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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that FCA regulated stock broking house Templeton Securities has changed the name of its Retail Forex arm from TempletonFX to simply TempleFX.
We had reported exclusively back in early July about Templeton’s plans to launch a retail forex arm.
TempleFX is operating as an Introducing Broker to Alpha Capital Markets (formally ACM Group PLC). Client funds will be held at Alpha and Alpha will act as the counterparty to client trades. Alpha provides liquidity and market making services to FX brokers and institutional traders. It is owned by UAE/British businessman Tony Afram, and run by CEO Muhammad Rasoul who joined Alpha earlier this year from Gain Capital Holdings Inc (NYSE:GCAP).
Other than in its home UK market, we understand that TempleFX will focus on providing retail FX trading in certain growth and emerging markets, including Russia, China, Indonesia and India.
In the UK (only) TempleFX offers Spread Betting, and is looking to add social trading later in the Fall.
Platform-wise, TempleFX is offering MT4 and its own branded web trader called TempleFX Trader, as well as mobile app versions of both. TempleFX is also offering MAM accounts for licensed fund and money managers.