London-based online trading firm CMC Markets Plc (LON:CMCX) has issued a Trading Update for its Fiscal 2017 third quarter, which covers the three month period of October 1 - December 31, 2016. CMC has a March 31 fiscal year end. While CMC did not disclose any specific revenue, volume or earnings figures, it did state…
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LeapRate Exclusive... It looks like a number of heavy hitters are betting on a comeback in the share price of CFD broker Plus500 Ltd (LON:PLUS). Plus500 shares, and those of other leading UK online brokers including IG Group Holdings plc (LON:IGG) and CMC Markets Plc (LON:CMCX), were hit hard last month following new proposed rules unveiled…
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For those in the European or UK Forex, CFD and retail financial services industry hoping for some form of license passporting to remain in place as part of Brexit, it doesn't look like you'll get your wish. UK financial industry lobby group TheCityUK, put together by a number of the UK's leading banks and financial…
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Retail Forex broker FxPro has abandoned plans for a London stock market flotation as a result of the UK regulator's plan to crackdown on the growing financial spread betting market, Sky News reported earlier. FxPro has tens of thousands of UK clients but the sector received an unexpected blow in December when the Financial Conduct…
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LeapRate Exclusive... 2016 was not a good year for shareholders of publicly traded Forex and CFD brokers. LeapRate analysis (see table below) has calculated that more than $2.4 billion was erased from the market value of online trading brokerages during 2016. On average each brokerage lost more than one-third, or 37%, of its market cap…
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It looks like Fidelity Investments isn't waiting for the big bounceback in shares of UK online brokers, following the $2 billion+ market cap hit taken by publicly traded brokers in the wake of the FCA's recent tightening of rules around CFD brokerage and trading. It was indicated in a recent regulatory filing that the US investment…
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Forex Industry News at LeapRate this week had a very China feel to it, including new China partnerships (eToro), Baidu reversing its China ad ban for selected Forex brokers (a LeapRate Exclusive report), and Neteller and Skrill operator Paysafe Group Plc (LON:PAYS) losing 38% of its value because of perceived China problems. We covered new…
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LeapRate Exclusive... LeapRate has learned that London based senior market analyst Jasper Lawler has switched teams, moving from CMC Markets Plc (LON:CMCX) to crosstown rival London Capital Group Holdings plc (LON:LCG). Jasper Lawler is now one of two senior analysts covering the markets for LCG, joining Ipek Ozkardeskaya who had joined LCG about a year ago from Swissquote. Mr.…
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UK investment manager Odey Asset Management LLP has continued to buy shares of FCA regulated CFD broker Plus500 Ltd (LON:PLUS), building its stake as Plus500's largest shareholder to a more than 23% interest in the company. Odey began buying Plus500 shares early last week in the wake of Plus500's 28% share price drop, following revelations that…
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Stock market investors have continued to dump shares of publicly traded UK Forex and CFD brokers, following new rules proposed last week by UK financial regulator the FCA for CFD trading. We had earlier reported that the FCA's proposals - including a ban on deposit bonus payments to retail traders, and (more importantly) a 50x…
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