Gain Capital management has succeeded, it seems, in scaring off FXCM by using its cash to buy GFT. When we first reported that Gain Capital was buying GFT and rejecting FXCM's hostile bid, we stated that there were two likely outcomes. Either FXCM (along with certain Gain Capital shareholders, wanting a sale of the company)…
Read moreAudit by Deloitte certifies Leverate as exceeding banking standards in data security. Leverate, a leading provider of technology solutions for the Forex industry, has announced that they have completed an 18 month long audit project with Deloitte showing that they are certified as “ISAE 3402 Type II complaint and effective.” ISAE Level II demonstrates that Leverate…
Read moreEmboldened by much better Q1 results, Gain Capital (Forex.com) is going it alone. Well, it seems as if the letter written to the Gain Capital Board by shareholder Springhouse Capital -- warning Gain not to make any acquisitions or do anything else to ward off a takeover of Gain -- wasn't written in a vacuum.…
Read moreIt is beginning to look very unlikely that Gain (Forex.com) will survive as an independent company. In a very strongly worded letter to Gain's Board of Directors, Springhouse Capital urged that the Gain Board work to maximize value by pursuing a sale of the company -- by shopping it around to other potential buyers, and/or…
Read moreCyprus crisis -- What crisis??? FX brokers continue to look to operate out of Cyprus. [Correction dated May 1, 2013. As per our updated article, it was not Monex of Japan, but rather Monex of Indonesia -- an unrelated retail FX broker -- which received CySEC licensing. To see the corrected article click here]. LeapRate…
Read moreTradition's revenue numbers surprisingly decline in all areas but in Japan to open up 2013. Compagnie Financière Tradition (or "Tradition"), a leading interdealer broker which also owns stakes in retail FX firms FXDD (a member of LeapRate's Approved List of global regulated FX brokers) and Gaitame of Japan, reported their Q1 revenue results today, which…
Read moreInitially only binary bets on Bitcoin will be allowed. Will more Binary Options brokerages soon follow? IG Group, the largest UK spreadbetting company, is now offering Bitcoin binary options tradiing to their clients with an expiration of 31 May -- those who go long will "win" a specified amount if Bitcoins end up higher on…
Read moreThose trading equity indices using high leverage were closed out of positions on the way down. Tuesday's trading produced one of the oddest one-day price charts for the Dow Jones and S&P500 indices ever seen (see below). At about 1:07 EDT (New York time) an AP tweet stated "Breaking: Two Explosions in the White House and…
Read moreCFTC orders those named to pay $1.8M, and imposes permanent trading ban. The CFTC has ordered Timothy Bailey of Monroe, North Carolina and Michael Hudspeth of Statesville, North Carolina along with their company, PMC Strategy, LLC (PMC), to pay over $1.8 million for solicitation fraud and misappropriation in connection with an FX ponzi scheme that…
Read moreInvast Securities has doubled the number of Mirror Traders in the past nine months. Invast Securities, one of Japan's leading retail FX brokers, has reported a doubling of the number of active Mirror Traders. Invast launched Tradency's Mirror Trader in November 2011, and hit the 20,000 Mirror Trader client mark last July. Now they sit at…
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