FX volumes rose 44% in Q2 at Russia's largest public trading market. Moscow Exchange reported its Q2 financial results and trading volumes, both of which increased nicely. The exchange reported revenues of RUB 6.3 billion ($189 million) in Q2, up 14% from Q1 and 21% from last year's Q2. On the volume side of the…
Read moreIn its first financial report since its IPO in July, Plus500 sees its shares barely react, trading up 0.6%. CFD broker Plus500 has reported its first financial results as a public company, and they were (in our view) quite impressive. Virtually everything at Plus500 -- Revenues, EBITDA, Net Income, Revenue-per-Client (ARPU) -- showed a large…
Read moreMerger of BATS and Direct Edge creates the second largest US equity exchange by volume. With volumes and margins dropping in US equity trading, it comes as no surprise that we're seeing consolidation in the equity exchange business. And as such the newly-announced merger of BATS and Direct Edge isn't quite shocking. What did come…
Read moreMMA CEO Malik Noureed Awan brazenly claims 'I am really enjoying all this free publicity'. Some follow-up notes to our exclusive coverage of the shutdown of Dubai retail forex broker MMA Forex.... 1) Contact. Calls to all of the 'Contact Us' telephone numbers at MMA Forex (as listed on their website) yielded some strange results.…
Read moreAndrey Dashin's two companies, forex brokers ForexTime and Alpari, look to go more head-to-head for new business. It was bound to happen sooner or later.... LeapRate has learned that Cyprus-based forex broker ForexTime has opened its first office outside the island, with the initiation of a new rep office in London. Normally, this would not…
Read moreSame old story, client funds used to repay old investors and to pay personal expenses. The CFTC has obtained a federal court order against Sidney J. Charles, Jr. and his Company, The Borrowing Station, requiring both to pay more than $600,000 following the discovery of a forex ponzi scheme run by Charles -- $254,000 to…
Read moreMMA Forex's offices shut by Dubai Police based on fraud allegations. LeapRate has learned that Dubai based Forex broker MMA Forex, run by Pakistani businessman Malik Noureed Awan, has been shut down by Dubai police after several hundred MMA clients were unable to withdraw money from their accounts. MMA claims to be doing about $20 billion of…
Read moreMarks a major victory for Cyprus forex brokers. LEAPRATE EXCLUSIVE..... BREAKING FOREX NEWS.... Great news heading into the weekend for Cyprus forex brokers. LeapRate has learned that Cyprus' financial regulator CySEC has fully revered its previous, controversial position which required Cyprus forex brokers to provide very onerous disclosure regarding their operations in non-EU countries. In…
Read moreHowever FXCM did not say whether or not any sort of investment in or acquisition of Infinium was imminent. After a Wall Street Journal article reported that leading forex broker FXCM was in talks to to invest in Infinium Capital Management LLC, a Chicago-based struggling high-frequency trading firm, FXCM decided to post a quick comment confirming…
Read moreLCG revenues were actually down from last year, at a time when industry revenues were up nicely. UK spreadbetting and CFDs broker London Capital Group (or "LCG"), which operates the Capital Spreads and ProSpreads brands, announced disappointing first half 2013 results, which sent its stock (LSE:LCG) tumbling by more than 10% on Thursday. LCG's revenues…
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