It 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…
Read moreFX trading volumes still strong in March, but take a bit of a breather after a rapid start to the year. LeapRate's Retail FX Volume Index, sponsored by Leverate, fell back somewhat to $196 billion per day in March, down 5% from February's record $206 billion. The drop was not unexpected, following a very hot start to…
Read moreFXPN provides affiliate marketers with tools, across a variety of brokers. Leverate's FXPN affiliate marketer network has added Saxo Capital Markets -- Saxo Bank's Cyprus based MT4 broker, formerly known as ForexTrading.com -- to its list of brokers supporting FXPN. FXPN (FX Partners Network) gives affiliates such as IBs a wide variety of brands to promote using…
Read moreLeading Ireland-based FX broker undergoes major rebranding as it branches out from FX. AvaFX, a member of LeapRate's Approved List of global regulated FX brokers, has announced a major rebranding, and will now operate as AvaTrade. The rebranding includes a new website at www.avatrade.com. AvaTrade also released its trading volumes for the year 2012, coming…
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