FX News Roundup: Admiral Markets Introduces MT5 in U.K., FXCM Ends Affiliate Program

As it seeks to consolidate its foothold in the U.K. market, Admiral Markets on Monday launched its live MetaTrader 5 service. This is in line with its goal of providing trading platforms for various audiences. The company had inserted a ‘coming soon’ tab on its website-www.admiralmarkets.co.uk-indicating that it would soon add MetaTrader 5 trading platform.

It remains to be seen how the company will fare in the UK market, where most retail FX firms use in-house spread betting and CFD platforms that are designed with the local market in mind. The MetaTrader 5 platform can be downloaded by clicking this link.

Meanwhile, leading retail FX broker FXCM terminated its affiliate program via a letter that was mailed to all its former affiliates. Most analysts believe the cancellation of the program is mainly due to financial reasons, as the company shifts to its new raw-spreads-plus commission pricing model.

Secondly, the company may have ended the affiliate program due to regulatory reasons as regulators increasingly scrutinize volumes and clients linked to the affiliate program.

Nonetheless, the hint that FXCM would terminate the affiliate program was all too clear. The company, as seen on its Q2 report, reported that indirect volumes fell 28 percent from a year earlier, mostly due to the winding down of the affiliate program.

Elsewhere, social trading firm Myfxbook has been registered by CySec as a regulated brokerage, licensing the company to provide brokerage services. This puts the company in good stead to offer its services to clients across Europe if regulations are amended to incorporate copy and social trading.

Myfxbook was licensed under number 332657. For other CySec-regulated brokers, you can follow this link

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.