Forex Broker News Archive - Jan to Mar 2016

CySEC Fines Mayzus 12k over AML Violations

31 Mar 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities and Exchange Commission (the 'CySEC') wishes to inform investors that, at its meeting held on February 29, 2016, decided to impose a total administrative fine of 12,000 on the CIF Mayzus Investment Company Ltd (the 'Company') for non-compliance with the following,: 1. the Prevention and Suppression of Money Laundering and . . .

IFSC Reveals ATS Markets Global False License Claims

30 Mar 2016, Belmopan, Belize - AtoZ Forex - Many different type of scams have been circulating lately, such as clone firms, outright fictitious companies and even forgery of license. On this note, the International Financial Services Commission of Belize (IFSC) has warned that the firm "ATS Markets Global Ltd" operates with a completely forged license displayed on the company's website.

FXCM and Halifax Announce White Label Partnership

30 Mar 2016, New York and Auckland - FXCM Press Release - They will offer FX and CFD trading to New Zealand residents. FXCM Inc. (NYSE:FXCM) ("FXCM"), a leading online provider of foreign exchange (FX) trading and related services, today with Halifax New Zealand, a Stock and Derivatives Broker, announced that they have entered into a white label partnership to offer retail FX and CFD trading to customers throughout New Zealand. Halifax New . . .

Mauritius FSC Delicenses Forex Broker FXPrimus

29 Mar 2016, Ebene, Mauritius - SMN Weekly - The Financial Services Commission (FSC) of Mauritius has revoked the licenses of forex broker FXPrimus, the regulator said on Monday. The FSC has revoked the broker's Investment Dealer (Currency Derivatives Segment) license, Investment Dealer (Full Service Dealer excluding Underwriting) license and Category 1 Global Business license. The news comes as no surprise since in end-May 2015 the regulator . . .

Italy's CONSOB Trade12 Warning

29 Mar 2016, Rome, Italy - AtoZ Forex - Italy's financial regulator, the Commissione Nazionale per le Societa e la Borsa (CONSOB), has again warned the public about the activities of another financial firm. Namely, the CONSOB has now issued a Trade12 warning. This warning, similar to recents cases, is meant to prompt the public against doing business with firms, which the financial regulator of the region cannot certify as genuine.

UK Forex Broker LMAX Exchange Adopts PTMC Trading Platform

28 Mar 2016, London, UK - SMN Weekly - LMax Exchange, a UK-based forex broker, has adopted Protrader Multi-Connect (PTMC) trading platform for forex and contracts for difference (CFDs), Protrader said on Monday. Ptotrader's deep integration into LMAX Exchange allows the broker's clients to take use of PTMC's advances panels, including Market Depth, Matrix, etc. In addition, traders can close individual positions for a certain trading instrument, . . .

AtoZ Forex's Best STP Forex Broker Award goes to Fidelis Capital Markets

28 Mar 2016, Amsterdam, Netherlands - AtoZ Forex - The results of the 2016 AtoZ Forex Awards were announced live from Wall Street, New York at the start of 2016. Traders nominated, voted and selected the best of the Forex industry during one month voting period on 9 different categories, including the Best STP Forex Broker category. Between 01/12/2015 and 01/01/2016, over 920. 000 traders around the world were able to vote everyday in each of the . . .

OANDA Upgrades Trading Platform by Adding TradingView Charts

25 Mar 2016, New York, NY, USA - SMN Weekly - The major US forex broker Oanda announced it has upgraded its proprietary fxTrade platform and has integrated the TradingView financial charting and trading platform. It is available through the "Advanced Charting" button. It contains a library of almost 60 prebuilt technical indicators, such as Bollinger Bands, Chaikin, Awesome Oscillator, Choppiness Index, Volume Oscillator, Williams Alligator and . . .

AtoZ Forex's Best MT4 Forex Broker Award goes to Exness

24 Mar 2016, Amsterdam, Netherlands - AtoZ Forex - It has been a memorable week with various AtoZForex's awards ceremonies held for the winners of the nine prestigious categories. EXNESS, a Cyprus Based (FOREX) Foreign Exchange Broker was nominated on Best MT4 Forex Forex Broker category during 2016 AtoZ Forex Awards. In an exciting run towards the final date of the global online poll, a total of over 920. 000 votes from over the world have . . .

Exness Leads Market Breakthrough with Unlimited Leverage

23 Mar 2016, Limassol, Cyprus - EXNESS News - With today's launch of Unlimited Leverage, Exness brings to the forex market a never-before-seen leverage, opening up a world of limitless possibilities to experienced traders. "As a leading forex player, we take pride in setting new benchmarks and bringing innovative services to our clients. The launch of Unlimited Leverage is one such step in that direction and we believe that it will . . .

