FX Industry Week Review: Foreign FX brokers expand in UK, IKON Global $23M judgement, and lots more…

forex industry news update

In a usually quiet and short end-of-August trading week sandwiched by a Bank Holiday in the UK and the Labor Day weekend in North America, there was still an interesting number of Forex Industry News stories to report – with the week’s key stories all appearing exclusively at LeapRate.

Which Turkish FX broker has gone on a London executive hiring spree from LCG and GKFX, ahead of its planned UK launch?

Which Chinese FX broker looking to expand to the UK had its choice of compliance officer rejected by the FCA, only to hire from London Capital Group Holdings plc (LON:LCG)?

Why did a US court issue a $23 million judgement against IKON Global Markets, and its former principals Diwakar Jagganath, Ioannis Litinas and George Daskaleas?

All these stories and more appeared only on LeapRate this past week. Some of our most popular, shared and commented-on posts this week at LeapRate included:

Rowena Harris-Doughty Destek MarketsExclusive: Turkish FX broker hires execs from LCG and GKFX ahead of UK launchLeapRate Exclusive… LeapRate has learned that a recently FCA-licensed Retail FX and CFDs broker out of Turkey has made some additions to its senior management team in London, ahead of a big planned launch of operations later this year. Joining the broker are Rowena Harris-Doughty, formerly of LCG (pictured at right), and ex GKFX exec Hekio Mueller. So where are Ms. Harris-Doughty and Mr. Mueller going? What will their roles be? Get all the details, exclusively now at LeapRate.

GWFX Global websiteExclusive: China controlled FX broker hires a compliance officer from LCG, plans UK expansionLeapRate Exclusive… In a fairly rare move, the FCA has summarily rejected the proposed new Compliance Officer at a licensed Retail FX and CFDs broker. So, that broker went out and hired LCG’s compliance officer. We’d note that the FCA did not mince words in stating the reason for the rejected candidate, in a very harshly worded filing. Which broker got rejected? What exactly did the FCA say? And then who did they hire from LCG? Get all the details, exclusively now at LeapRate.

ikon court judgement fx fraudExclusive: US court issues $22.9 million fraud judgement against IKON Global MarketsLeapRate Exclusive… LeapRate has learned from court documents that about two weeks ago a US judge in Illinois entered a $22.9 judgement in favor of several plaintiffs which had sued Retail Forex broker IKON Global Markets for fraud, as well as its former principals Diwakar Jagganath, Ioannis Litinas and George Daskaleas. What does the court document state? Get all the details, exclusively now at LeapRate.

Dukascopy headquarters GenevaExclusive: Dukascopy posts 17% decrease in Revenues in 1H-2017, operating lossLeapRate Exclusive… LeapRate has learned that Switzerland based Retail FX brokerage firm Dukascopy has seen a further decrease in business activity in the first half of 2017, following what was a fairly disappointing year in 2016. How much did Dukascopy lose in the first half of the year? Get all the details and analysis, including a full downloadable copy of Dukascopy’s 2017 first half financials, exclusively at LeapRate.

IG, Plus500 and Pepperstone noted in 2017 Australia CFD market report. Research outfit Investment Trends has issued its 2017 CFD Report for its home market of Australia, noting some changes in market share among the leading brokers serving Australian retail traders.

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