FX trading volumes continue to surge in 2013, led by Japan, as a global "risk-on" trade environment continues. LeapRate's Retail FX Volume Index, sponsored by Leverate, moved up another 2% in February following an rise 18% in January, to $206 billion per day. February's index figure was the highest ever, setting an all-time record. The increase also…
Read moreCFTC sets $3.5 million in fines, Trimble used client money to gamble in Vegas. The CFTC has fined Colorado-based Nicholas Trimble and his two companies Capstone FX Quantitative Analysis Inc. and Beekeepers Fund Capital Management LLC a total of $3.5 million in a foreign currency fraud action. The order also permanently bans Trimble from engaging in any…
Read moreSaxo Bank co-CEO's comments question whether the 10% confiscation of client funds at Cyprus banks will also apply to Cyprus FX brokerages. Before we start (or contribute to an existing) panic among clients of Cyprus-based FX brokerages, we would like to state at the outset that we have been told directly by senior management at…
Read moreHotspot FX's first month above $30 billion since last June. Hotspot FX reported that volumes in its Forex ECN system rose by 11% in February over January levels, to average $30.1 billion daily. February 2013 was also 2% above Feb 2012's averages. The numbers from Hotspot FX basically match what we already seen from the other…
Read more.... but the US Retail FX market continues to be a shrinking one for most of the other NFA regulated brokers. The CFTC released its monthly figures for January on the US Retail FX sector, and while overall US client assets in the retail FX space increased by 3% over December, virtually the entire increase…
Read more... and the bank sees a great start to 2013. Saxo Bank, one of the world's leading retail FX brokerage firms (and a member of LeapRate's Approved List), reported its 2012 full year results yesterday. While founders and co-CEOs Lars Seier Christensen and Kim Fournais, who recently re-took over the top management roles at the company,…
Read moreGain Capital also faces shrinking margins in its key retail FX business. U.S.-based retail Forex broker Gain Capital (Forex.com) reported its Q4 results today, and they were not pretty. Gain reported its largest quarterly net loss as a public company, $4 million (left chart below), and an EBITDA loss of $5 million, also a quarterly…
Read moreAlpari Group worldwide volumes exceeded $230 billion in February, a new record for the company. Global FX broker Alpari has joined a list of FX brokers and ECNs reporting strong or even record results of late. Alpari reported that its FX trading volumes for February exceeded $230 billion -- a record month for the company. that…
Read moreRevenue and volumes up in every region worldwide. IG Group, the UK's leading financial spreadbetting company, announced that in its Q3-2013 (for the quarter ended February 28, 2013 -- IG has a May year-end) revenues and activity were up nicely in double-digit percent across all of its major regions -- its home market of the…
Read moreIs this the catalyst for other Forex brokers (Saxo Bank, Alpari, Oanda, FxPro???) looking to go public? Leading global retail FX broker FXCM, a member of LeapRate's Approved List of regulated FX brokers, hit a major milestone on Monday when its share price on the NYSE rose to exceed its December 2010 IPO price for…
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