New Zealand Authorities Deregister the Forex Broker AceForex

17 Mar 2016, Auckland, New Zealand - SMN Weekly - New Zealand's authorities have removed the AceForex forex broker from the Financial Service Providers Register (FSPR), shows a list published on the country's Companies Office. According to its website, www.acefx24.com, the broker is headquartered in New Zealand, but also has offices in the US and Asia. It claims it is fully regulated and licensed, but, besides the FSPR registration number and . . .

Trading212 Launches its Own Proprietary ProQuant Charting Tool

17 Mar 2016, Sofia, Bulgaria - SMN Weekly - Avus Capital, a MiFID forex brokerage doing business as Trading 212, has launched its own proprietary financial charting engine ProQuant for retail traders. The web-based charting solution is designed to help traders analyze market trends and build their own trading strategy. The technology is accessible via any browser at www.proquant.com and will soon be made available for mobile devices with iOS and . . .

Forex Club Applies for Belarusian Forex Registration

16 Mar 2016, Belarus - LeapRate - Forex Club, a retail Forex broker focusing on clientele in the Commonwealth of Independent States (CIS), on Tuesday filed an application for its inclusion in the Forex companies' register maintained by the National Bank of the Republic of Belarus. The regulator is set to review the application within 30 days. The Belarus Forex market has been regulated since June 2015, when the nation's president signed the . . .

CySEC Fines BDSwiss Forex Broker EUR 5000

16 Mar 2016, Nicosia, Cyprus - SMN Weekly - The Cyprus Securities and Exchange Commission (CySEC) will fine the forex broker BDSwiss (BDSwiss Holding Ltd. ) EUR 5000. According to the announcement on the regulator's website, the decision was taken in December 2015 and is for noncompliance with the Investment Services and Activities and Regulated Markets Law. The Commission decided to impose two separate fines EUR 2500 each, for violations . . .

FMA Warning on ECN Markets After Receiving Complaints

16 Mar 2016, Auckland, New Zealand - AtoZ Forex - The Financial Markets Authority of New Zealand (FMA) has warned the public against dealing with the broker Suisse Limited, which operates as ECN Markets. It was discovered that the broker has been targeting New Zealand clients without the requisite license. Henceforth, the FMA warning on ECN Markets was issued.

British Columbia Securities Commission Issues Warning Against Nemesis Capital Limited ( AlfaTrade)

16 Mar 2016, British Columbia, Canada - British Columbia Securities Commission - AlfaTrade, which claims to have an office in Bulgaria, purports to be a brokerage firm that offers trading in Forex, contracts for difference, commodities and indices. Nemesis Capital Limited owns and operates AlfaTrade. We recently became aware that a British Columbia (BC) resident was able to open an account with AlfaTrade. The Parties are not . . .

NFA Orders Plantation, Florida Retail Foreign Exchange Dealer IBFX (TradeStation) to Permanently Withdraw from NFA Membership

15 Mar 2016, Chicago, IL, USA - NFA - National Futures Association (NFA) has ordered IBFX, Inc. (IBFX), an NFA Member registered retail foreign exchange dealer and provisionally registered swap dealer (SD) located in Plantation, Florida, to permanently withdraw from NFA membership and from acting as a principal of an NFA Member. The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint authorized by the . . .

CFTC Orders Florida-based IBFX, Inc. (f/k/a TradeStation Forex, Inc.) to Pay a $1 Million Penalty for Failing to Meet Minimum Capital Requirements

14 Mar 2016, Washington, DC, USA - CFTC - The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Plantation, Florida-based IBFX, Inc. (IBFX), formerly known as TradeStation Forex, Inc. IBFX is a wholly owned subsidiary of TradeStation Group, Inc. and a CFTC-registered Retail Foreign Exchange Dealer (RFED). The CFTC Order requires IBFX to pay a $1 million civil monetary penalty . . .

KROUFR Adds MXTrade to its Black List

13 Mar 2016, Russia - Finance Magnates - MXTrade is the 15th suspicious forex company on KROUFR's blacklist. The Russian Commission for the regulation of relations in the financial market, known as KROUFR, has today blacklisted forex broker MXTrade. The move follows a series of complaints relating to the withdrawal of profits resulting from customer trading activities and MXTrade's failure to comply with requests to withdraw money. MXTrade has . . .

Orbex Expands its Cooperation with Research Provider Trading Central

11 Mar 2016, Limassol, Cyprus - LeapRate - CySEC regulated Forex brokerage Orbex is expanding its cooperation with the leading independent financial research provider Trading Central. Informed trading decisions within your platform have become more attainable through the partnership. Orbex clients are able to access Trading Central service in 4 new languages: Italian, Spanish, Indonesian and Turkish. The new languages are now available on Trading . . .

