LeapRate Exclusive... It isn't often that a large block of active retail forex traders (or IBs) come up for grabs. So when it happens, it shouldn't really come as a surprise that rival retail forex brokers do all they can to get a piece of that action. This is, after all, an industry more dependent…
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Continued fallout from the ban of FXCM Inc (NASDAQ:FXCM) and its co-founders Drew Niv and William Ahdout from the US forex sector... Institutional Forex ECN FastMatch, in which FXCM holds an equity stake, announced that Mr. Niv and Mr. Ahdout have left the FastMatch board of directors, effective immediately. They have been replaced by two…
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Retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) has announced that it has reached a definitive agreement to acquire the US clients of rival FXCM Inc (NASDAQ:FXCM). Gain declined to say how much it was paying for the FXCM US client base. However we believe that very little cash changed hands (more on that below). Gain…
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Now is a great time to see the aftermath of the damage being brought to FXCM in the wake of the ruling in which the US Commodity Futures Trading Commission (CFTC) banned FXCM Inc (NASDAQ:FXCM) from its home US market, as well as a permanent registration ban for CEO Drew Niv. Today the stock is tanking by…
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Following our earlier report that New York based retail forex broker FXCM Inc (NASDAQ:FXCM) had been banned from the US market (alongside bans for CEO Drew Niv and co-founder William Adhout) after FXCM settled allegations of defrauding customers regarding its market making activities, FXCM has put out a statement confirming the settlement with US regulators CFTC…
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In a fairly harsh and historic move, the US Commodity Futures Trading Commission (CFTC) has banned FXCM Inc (NASDAQ:FXCM) from its home US market, as well as a permanent registration ban for CEO Drew Niv (pictured above). More details follow. We expect the company to put out a formal statement within about an hour, formally announcing…
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FXCM Inc. (NASDAQ:FXCM), an online provider of foreign exchange (FX) trading, Contract for Difference (CFD) and related services, has announced the opening of its newest office, FXCM South Africa, based in Johannesburg. New Office Location: 114 West Street, 6th Floor, Katherine & West Building, Sandton 2196, Johannesburg, South Africa Drew Niv, CEO of FXCM, said:…
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Retail Forex broker FXCM Inc (NASDAQ:FXCM) has released details of its 2017 executive compensation plan, and it seems that it is placing a large premium on repaying in full its loan from Leucadia National Corp (NYSE:LUK). On November 7, FXCM's Board of Directors approved the company’s 2017 Incentive Bonus Plan for Founder-Directors and Specified Executive Officers for the…
Read moreRetail forex broker FXCM Inc (NYSE:FXCM) and investment company Leucadia National Corp (NYSE:LUK) have announced a renegotiation of their loan and 'letter' agreements, which will see Leucadia take a direct 49.9% interest in FXCM's operating companies. FXCM will retain the other 50.1%. The other major changes to the original deal (which was renegotiated once already, to…
Read moreAs we said they would, retail forex broker FXCM Inc (NYSE:FXCM) has issued a formal statement in reply to yesterday's news that the CFTC was now charging FXCM with undercapitalization related to the 2015 Swiss Franc spike - more than a year and a half after the event, and after the issue had been rectified. And, as…
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