Brokers News, Page 10

  • AMF to Educate Potential Investors against FX Trading Risks

    Autorité des Marchés Financiers (AMF) warned against the risks of FX trading as the number of investor complaints keep piling up.Though AMF regulates various unauthorized Binary Option and FX providers, it has launched an initiative aimed at sensitizing potential investors about the probable risks of FX trading. Its study showed

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  • Thomson Reuters Announces Trading Metrics for September 2014

    Thomson Reuters released its trading metrics for the month of September, which showed that spot average daily volumes (ADV) stood at $144 billion, compared with $107 billion in August, an increase of 34.6 percent MoM.The spot forex ADV in September 2013 totaled $119 billion, hence last month’s figures represents an

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  • GAIN Capital Releases September 2014 Trading Report

    Leading FX broker GAIN Capital announced its trading metrics for September 2014 on Thursday, which showed spectacular performance in the month. The company reported total trading volumes of $680 billion in September, compared with $528 billion in August, which represents a gain of 28.8 percent.The retail OTC trading volumes stood

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  • China to Allow Non-Banks to Trade in Interbank FX Market

    In what appears as an attempt at loosening its vice-like grip on the country’s financial markets, Beijing has announced that it will allow non-banks such as insurance firms, trust institutions and brokerages to participate in the interbank FX market.The move is also the most significant attempt at liberalizing China’s foreign-exchange

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  • Saxo Bank Reports Trading Volumes Rose 51 Percent

    Saxo Bank reported that trading volumes in September rose at least 51 percent from the prior month to $321 billion, the most since May 2013.The volumes were also up 46 percent from September 2013 rising FX volatility due to the Scotland’s referendum vote, the slowing Japanese economy as well as

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  • Interactive Brokers Announces September’s Performance Metrics

    Leading American retail FX broker Interactive Brokers Group, Inc., reported its monthly trading metrics for the month of September 2014. The figures are mixed though much better than for the previous year.Interactive Brokers announced that the Daily Average Revenue Trades (DARTs) in September were 17 percent more than in August

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  • ICAP Expects Revenues in the First Half to Drop 10 Percent

    Leading financial services firm ICAP reported a trading update on Tuesday outlining its performance in the first half of its fiscal year, which ended on September 30, 2014. ICAP netted revenue of 736 million pounds in the first half of 2013, and is scheduled to announce results for the first

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  • Russia to Lower Minimum Capital Requirements for FX Brokers

    The Russian parliament’s lower chamber (State Duma) lowered is set to debate on a Forex bill in October, which if passed, will lower the amount of capital needed to establish a Forex brokerage to $76,000.The State Duma will vote the second time to pass the bill that seeks to regulate

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  • U.K. Financial Conduct Authority Won’t Fine Individual Traders

    The U.K. Financial Conduct Authority has no plans to fine individual forex traders as the watchdog nears settlements with lenders they are employed at.The regulator is partly attempting to prevent the investigation from extending for a long time like the Libor-manipulation probe, where individual dealers have been slapped with fines,

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  • Nomura Once Again Tops Foreign Exchange Research Awards

    Japanese financial services giant Nomura has once again been ranked the # 1 leading source of Foreign Exchange Research in the Institutional Investor All-America Fixed Income Research poll for 2014. This is the fourth consecutive year it has topped the rankings.The company also performed strongly in all Securitized Products classifications,

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  • Monex to Pay Dividend to Shareholders, Releases August Metrics

    Japanese FX broker Monex Group plans to pay dividends to its shareholders for the second quarter of its financial year. The company also revealed the financial impact of its sale of MT4 client accounts that were held by its subsidiary, IBFX, to FXCM early September.Monex expects the sale to translate

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  • Goldman Sachs’ Head of Spot FX Leaves after 12 Years

    The head of spot foreign-exchange trading at Goldman Sachs, Mitesh Parikh, is exiting the prolific bank after 12 years to take up an appointment with a hedge fund.Parikh, who started working at Goldman Sachs in July 2002, will trade currencies at the hedge fund.When contacted, Parikh and a Goldman Sachs

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  • Merrill Lynch Fires Two Employees for Selling Unapproved Products

    Leading financial services firm Merrill Lynch dismissed two employees on grounds that they broke a major industry rule of selling products that weren’t approved by the company.Merrill Lynch, a unit of Bank of America, is one of the world’s biggest brokerages. The firm laid off two brokers who worked at

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  • Massachusetts Court Charges Man with Forex Fraud

    The U.S. Federal Court of Massachusetts charged Craig Karlis, the former owner of Boston Trading and Research LLC, to nine years in prison and asked to refund defrauded clients of the company’s forex scheme $4,378,306.Moreover, Mr. Karlis still awaits a verdict in the lawsuit that was filed by Securities and

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  • CLS Sets New Record for Number of Contracts Executed on Sept. 17th

    Global FX settlement service CLS announced it transacted a record number of contracts traded on Sept. 17th due to volatile financial markets.Bank details indicated that CLS handled more than two million FX instructions worth over $10 trillion. A sum total of 2,000,206 instructions were executed on Sept. 17, beating the

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  • Thomson Reuters Announces August Trading Metrics

    Thomson Reuters released its August FX volumes on Tuesday, with spot Forex average daily volumes up 8 percent to $107 billion, from $99 billion in July. Spot FX average daily volumes in August 2013 were $111 billion, representing a decline of 3.6 percent last month.Other trading volumes, such as Thomson

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  • IronFX Live Trading Competition

    IronFX Global sets new benchmarks in forex by offering the ultimate prize of a flight to space, with its latest live trading competition.1, September 2014, Limassol, Cyprus – IronFX Global, the Global Leader in Online Trading, has announced that it is launching its biggest live trading competition, “The IronFX Intergalactic

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  • FxPro Reaches Agreement to Buy Spot FX Aggregator Quotix

    FxPro Group entered into an agreement to acquire spot FX aggregator Quotix, a deal that gives it full control over its FX liquidity provision and help it expand into institutional-based services.The deal merges FxPro’s expert grasp of the retail FX market with Quotix’s technology, which translates into faster trade execution

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  • CLS Publishes Trading Metrics; MONEX Discontinues MetaTrader 4 in Japan

    FX risk firm CLS reported that its aggregation and settlement volumes in August rose 11.9 percent to 1,035,978, compared with 926,174 in July. The metrics had declined in July after rising in June.The average daily value at CLS in the month of August stood at US$4.90 trillion, an increase of

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  • Pakistan takes the title in FXTM’s “It’s Time!” social media competition

    Pakistan takes the title in FXTM's “It’s Time!” social media competitionThe winner of the international social media competition run by Forex Time (FXTM) has been announced, with Pakistan’s Husnain Akram taking the coveted prize. The “It’s Time” competition has been running for the past three months and has successfully showcased

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