UK online trading broker IG Group Holdings plc (LON:IGG) has reported its preliminary financial results in a trading update for the fiscal 2018 year (IG has a May 31 financial year end), indicating what are undoubtedly mixed results and outlook for the company. As far as back-looking results, IG reported its second best ever quarter…
Read moreForex Industry News and commentary this past week at LeapRate was clearly dominated by ESMA's (not so surprising) decision to cap Forex and CFD trading leverage at 30x - and that just for Forex major pairs. All other instruments, including cryptocurrencies, will be subject to an even lower leverage maximum. How did leading EU brokers…
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Following IG Group Holdings plc (LON:IGG) and Plus500 Ltd (LON:PLUS)'s recent reactions, Copenhagen based multi asset broker Saxo Bank has also spoken, 'strongly' welcoming ESMA’s leverage restrictions. The measures include caps on leverage which Saxo Bank considers fair and proportionate. Saxo Bank expects these measures to be positive for clients and result in a more level…
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Shortly after yesterday's IG Group (LON:IGG) reaction, retail FX and CFD broker Plus500 Ltd (LON:PLUS) has also released an update following the announcements from ESMA and the FCA in which they outlined the regulatory changes ESMA proposes to implement in the coming weeks. The principal changes are: leverage limits on the opening of a position by a…
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Retail and Institutional FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP) has issued a formal statement following this morning's news that pan-European financial regulator ESMA is following through on plans to ban Binary Options and (more importantly) cap leverage in Forex and CFD trading to 30x. GAIN Capital operates the retail Forex.com and City Index brands,…
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UK online trading leader IG Group Holdings plc (LON:IGG) has just noted that the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) have issued statements announcing measures on their work in relation to the provision of contracts for difference (CFDs) and binary options to retail clients. IG informed that it is…
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More than a month and a half after the close of its public consultation period - and despite receiving a tremendous amount of pushback from both online brokers and traders from across the continent - pan-European financial regulator ESMA today released its final proposals to govern leveraged trading, which remain unchanged from its original proposals.…
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It was a very mixed bag of Forex Industry News this past week with topics running from M&A to international expansion to regulation to marketing... And, as usual, the week's top stories appeared only or first on LeapRate. How much did Formax pay for social and copy trading provider ZuluTrade? Why was the sale of…
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UK online trading leader IG Group Holdings plc (LON:IGG) revealed results of its #ReplytoESMA website survey, indicating a very strong anti-ESMA stance among the more than 14,000 replies. As we reported earlier this week, ESMA has come under a lot of pressure to alter its plans to enforce a maximum leverage cap of 30x for…
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Will ESMA change its mind? While all formal indications to date indicate that ESMA plans to carry through with its new rules governing online trading - including a 30x leverage cap on CFDs - insiders within ESMA have admitted that the pan-European regulator has seen a virtual deluge of responses to its proposals, numbering in…
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