The leading annual FX and online trading Expo in China. A reminder to our readers, that the annual CIOT EXPO for 2013 will be taking place this weekend (Saturday and Sunday) in Shenzhen, China, at the Shenzhen Grand Theater. For more information on speakers and the agenda, or if you'd like to register for the…
Read moreMt Gox, which handles 80% of Bitcoin trades, sees its trade engine freeze as interest in Bitcoin soars. Well this didn't take long. Just hours after we reported that Bitcoin prices were crashing after a fast and frenzied run up from $25 to over $200 in just two months, comes word that Mt Gox --…
Read moreBiggest drop was at Interactive Brokers, which dropped 22%. U.S. Retail Forex client asset data for the month of February is now out, and there weren't really any big surprises: Overall, U.S. Retail Forex assets dropped 2% from January to $641.6 million, and are down 15% from last year as the U.S. retail FX sector…
Read moreBit4X on MetaTrader; Coinsetter raises $500K; but when will the Bitcoin hit the "mainstream" retail FX world? The online virtual currency Bitcoin went on a wild roller coaster ride the past 24 hours, rising to hit a value of $266 then falling to a low of $105, before settling (at the time of this writing)…
Read moreThe Gain Capital (Forex.com) board puts in place a controversial "Shareholder Rights Plan". Well this certainly didn't take long -- and should confirm to our readers what we wrote yesterday, namely that FXCM-Gain Capital friendly discussions had been going on behind the scenes for quite some time between FXCM and Gain Capital management, before breaking down,…
Read moreAmounts to a small slap on the wrist for Interactive Brokers, but shows the CFTC is cracking down on safety-of-client-fund issues. The CFTC has assessed a $225,000 fine against Interactive Brokers (Nasdaq:IBKR), a leading U.S.-based online brokerage which also is the #5 retail FX brokerage in the U.S. The CFTC cited Interactive Brokers for: failing to…
Read moreCFTC orders those named to pay $750,000, and imposes permanent trading and registration bans. The CFTC has ordered Barry Sendach of Boca Raton, FL and Joshua Kershner of Boynton Beach, FL, and their Boca Raton-based company Forex Global Solutions to pay a $750,000 fine for fraudulently soliciting customers to trade FX, and for violating CFTC registration requirements.…
Read moreFollows a very brief attempted "friendly" offer by FXCM, which was rebuffed by Gain Capital management. In a move which has shocked the FX world, FXCM has made an offer to acquire Gain Capital (Forex.com) for $5.35 per share, or a total of $210 million -- all payable in FXCM stock. That's the headline. But…
Read moreCySEC allows FX brokers to release client names and data to banks, to allow for release of client funds. LeapRate Exclusive... We reported (exclusively) last week that segregated client fund bank accounts held by Cyprus FX brokers at Laiki Bank and Bank of Cyprus would NOT be subject to the "haircut" (or more correctly, confiscation)…
Read moreCFTC charges Whileon Shay and 4X Solutions with using client funds to pay personal expenses, luxury resorts, expensive restaurants, exotic car rentals... The CFTC has charged New York based 4X Solutions, Inc. and its principal Whileon Chay with fraud claiming they were running a $4.8 million FX trading Ponzi scheme. The CFTC complaint alleges that Chay and…
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