LeapRate Exclusive... LeapRate has learned that China based Formax Group's acquisition late last year of social / copy trading platform provider ZuluTrade, and related companies, was concluded at a price of USD $12.41 million. Formax actually acquired a lot more than just the ZuluTrade name, technology and platform. Indeed, when breaking down the purchase price,…
Read more
LeapRate Exclusive… LeapRate has learned that the FCA regulated arm of China based online brokerage group Formax Group has gone live with a new website and FX-ECN brokerage service under the moniker Formax Prime, at formaxprime.co.uk. Formax's former UK website formaxmarket.co.uk now also leads directly to the new site. We had exclusively reported during the summer…
Read more
LeapRate Exclusive... LeapRate has learned that the FCA regulated arm of China based online brokerage group Formax Group is getting set to make a large marketing push in the UK and Europe. To that end, the company's UK subsidiary Formax Prime Capital (UK) Limited has incurred a 2017 fiscal year (ended March 31) loss of £707,834, on…
Read more