Category: News

August 20, 2013 BY Gerald Segal

Germany becomes first country to formally recognize and regulate Bitcoin

Germany's Ministry of Finance considers Bitcoins a 'unit of account' -- meaning BaFin licensing required, Bitcoin transactions subject to VAT... Monday was a seminal day in the life of Bitcoin, with the release of a formal statement by Germany's Ministry of Finance. The statement indicated that Germany formally designated Bitcoin as a 'Rechnungseinheiten als Finanzinstrument', or…

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August 16, 2013 BY Gerald Segal

Gain Capital forex volume metrics down 5% in July

.... although Forex.com retail volumes remain about 50% above where they were last year. Forex broker Gain Capital, which operates the retail Forex.com and institutional Gain GTX brands, reported that July forex volumes were down in July, for the second month in a row. Retail forex volume metrics were down from June by 8% to…

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August 16, 2013 BY Gerald Segal

Bitcoin under investigation by the FBI and US Homeland Security

Bitcoin industry insiders believe continued US Government hostility will scare Bitcoin startups and entrepreneurs away from the US. In separate but related actions, two US Government bodies have requested investigations into Bitcoin. The investigations, to be carried out separately by the FBI and the US Department for Homeland Security (DHS), are to focus on the…

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August 15, 2013 BY Gerald Segal

FXCM shares cross $19 line, set another all-time high

FXCM shares up despite news that two senior officers of FXCM recently sold most of their shares. Shares of publicly traded forex brokers continue to surge forward. On a day when stocks were generally down (Dow -0.7%, S&P500 -0.5%), leading forex broker FXCM continued its climb upward -- crossing the $19 line, setting an all-time…

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August 14, 2013 BY Gerald Segal

Hotspot FX volume metrics down 22% in July

Hotspot FX still on a hot streak, but July volumes decline in line with its Forex ECN peers. After seeing its best-ever forex volume month in June, Forex ECN Hotspot FX reported that July volumes declined by 22%, to average $28.6 billion per day. The decline was basically in line with Hotspot's Forex ECN peers,…

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August 14, 2013 BY Gerald Segal

Leverate adds pop-up alerts in LXCRM for forex brokers

Allows brokers to set up pop-up alerts and notifications right from inside the CRM. LeapRate has learned that leading Forex platform provider Leverate has added a built-in alert wizard to its LXCRM product for forex brokers, which allows brokers to effortlessly create new alerts, without any knowledge of coding or development. For example, if a client…

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August 13, 2013 BY Gerald Segal

US Retail Forex assets continue to fall in June

US Retail Forex assets down 17% from the end of 2011. U.S. Retail Forex client asset data for June is now out, courtesy of the CFTC, and it shows the continuing shrinking of the US retail forex market. As per the table below, US retail forex client assets were down more than 1% in the…

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August 13, 2013 BY Gerald Segal

Australia's ASIC and UK's FCA look to regulate copy trading

Those who make money by having retail traders copy or mirror their trades will need to be licensed. LeapRate Exclusive... LeapRate has learned that two of the world's leading financial regulators, certainly when it comes to forex regulation -- ASIC in Australia and the FCA in the UK -- are in the advanced planning stages…

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August 13, 2013 BY Gerald Segal

CFH Clearing switches FX Prime Brokers

BofA Merrill Lynch replaces UBS as CFH's primary forex prime broker. Institutional FX brokerage CFH Clearing announced today that it has selected Bank of America Merrill Lynch as its new FX prime broker and its primary prime broker, as of August 1. London-based CFH will continue to work with UBS as a prime broker, predominantly for Precious…

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