After Libor and Euribor, recent FX rates manipulation probes, EU regulators seem to be toughening up Over the weekend German financial regulator BaFin has announced that it would be in the interest of the financial markets to conduct a thorough reform to the setting of financial markets benchmarks such as Libor. Chief Executive Director Raimund…
Read moreSeveral leading retail forex brokers are actively adding binaries to their menu of tradable products Fresh out of the box: FXDD now starts offering binary options trading through an agreement with binary platform provider SpotOption. The platform to provide the brokerage’s clients with the new service is called Spot Binary Trader, which is a web…
Read moreSenen Pousa and Investment Intelligence Corporation defrauded over 960 clients worldwide The US Commodity Futures trading Coomision has obtained a court order against defendants Senen Pousa and Investment Intelligence Corporation (IIC) for the payment of $192 million in relation to their forex fraud scheme that caused over 960 of their customers worldwide to lose their…
Read moreThe company has been spared a huge fine in return for a commitment to get regulated Cypriot regulatory authority CySEC is on the move once again. The regulator has announced in a statement on its website that it is administrating a fine totaling 15,000 Euros on the company Zoompartners Ltd, which is behind the Zoomtrader…
Read moreTriennial survey by the Bank for International Settlements reveals more on retail forex industry, findings still questionable In its recently released Triennial Survey which was conducted between 2010 and 2013 the Bank for International Settlements has reported that April of 2013 was the month with the highest forex volume on record – $5.3 trillion dollars per day…
Read moreCyprus' Fin Min sees capital controls removed during 2014. In business, there are the things you can control and the things you can't control. While most of us in business spend time worrying about things we CAN control, it is often the other things which affect us most. Case in point -- this past Spring's…
Read moreChina to launch deposit insurance in Q1 as PBOC issues rules for deposit certificates trading Over the weekend Chinese magazine Caixun Century Weekly was cited by Marketwatch to publish information regarding the new steps that Chinese authorities are taking to liberalize deposit rates, which will ultimately lead to Renminbi convertibility. According to unnamed sources in the…
Read moreBubble theory confirmed for now as apparently it takes only two days to halve the value of digital investments Is this the end of it? Or will it rise again? Oh well, only the future will tell. For now the nail in the coffin was the unsurprising backtrack of Baidu from previously accepting the digital…
Read moreFX traders expressed their doubts about the ability of SEFs to handle CFTC's procedures properly In an extensive piece today titled ‘SEFs battle with confirmations after CFTC relief expiry’ Risk Magazine is analyzing extensively the market conditions surrounding the exemption period for SEF confirmation issuing, which expired on November 29th. It turns out that at present…
Read morePlus500 CEO Gal Haber hits the $500 million milestone, as Plus500 continues focus on the UK market. Had we mentioned to any of our readers six months ago that CFD broker Plus500 was really worth $1 billion, we likely would have been laughed at. Well, it doesn't seem like a joke any more. With its…
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