So is it, or isn't it? Alpari UK has issued a new statement on its website, contradicting what it had itself posted on Friday. On Friday, Alpari UK indicated that it had entered insolvency following losses suffered in the Swiss Franc mega-move Thursday. Alpari UK's new statement (repeated below) on its website states that Alpari UK…
Read moreLiquidity and DMA pioneer Advanced Markets has issued a statement on the CHF market volatility. Advanced Markets has stated that it weathered the extreme market volatility late last week with only a few minor issues. Advanced Markets' official statement reads as follows: Advanced Markets Statement re CHF Volatility January 16, 2014--Advanced Markets, a provider of prime of…
Read moreAnother retail forex broker reporting on its post-Swiss Franc crisis position is Cyprus-based broker Markets.com. Markets.com is a subsidiary of CySEC-regulated Safecap Investments Limited, ultimately controlled by Israeli online magnate Teddy Sagi. Markets.com reports 'business as usual', and that the company actually had a profitable trading day in Thursday's session. In addition, the company stated that it is forgiving…
Read moreOnline discount brokerage firm Interactive Brokers Group, Inc. (NASDAQ:IBKR) has reported that due to the sudden move in the value of the Swiss Franc ("CHF") yesterday, several of its customers suffered losses in excess of their deposit with the company. Such client debits amount to approximately $120 million, less than 2.5% of IBKR's net worth. Interactive Brokers shares were off…
Read moreOn a day when several of its rivals lost (a lot) of money or got by with a manageable amount of losses, Gain Capital Holdings Inc (NYSE:GCAP) has put out a statement that they actually turned a profit when all was said and done yesterday. We believe that Gain put the statement out to counter any…
Read moreAlpari Group has put out a statement that the insolvency of Alpari UK, the FCA regulated arm of the Alpari Group, is separate and isolated from the rest of the Alpari Group. Other Alpari companies, including the flagship Alpari RU operation, are not affected by Alpari UK's closure. Alpari Group's statement follows - note the…
Read moreThis isn't a good sign. Shares of retail forex broker FXCM Inc (NYSE:FXCM) are trading in the Friday premarket at below $2 per share, about 85% off their closing price of $12.63 on Thursday. As at the time of writing FXCM's premarket price is sitting at about $1.90. The message is clear - traders do not…
Read moreLeapRate Exclusive... LeapRate has learned from industry sources that leading UK spreadbetting broker IG Group Holdings plc (LON:IGG) is looking to buy forex brokers and/or their client lists in the wake of yesterday's heavy losses suffered by many in the industry. IG itself reported £30 million in Swiss Franc trading related trading losses with clients. A…
Read moreUK spreadbetting company London Capital Group Holdings plc (LON:LCG) has put out a statement on its exposure to yesterday's sudden Swiss Franc move. LCG's shares were down more than 10% in early Friday trading. LCG's statement reads as follows: LCG maintains minimal exposure Following yesterday's announcement by the Swiss National Bank, which resulted in extreme movement …
Read moreAlpari UK has released the following announcement on its website. We are still unsure if this covers just Alpari UK (which it seems to), or what if any effect this has on the entire Alpari Group. Either way, it is the biggest fallout announced so far from yesterday's incredible trading activity around the Swiss Franc…
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