Swissquote has set up an internal fund of CHF 100 million ($110 million) geared to potential acquisitions. It looks like Swissquote's appetite for acquisitions might not be sated with its takeover of rival Swiss forex broker MIG Bank. Swissquote (SWX:SQN) CEO Marc Burki was quoted in an interview in Swiss financial publication L'Agefi (and as reported…
Read moreJamie Coleman and Gerry Davies to jointly run new FXstreet research service. Forex information portal FXstreet has announced the launch of a new research service for traders called FXBeat. FXBeat will be a news and commentary feed conducted by Jamie Coleman and Gerry Davies, the analysts behind Forex Live and FXBriefs. The idea behind the new…
Read moreKCG Hotspot culminates an up month for all the major Forex ECNs. Hotspot FX, now formally known as KCG Hotspot, announced that September forex trading volumes came in at $28.7 billion daily, up slightly (3%) from August's $28.0 billion. Hotspot's figures complete our September picture in which all the major Forex ECNs -- ICAP EBS,…
Read moreFocus seems to be on chat room activity around the daily 4pm London fix. A report Friday by Bloomberg suggests that the US Justice Department and the FBI are conducting separate criminal probes into foreign currency rate market rigging by some of the world's biggest banks, around the daily 4pm fix of various currency pairs.…
Read moreLondon marks the binary options platform provider's tenth office worldwide. Binary platform provider Tradologic has announced the opening of a new office in London, as it expands sales generally in the EU. Tradologic now has offices in 10 locations worldwide, with London joining Sofia, Tel Aviv, Nicosia, Moscow, Singapore, Shanghai, Hong Kong, Tokyo, and Manila. UK…
Read moreAlpari Russia volumes hit $127 billion in September, rest-of-world $133 billion. After setting its best-ever volume record in August (normally a slow time!) at $280 billion, things cooled off somewhat at Alpari Group in September. Russia forex volumes dropped 5%, rest-of-world volumes fell 9%, leading to an overall -7% month for the leading forex broker.…
Read moreAnother 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 --…
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