FXCM Dropping IB Deal with Near Bankrupt ATC Brokers

10 Mar 2016, New York, NY - SMN Weekly - US forex broker Forex Capital Markets, aka FXCM (NYSE:FXCM), has decided to discontinue its introducing broker (IB) partnership with Avail Trading Corp. , operating under the brand ATC Brokers, which recently filed for bankruptcy, online forex media LeapRate reported on Thursday, citing an email sent by FXCM to its clients. The broker will stop acting as a FXCM IB, starting the end of the trading day on 18 . . .

FXAsia Updates Website Disclosure to Clarify the Services it May Offer

10 Mar 2016, Australia - ASIC Media Release - Following concerns raised by ASIC, OTC derivative issuer FXAsia Pty Ltd (AFSL No. 418036) (FXAsia) has taken steps to update disclosure on its website (https://www.fxasia.com/). The updates will inform potential clients that FXAsia cannot currently issue OTC derivatives to retail investors. Despite holding retail license authorisations, FXAsia is not currently in a position to issue these . . .

Tradeview Forex Adds cTrader Forex Trading Platform

9 Mar 2016, Cayman Islands - SMN Weekly - Offshore online forex broker Tradeview Markets, trading as Tradeview Forex, said on Tuesday it has expanded its offering by adopting cTrader, one of the leading forex trading platforms. With the new addition, Tradeview Forex now supports several different trading platforms MetaTrader 4 (MT4) in all of its variations desktop, web, and mobile, Currenex, and the newly-added cTrader. The news comes days after . . .

New Zealand's FMA Warns of the Forex Broker Mocaz

9 Mar 2016, Auckland, New Zealand - SMN Weekly - New Zealand's regulator FMA has put the forex broker Mocaz on its warning list of unregistered companies. According to its website, the watchdog has received a complaint from an overseas resident that the regulatory information on the broker's website is misleading. "Mocaz Financial Markets Limited is not registered to provide financial services in New Zealand," notes the FMA.

Monex Cuts Spreads on Tradable Forex Offering

8 Mar 2016, Tokyo, Japan - Finance Magnates - Japan's Monex is axing spreads on 13 currency pairs the offering is valid until the end of April, 2016. Japanese foreign exchange brokerage Monex announced this week the launch of a spread-cutting campaign for thirteen currency pairs on the tradable trading platform. The campaign began on March 7, 2016, and will last until April 30, 2016. According to the company, the duration may be extended depending . . .

Exness Wins Best Educational Broker Award at FX Empire Awards 2015

7 Mar 2016, Tel Aviv, Israel - EXNESS News - Exness is proud to be named the Best Educational Broker at FX Empire Broker Awards 2015, a vote-based competition that saw the participation of more than 10,000 traders this year. "Winning this award means more than just industry recognition. It means that traders acknowledge our education initiative and that the resources we put forth are of value to them," said Igor Rudi, Marketing Director.

FSA Warning List Includes FXDD

3 Mar 2016, Tokyo, Japan - AtoZ Forex - The Japanese regulators have again displayed their no-nonsense approach towards activities of Forex and Binary Options brokers operating within its region. In the latest case, the FSA warning list now includes three firms: BitPlutos, DashOption and FXDD, with FXDD being the most striking name on the list.

Vantage FX Wins Best ECN/STP Broker at 2015 Forex Awards

3 Mar 2016, Sydney, Australia - Vantage FX Press Release - Vantage FX is proud to have been recognised as the Best ECN/STP Broker for 2015 at the Forex Awards. The Vantage FX RAW ECN Account was judged number 1 on the following attributes: Spreads from 0. 0 Commissions at $3. 00 per lot Leverage up to 500:1 Minimum initial deposit of $1000 Trading size from 0. 01 Vantage FX also gained . . .

IronFX Eyes China with FXGiants, Offering Shares to IBs

3 Mar 2016, China - Finance Magnates - With a new brand and ownership structure, the CySEC regulated broker aims to join forces with local Chinese partners. Finance Magnates has learned that IronFX is launching a new subsidiary targeting the Chinese market after the reputation of its brand was affected by months of failure to honor withdrawal requests. As Finance Magnates reported several weeks ago, FXGiants is the new brand which IronFX will use.

Pepperstone Gets Majority Stake Investment from CHAMP Private Equity Firm

3 Mar 2016, Melbourne, Australia - Pepperstone - Pepperstone today announced that CHAMP Private Equity, one of Australia's leading private equity firms, has made a major strategic investment in the Melbourne based global forex and CFD broker. Pepperstone was founded in 2010 by Owen Kerr and Joe Davenport and since then has grown into one of the top 10 FX brokers globally. The founders have partnered with CHAMP to facilitate further . . .

Multiple Regulators, Including FINMA, Warn Against Trading Banks

1 Mar 2016, Switzerland - AtoZ Forex - The Financial Markets Authority (FINMA), Switzerland's foremost financial regulator has again warned the public about the activities of another unregulated firm selling its services in the region. This time, the warning involves the Forex broker TradingBanks. A remarkable case, as multiple regulators warn against Trading Banks. Aside, the recent the Swiss regulator's warning on TradingBanks, previous year . . .

