokers. LeapRate Exclusive.... LeapRate has learned that UK-based forex broker youtradeFX has launched a new social trading service for clients, based on Leverate's Sirix social platform. youtradeFX was a traditional MT4 broker, which recently added Leverate's web trader platform, including the Sirix social…
Read morePlus500 IPO offering oversubscribed, size increased by 50%, share to begin trading Wed July 24. CFD broker Plus500 has completed a successful IPO roadshow, and increased the planned size of its offering by 50%, from $50 million to $75 million, at a company valuation of $200 million. The company's shares will begin trading this coming…
Read moreTeam Saxo-Tinkoff riders Alberto Contador and Roman Kreuziger place fourth and fifth in the Individual Tour standings. In a much more lighthearted note than our usual Forex news items, we would like to congratulate our friends at Saxo Bank on their Team Saxo-Tinkoff's Team classification victory in the 2013 Tour de France completed yesterday. Team Saxo-Tinkoff…
Read moreFMA believes that information on the FX Promax website is fictitious. New Zealand's financial regulator FMA has issued a warning against Forex broker FX Promax Limited, and its website at FXpromaxltd.com. According to the FMA, the Forex brokerage operating at the website FXpromaxltd.com is representing itself as being based at 350 Queen Street in Auckland, and as…
Read moreStock market continues to like shares of Forex brokers. As the equity markets in the US continue to set new highs, shares of publicly traded Forex brokers have not been left behind. For the first time since going public in December 2010 (for $14 per share), FXCM saw its share price briefly hit $17 on…
Read moreDodd-Frank exception for SEC registered broker dealers was to expire July 16, 2013. The SEC has quietly extended by three years the exception provided to broker dealers to engage in what it terms 'retail forex transactions'. By the straight Dodd-Frank Act rules, all broker dealers in the U.S. were to cease Forex transactions with retail…
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