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Screenshot of a breaking news alert e-mail from Q2 2017
It was a week of both good and bad Forex Industry News, with the key stories of the week once again appearing only at LeapRate.
We also saw quite a lot of financial reports from a variety of brokers from around the world. Also – some good, some not-so-good.
Which investor group was granted a new CySEC CIF license, and went live with a new Retail FX site this week?
Which country banned Binary Options?
Which leading Retail FX broker was denied in its application for a financial services license in Bulgaria?
Answers to these questions and a whole lot more appeared first or only on LeapRate this past week. Some of our most popular, shared and commented-on posts this week at LeapRate included:
Exclusive: New FX broker ProbusFX gets CySEC license, hires CEO of Squared Financial. LeapRate Exclusive… The new, stricter rules governing FX and CFD brokers issued by Cyprus financial regulator CySEC late last year do not seem to be deterring a new generation of brokers from setting up shop in the island nation. LeapRate has learned that CySEC has issued a new CIF license to a Lebanon based investor group, which has hired the (now former) CEO of Squared Financial to run the new company. Who is behind ProbusFX? Who is the new company’s CEO? Get all the details, exclusively now at LeapRate.
Exclusive: Plus500 denied financial services license in Bulgaria. LeapRate Exclusive… LeapRate has learned that Plus500 BG EOOD, the Bulgarian subsidiary of global Retail FX and CFDs broker Plus500 Ltd (LON:PLUS), has been denied by the country’s financial regulator Financial Services Commission (FSC) in its application to receive a financial services license in Bulgaria. Why was the license denied? Why would the FCA, CySEC, and ASIC licensed Plus500 apply for a license in Bulgaria in the first place? Read all about it, exclusively now at LeapRate.
Exclusive: Former IBCFX owner and Labor Party member Nizar Alemi arrested in Israel. LeapRate Exclusive… LeapRate has learned from sources in Israel that Adv. Nizar Alemi, the owner of now defunct Retail FX broker IBCFX, has been arrested for tax evasion, involving foreign Forex brokerage companies and bank accounts which he declined to report to local tax authorities. Get all the details, exclusively now at LeapRate.
FX sector executive moves from the past week included:
- Divisa hires Sammy Christou from LCG as Head of Trading ahead of new FX platform launch.
Financial reports from throughout the FX industry this past week:
- Exclusive: FX broker Infinox (formerly Go Markets UK) doubles its Revenues in 2017 to £17.5 million.
- Prime broker Divisa UK doubles its Revenues in Fiscal 2017 to £4.7 million ahead of $100 million expansion.
- Social trading CFD broker Ayondo Markets doubles Revenues in 2016 as losses mount.
- FxPro UK increases Revenue 64% in 2016 to £3.2 million, volumes top $112 billion.
- Plus500 indicates Revenues continue to be ‘ahead of expectations’ in Q3 Trading Update.
- LCG turnaround continues with trading volumes up 25%, narrowed losses in 1H 2017.
- CMC Markets reports increased profits in first half of Fiscal 2018, but fewer clients.