January volumes were $427 billion, February volumes $368 billion at Saxo Bank. LeapRate Exclusive.... LeapRate has learned that leading global FX broker Saxo Bank, a member of LeapRate's Approved List of regulated global FX firms, greatly exceeded its 2012 average volumes during the first two months of 2013. January volumes jumped to average $19.4 billion…
Read moreWall Street Journal quotes LeapRate research in its article on Cyprus FX brokers and the bailout. First of all, we'd like to say that we're very proud that the Wall Street Journal decided to base its article on the fallout for Cyprus FX brokers on research and comments made by LeapRate Managing Director Gerald Segal.…
Read moreCFTC fines MXBK Group and its MBFX subsidiary for defrauding U.S. Forex customers. The CFTC has handed out one of its largest ever fines -- a $57 million whopper -- to Mexico-based MXBK Group and its FX brokerage subsidiary MBFX. The order found that MXBK and MBFX accepted at least $28 million from more than…
Read moreWill allow customers to invest their savings in a tax efficient manner. Saxo Capital Markets, the FSA-regulated UK arm of global FX brokerage firm Saxo Bank (a member of LeapRate's Approved List), has announced a Stocks & Shares ISA account in cooperation with ISA Manager European Pensions Management Limited. The Stocks & Shares ISA will…
Read moreSpeakers include FXCM CEO Drew Niv and Oanda CEO K Duker. A reminder to our readers, that Shift Forex's inaugural FXIC conference will be taking place tomorrow in New York City, at the Marriott Marquis hotel. For more information on speakers and the agenda, or if you'd like to register for the conference, please see…
Read moreFX trading volumes continue to surge in 2013, led by Japan, as a global "risk-on" trade environment continues. LeapRate's Retail FX Volume Index, sponsored by Leverate, moved up another 2% in February following an rise 18% in January, to $206 billion per day. February's index figure was the highest ever, setting an all-time record. The increase also…
Read moreCFTC sets $3.5 million in fines, Trimble used client money to gamble in Vegas. The CFTC has fined Colorado-based Nicholas Trimble and his two companies Capstone FX Quantitative Analysis Inc. and Beekeepers Fund Capital Management LLC a total of $3.5 million in a foreign currency fraud action. The order also permanently bans Trimble from engaging in any…
Read moreSaxo Bank co-CEO's comments question whether the 10% confiscation of client funds at Cyprus banks will also apply to Cyprus FX brokerages. Before we start (or contribute to an existing) panic among clients of Cyprus-based FX brokerages, we would like to state at the outset that we have been told directly by senior management at…
Read moreHotspot FX's first month above $30 billion since last June. Hotspot FX reported that volumes in its Forex ECN system rose by 11% in February over January levels, to average $30.1 billion daily. February 2013 was also 2% above Feb 2012's averages. The numbers from Hotspot FX basically match what we already seen from the other…
Read more.... but the US Retail FX market continues to be a shrinking one for most of the other NFA regulated brokers. The CFTC released its monthly figures for January on the US Retail FX sector, and while overall US client assets in the retail FX space increased by 3% over December, virtually the entire increase…
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