After experiencing a steady decline for the past 18 months, shares of Hong Kong based Retail FX broker KVB Kunlun Financial Group Ltd (HKG:8077) more than doubled in Thursday trading. KVB shares closed at HK$ 0.82 Thursday, after sitting at just HK$ 0.40 on Wednesday. The big move, up to a new 52-week high for…
Read more
Saxo Bank reports higher profits and client assets as digital transformation gathers momentum ahead of 25 year anniversary milestone Copenhagen based multi-asset broker Saxo Bank has reported a net profit of DKK 229 million for the first six months of 2017, an increase of 45% compared to the first half of 2016. Clients’ collateral deposits…
Read more
LeapRate Exclusive... LeapRate has learned that Switzerland based Retail FX brokerage firm Dukascopy has seen a further decrease in business activity in the first half of 2017, following what was a fairly disappointing year in 2016. In the first six months of 2017, Dukascopy reported Revenues of CHF 14.3 million (USD $15 million) - 6%…
Read more
LeapRate Exclusive... LeapRate has learned from court documents that about two weeks ago a US judge in Illinois entered a $22.9 judgement in favor of several plaintiffs which had sued Retail Forex broker IKON Global Markets for fraud, as well as its former principals Diwakar Jagganath, Ioannis Litinas and George Daskaleas. IKON Global Markets was…
Read more
Research outfit Investment Trends has issued its 2017 CFD Report for its home market of Australia, noting some changes in market share among the leading brokers serving Australian retail traders. According to the Investment Trends report, UK online trading leader IG Group Holdings plc (LON:IGG) remains the dominant leader down under as well, with 35% of…
Read more
Swiss financial regulator FINMA has issued a statement adding unlicensed offshore Retail FX broker NetoTrade to its public Warning List. This follows a similar warning against NetoTrade made earlier this summer by Spanish regulator CNMV. FINMA didn't list any details or reasons for placing NetoTrade on its warning list. Typically, FINMA takes such action if it…
Read more
We're not sure if this is the beginning of a new trend. Frankly, we doubt it, although we know that there are certain "advisers" out there encouraging unlicensed Retail FX and CFD brokers to build their credibility by "getting regulated" in exotic locales, when setting up a proper subsidiary in the UK or Cyprus is…
Read more
LeapRate Exclusive... LeapRate has learned via regulatory filings that FCA regulated Goldenway Global Investments (UK) Limited, which operates the GWFX Global retail FX and CFD brokerage brand (at gwfxglobal.com), has added Simon Henry as its new Compliance Officer. Simon Henry was hired by GWFX from London Capital Group Holdings plc (LON:LCG), where he was Head of Compliance for the…
Read more
Warsaw based X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates Retail Forex broker XTB.com as well as the X Open Hub trading platform, has announced its financial results for the first half of 2017. The company has already issued last month preliminary Q2 results indicating improved performance for the company over what was a very slow…
Read more
Forex and CFD provider AvaTrade just announced that has added to its portfolio the newest cryptocurrency, Bitcoin Cash. This brings the number of cryptocurrencies AvaTrade offers to 7, adding it to Bitcoin, Ethereum, Ethereum classic, Dash, Ripple and Litecoin. The new trading instrument, Bitcoin Cash, will be traded under the symbol BCHUSD. Since its formation…
Read more