LeapRate Exclusive... LeapRate has learned from filings made in Russia that the Bank of Russia has issued a seventh license to operate a retail forex brokerage operation in the country, to Fix Trade LLC. Fix Trade is a Russian subsidiary of InstaForex, an (otherwise) unlicensed retail forex broker focusing on the CIS countries and the…
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ADS Securities, the global FX brokerage house, has asked clients to make sure they access the company’s website through the URL www.ads-securities.com. A website with a similar address, which claims to offer services mirroring those provided by ADS Securities, has been set-up and could be mistakenly accessed by clients. ADS Securities is not affiliated, connected,…
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Spain's financial regulator CNMV (Comisión Nacional del Mercado de Valores) has issued its Activity Plan for 2017-2018. The plan has defined four strategic areas for the next two years, and 50 specific objectives for 2017. While the CNMV did not outline specific plans to target Forex and CFD trading (or Binary Options, for that matter), it…
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Given the large response, the FCA will take more time than expected in finalizing the new rules.
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Breaking Forex News... Ireland has become the latest country to crack down on leveraged Forex and CFD trading. The Central Bank of Ireland (CBI), which also acts as the country's financial regulator, has announced that is has published a consultation paper on distribution of CFDs, which include in its definition leveraged Forex pairs trading. The…
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Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the Ontario Securities Commission (OSC) has added to its Warning List trading signals provider Scion Forex Account Management, operating as Scion Forex and doing business at website scionforex.com. The Scion Forex website shows the company having offices…
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Malta financial regulator MFSA has issued a warning addressed to retail investors regarding the risks associated with what it calls 'speculative products', including Forex, CFDs and Binary Options. It is unclear what prompted this latest 'general' warning, as no specific broker or scam was mentioned. The MFSA has in the past been fairly active in…
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Dutch regulator Authority for the Financial Markets (AFM) has issued a new report detailing its plans to ban advertising for Forex and Binary Options products. We had reported back in September of Holland's plan to join France in banning the advertising of leveraged trading products - or what the AFM more derisively calls 'toxic investment…
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The Competition Commission of South Africa has today referred a Forex manipulation collusion case to the Competition Tribunal which has jurisdiction throughout South Africa and adjudicates competition matters. The Forex collusion case which was first announced back in April of 2015, officially was referred for the prosecution against the following 17 institutions: Bank of America Merrill…
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Warsaw based retail forex brokerage group X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates the XTB.com brand and the X Open Hub trading platform, has made filings in its home country of Poland that it foresees significantly reduced activity from the Turkish forex market. XTB's filings were made after regulators in Turkey decided to crack…
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