US Retail Forex brokers saw client assets on deposit drop for a third consecutive month in June, based on just-released data from the CFTC. Overall, Retail FX accounts at US regulated brokers totaled $561.1 million as at June 30 - down 1.4% from May and the second lowest figure ever. The lowest point since record keeping…
Read moreThe CFTC today issued an order requiring a unit of Morgan Stanley (NYSE:MS) to pay a $300,000 civil monetary penalty for failing to hold sufficient U.S. Dollars in segregated accounts in the United States to meet all of its U.S. Dollar obligations to cleared swaps customers. The Order also finds that the firm failed to implement…
Read moreWall Street can be a very strange and fickle place. After disappointing investors with a Q2 loss of $9 million, it looks like traders chose to focus on revenue growth at Gain Capital Holdings Inc (NYSE:GCAP), sending its shares up more than 5% in Thursday action. Gain attributed its loss to 'unusually adverse trading conditions across indices,…
Read moreDenmark-based forex broker Saxo Bank has made its second major personnel move of the week, again going outside the organization for talent. And again, in a newly-created role. After adding Danske Bank's Soren Kyhl as COO (and possibly heir apparent to the CEO role), Saxo Bank today announced it has gone outside the organization (and…
Read moreCyprus financial regulator CySEC has made an announcement that it is conducting an ongoing investigation into IronFX, after receiving an increased number of complaints against the company. No determinations have been made at this point, with CySEC stating that it will publish its findings in due course. We believe that this is standard procedure for…
Read moreAustralia's financial regulator ASIC has released its enforcement report for the first half of 2015, noting it has been very busy bringing a total of 323 enforcement actions during the six month period. ASIC made special mention of its crackdown this year on the Retail Forex sector, taking close notice of changes in control of…
Read moreRetail forex broker FXCM Inc. (NYSE:FXCM) has announced a special meeting of shareholders to be held September 21, 2015. The sole purpose of the meeting is to approve the company's plan to effect a 1:10 reverse stock split - meaning shareholders would receive just one share post split for every 10 shares they now own. Only…
Read moreThe USDCAD is clearly trading in tandem with crude. But Canada's economy is a lot more than oil. Is this a prime buying opportunity for Canadian Dollar bulls?
Read moreWe might just finally be seeing Saxo Bank's CEO succession plan. It is no industry secret that Saxo Bank Co-founders and Co-CEOs Kim Fournais and Lars Seier Christensen - who are about as hands-on as long-term founders can be - would like to take a step back at some point and bring in a new generation of younger management at…
Read moreJapanese online trading broker Monex Group, Inc. (TYO:8698) has announced that it has been 40% successful in its planned share buyback. The company has spent ¥647.5 million ($5.2 million) to buy back 1.98 million of its own shares in the open market, in transactions which took place between July 10 and July 31. Monex recently…
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