Tough times for the US based retail forex brokers. And their shareholders. Shares of Gain Capital Holdings Inc (NYSE:GCAP), parent company of retail forex broker Forex.com and institutional brand GTX, have continued to drift downward the past few months, hitting a 52 week low late last week. At Friday's close of $5.70, Gain Capital shares are…
Read moreGain Capital UK Limited, the FCA regulated arm of global retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported its financial statements for 2015 indicating significant improvement for the company. The results are essentially for the City Index business which Gain Capital acquired in April 2015 for $118 million. We'd also note that the results…
Read moreIntroducing broker Vankar Trading, an NFA-member introducing broker based in Chicago, has seen the NFA permanently bar it from membership and from acting as principal of an NFA member. In addition, the NFA has barred John S. Karvelas, sole principal of Vankar, from acting as a principal of an NFA Member for 10 years. Karvelas was…
Read moreLeapRate Exclusive… LeapRate has learned via regulatory filings that the former COO of Gain Capital Holdings Inc (NYSE:GCAP), Chris Calhoun, has (sort of) rejoined the company, at least in a non-executive capacity. Calhoun has joined the board of directors of Gain Capital UK Limited, the London-based FCA regulated arm of Gain Capital and its Forex.com…
Read moreContinuing the parade of healthy September FX trading volume reports, GTX - the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) - has reported that September FX volumes increased by 19% MoM and by 25% YoY, coming in at $11.5 billion ADV. ECN and SEF trading at GTX saw volumes average $8.5…
Read moreLeapRate Exclusive... LeapRate has learned that FCA regulated stock broking house Templeton Securities has changed the name of its Retail Forex arm from TempletonFX to simply TempleFX. We had reported exclusively back in early July about Templeton's plans to launch a retail forex arm. TempleFX is operating as an Introducing Broker to Alpha Capital Markets…
Read moreRetail forex broker FXCM Inc (NYSE:FXCM) has announced that it is transferring its stock exchange listing to The NASDAQ Global Market. Since going public in 2010, FXCM shares have traded on the 'big board' New York Stock Exchange (NYSE). FXCM rival Gain Capital Holdings Inc (NYSE:GCAP) also trades on the NYSE. The last day of trading on the…
Read moreGTX, the institutional foreign exchange trading arm of Gain Capital Holdings Inc (NYSE:GCAP), announced today it has hired Eduard Poltavsky as Director, e-FX Sales. Poltavsky specializes in Russian ruble and other eastern European currency pairs. Before joining GTX, Poltavsky was Director of FX Sales at the Hotspot FX unit of Bats Global Markets Inc (BATS:BATS). This marks…
Read moreGTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported that August FX volumes decreased by 5% YoY and by 9% MoM from July levels, coming in at $9.7 billion ADV. ECN and SEF trading at GTX saw volumes average $6.5 billion daily during August, down 21% from July. GTX’s swap…
Read moreRetail forex broker Gain Capital Holdings Inc (NYSE:GCAP) reported its Q2 financial results today, showing a 6% QoQ decline in quarterly revenues to $108.3 million. On the bottom line, Gain still did pretty well in Q2, with EBITDA coming in at $$27.6 million (down 13% from $31.8 million in Q1), and net income actually up slightly…
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