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Screenshot of a breaking news alert e-mail from Q2 2017
Lots of interesting executive moves in Forex Industry News this week, with most of them exclusively reported at LeapRate.
Oanda loses its charismatic CMO, Gain Capital reassigns its COO, Walbrook Capital (formerly FXCM Securities) replaces its CEO…
On the financial front, fast growing GKFX now has even more dry powder to work with after getting an $8 million capital injection – exclusively reported at LeapRate (and then of course copied on other blogs). And Gain Capital Holdings Inc (NYSE:GCAP) reported results for an absolutely horrible Q3, topped off by a slow start to Q4.
Some of our most popular, shared and commented-on posts this week at LeapRate included:
GKFX raises $8 million looking at expansion and acquisitions. LeapRate Exclusive… LeapRate has learned that FCA regulated Retail Forex and CFDs broker GKFX has raised £6.54 million (USD $8 million) in a series of transactions during the months of September and October. Why would GKFX – which we understand is quite profitable and growing – raise more money at this stage? Where did the money come from? Get all the details, exclusively at LeapRate.
Oanda CMO Drew Izzo becomes latest high level departure from the retail forex broker. LeapRate Exclusive… LeapRate has learned that Oanda Chief Marketing Officer (CMO) Drew Izzo has left the company, becoming the latest in a string of senior level departures at Oanda over the past year or so. What’s Drew Izzo doing now? What’s led to the departures over the past few months at Oanda? Get all the details, exclusively now at LeapRate.
Walbrook Capital (formerly FXCM Securities) replaces CEO Paul Inkster with Conor Ringland. LeapRate Exclusive… LeapRate has learned that FCA regulated multi-asset broker Walbrook Capital Markets Limited is restructuring its operations, with the main change being that it has tapped board member Conor Ringland to replace Paul Inkster as its CEO. Inkster had joined Walbrook less than a year ago, after Latvia’s Expobank bought FXCM’s UK-based CFDs arm and renamed it Walbrook Capital Markets. Get all the details, exclusively at LeapRate.
Gain Capital’s losing Q3 and slow start to Q4. Some rough numbers from Gain Capital, which operates the Forex.com retail and GTX institutional FX brands. Gain’s Q3 report unveiled a 33% QoQ drop in Revenues, and a $4.7 million quarterly loss. And the outlook into Q4 isn’t much better, with October volumes the slowest they’ve been at Forex.com in more than three years. Separately, the company announced a shakeup in management including a reassignment of COO Jeff Scott.
UK online trading survey: IG leads, with CMC Markets, Plus500 and FXCM gaining in CFDs and FX. Australia based research house Investment Trends has released its 2016 UK Leverage Trading Report, an in-depth analysis of UK traders and investors’ attitudes and investing habits based on a large-scale survey of more than 12,000 UK investors conducted both before and after the Brexit vote.