Gerald Segal
LeapRate Analyst
February 20, 2014 BY Gerald Segal

LeapRate Forex Fraud Watch – Ron McCullough and David Mayhew charged for misappropriating $1.6 million

Fraudsters solicited $2.3 million for forex trading from 11 individuals The CFTC has issued a press release detailing their latest enforcement action against Ron Earl McCullough and David Christopher Mayhew. The complaint filed by the regulator alleges that both have fraudulently solicited about $2.3 million from 11 investors and have subsequently misappropriated $1.6 million of…

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February 20, 2014 BY Gerald Segal

Hopes for Bitcoin withdrawals from Mt Gox dashed to pieces

Bitcoin prices on the Japanese exchange are diving to $140 as the promised update by Thursday is delayed We hope that you haven’t been amongst those unfortunate souls that were waiting for the promised announcement of Mt Gox related to the suspended withdrawals from the exchange. Unfortunately the news aren’t any good. The company has…

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February 20, 2014 BY Gerald Segal

Malta’s MFSA calls out ABFX for claiming it is regulated

Alarmingly the website of ABFX seems to be “under construction”. The Maltese regulator MFSA (Malta Financial Services Authority) has issued a press release outlining that an unregulated forex broker has been operating fraudulently claiming that it is licensed for providing investment services on the island. The entity has been operating under the names ABFX Ltd…

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February 20, 2014 BY Gerald Segal

Saxo launches futures spread trading

The new tool offering is appealing for longer term trend traders, eliminates roll-over charges Leading European forex and CFD brokerage Saxo Bank has announced that is expanding its offerings with an exotic product – futures spread trading. Starting this week the clients of the firm will be able to trade futures spreads on a variety…

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February 20, 2014 BY Gerald Segal

Plus500 shares rise 28% after preliminary results for 2013

New campaign for increasing brand awareness could put pressure on costs in the short term The preliminary report for 2013 that the publicly listed CFD broker Plus500 (LON:PLUS) has released yesterday, have caused quite a dramatic share prices spike in London trading. The main points that we already outlined were the revenue doubling over 2012 (even…

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February 19, 2014 BY Gerald Segal

CME looks to Australia ASX hookup to build Far East derivatives presence

Offering of OTC derivatives clearing in Asia Pacific on the radar for the CME Group The Chicago Mercantile Exchange (NASDAQ:CME) is looking to partner up with the Australian Securities Exchange’s division ASX Clear in order to form a partnership that offers clearing services for OTC derivatives to Australian brokers, as the American company is looking to…

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February 19, 2014 BY Gerald Segal

Plus500 reports revenues growing 105% in 2013 to $115.1 million

Q4 revenues alone are totaling just over $50 million compared to $20 million in Q3 One of the leading publicly traded brokerages listed in the UK, Plus500 (LON:PLUS) has reported its preliminary results for 2013 and the numbers are staggering. Revenues at the company increased by 105% year-on-year to $115.1 million, while net profits almost…

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