The Sanctions Commission of AMF – France's financial markets regulator, today published its decision on sanctions against FXCM Ltd, a subsidiary of US retail Forex giant FXCM Inc (NYSE:FXCM). The company is being sanctioned over violations of French regulations dating back to 2013, when the AMF decided to check whether the broker was meeting its…
Read moreRetail Forex giant FXCM Inc (NYSE:FXCM) has encountered some problems in France, which boasts having one of the strictest Forex regulators – the AMF. According to a L'AGEFI report, the Forex firm is facing hefty financial sanctions in France for not checking the regulatory status of its partners in the country. The report says that…
Read moreFT's article entitled 'Why would anyone trade forex?' shows clear misunderstanding of retail forex traders. LeapRate Exclusive.... In a follow up article to the news that FXCM had been fined £4 million by UK financial regulator FCA, the Financial Times ran an article questioning the basis of any retail trader participating in the forex industry, Indeed,…
Read moreWill other UK brokers face similar action for asymmetric slippage? As we reported earlier, the UK arm of FXCM (NYSE:FXCM) has entered into a settlement agreement with UK's Financial Conduct Authority (FCA). The agreement is concluding and old issue for the company related to order execution practices (asymmetric slippage) between August 2006 and December 2010.…
Read morePress release follows. Full details and background coming soon at LeapRate.... The Financial Conduct Authority fines FXCM UK £4 million for making 'unfair profits' and not being open with the FCA The Financial Conduct Authority (FCA) has fined Forex Capital Markets Ltd and FXCM Securities Ltd ("FXCM UK") £4,000,000 for allowing the US based FXCM…
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