Continuing a theme we’ve seen among many participants in the Forex industry, this week saw LeapRate report exclusively on upcoming website / GUI changes at two of the better know names in Retail Forex: popular trader site FXStreet, and broker Forex.com.
Our most popular guest post of the week is courtesy of Leverate’s Ben Richter on IBs taking the ‘next step’ to become full fledged brokers.
Cyprus regulator CySEC continued its sweep of all major CIF licensed brokers in the country, this week hitting up Anyoption, one of the few regulated binary options brokers, for €235,000.
And our readers were first to learn of the trend in March FX trading volumes, looking down in the low double digit percent range from February. We should learn more this week as some leading brokers and ECNs continue to report.
Some of the most popular, shared and commented-on posts this past week on LeapRate included:
FXStreet set to launch brand new website – LeapRate Exclusive. Spain headquartered FXStreet,com, one of the most popular sites for active Forex traders and market participants is getting a makeover. The classic design which has been in existence for the better half of a decade (8 years now to be exact) will get a modernization as soon as next week, when the new beta site becomes fully active. So what does the about-to-be-new FXStreet site look like? Why change the website now? Is it just a new user interface or something more? We’ve got all the answers including input from FXStreet management, exclusively at LeapRate.
GAIN Capital’s Glenn Stevens speaks one year after City Index acquisition – LeapRate Exclusive. It was one year ago today that Gain Capital Holdings Inc (NYSE:GCAP) closed on its $77 million acquisition of City Index, but more recently GAIN’s moves have taken the company in other directions, such as our recent coverage of the company’s plans to launch an online money transfer business under the URL ForeignExchange.com. We thought it would be a good time to catch up with GAIN Capital CEO Glenn Stevens. Glenn provided us with some fairly interesting insights into integrating City Index (and what will become of the City Index trading platform during 2016), a soon-to-be-launched brand new FOREX.com website, the plans for the ForeignExchange.com money transfer business, and a whole lot more.
IB: Taking the next step to become a broker. You are an IB. You know what you are good at, which is marketing and maintaining good relationships with clients. Your business is striving at it, but one day, you realize you are serving yourself just a thin slice of a much bigger, much tastier pie, and so you decide to explore your options and look into opening up your own brokerage. Ben Richter, Head of Institutional Sales at Leverate, compares the two main choices aspiring brokers have: Ownership under the umbrella of a big broker, or going completely independent with the help of a tech provider.