FX Empire Awards, Alpari Wins Best Trading Platform and Best Customer Support

1 Mar 2016, Tel Aviv, Israel - Bumtrade - Alpari's extremely high standards in its work have once again been recognised by prestigious awards. On this occasion, the company received two awards from FX Empire, an international informational and analytical portal For its work throughout 2015, Alpari was awarded the title of Best Trading Platform and Best Customer Support. "The name Alpari is synonymous with quality trading products and innovative functionality.

FXTM Unveils New Copy Trading, Incentivized Program For European Traders

29 Feb 2016, Limassol, Cyprus - Finance Magnates - FXTM Invest gives users the opportunity to publicize or broadcast their successful trades, while also recouping fees. FXTM has launched a new program for European and global traders, called FXTM Invest, which serves as the latest iteration of its social and copy trading module, according to an FXTM statement. FXTM Invest was designed to help streamline a number of different functions for . . .

ATC Brokers US Entity Files for Chapter 11 in California

29 Feb 2016, Los Angeles, CA, USA - Finance Magnates - Proceedings are fast underway for a chapter 11 bankruptcy filing for the OTC forex and on-exchange futures introducing brokerage (IB) known as ATC Brokers, according to recent court filings, for their U. S. entity. Chapter 11 proceedings have been filed by Avail Trading Corp (ATC) in the California Central Bankruptcy Court, under case 2:16-bk-11648-DS dated February 9th, with nearly 20 . . .

Russia's VTB24 Bank Considers Applying for a Forex Dealer License

26 Feb 2016, Moscow, Russia - SMN Weekly - One of Russia's leading banks, VTB24, considers the establishing of a subsidiary offering forex trading services and applying for a license from the regulator Bank of Russia, reports the Russian news agency Interfax. It quotes the bank's press office who said the setting up of a limited liability company will be discussed at a meeting of the bank's supervisory board on February 26. "The board will . . .

End of FXPro cTrader, Mirror Trader

26 Feb 2016, London, UK - AtoZ Forex - Cyprus headquartered FxPro has issued a public notice regarding its services in connection with their cTrader platform. The FX and CFDs broker has clarified that effective as of Friday, February 26th, it will no longer offer the cTrader's mirror/copy trading feature. This is an interesting update as FxPro remains one of the pioneering brokers to offer the cTrader platform service.

OANDA Acquires TradeStation Forex Accounts

24 Feb 2016, San Francisco, CA, USA - OANDA Press Release - OANDA, a leading global provider of online foreign exchange and over-the-counter commodities and indices trading services, today announced an agreement to acquire all of the forex accounts of IBFX, Inc. (a/k/a TradeStation Forex), the forex dealer firm subsidiary of TradeStation Group, Inc. , as IBFX exits the forex dealer business. The transfer is scheduled to occur Friday . . .

After US, OANDA Acquires Clients of IBFX in Australia

24 Feb 2016, Sydney, Austtralia - Finance Magnates - Continuing from the Finance Magnates report yesterday that OANDA has acquired the U. S. clients of the U. S. subsidiary of TradeStation, IBFX, another deal is confirmed as the brokerage has also signed a deal with IBFX Australia. All clients of IBFX Australia have until the 4th of March to sign off from a deal that is transferring their accounts to the Australian subsidiary of OANDA, OANDA . . .

Saxo Announces New Introducing Broker Partnership in Malta with Bank of Valletta

24 Feb 2016, Valletta, Malta - Saxo Bank Press Release - Partnership highlights ongoing momentum in Introducing broker business. Saxo Bank, the online multi-asset trading and investment specialist, announces today a new co-Branded Introducing Broker (IB) partnership with Bank of Valletta, the largest commercial bank in Malta. The partnership will see Bank of Valletta use the trading technology that underpins the award-winning . . .

Axiory Selects Fortex MT4 Web Trader Platform

23 Feb 2016, Belize - LeapRate - Financial technology company Fortex, Inc. , and provider of direct market access (DMA), brokerage & asset management services Axiory, have announced their partnership that will see Axiory offer the Fortex MT4 Web Trader to its clients. Fortex's state-of-the-art MT4 Web Trader platform, which features a fully responsive design, will be available to Axiory's growing base of customers worldwide. The platform has been . . .

New Zealand's FMA Issues Warning Against NoaFX

23 Feb 2016, Auckland, New Zealand - AtoZ Forex - New Zealand's Financial Market Authority (FMA) has again warned the public against dealing with a firm, which has been targeting New Zealand clients, without the requisite license or authorization to do so from the relevant authorities. The latest FMA warnings on NoaFX and CMI Group are actually against the Parent company Capital Market Investments Limited, which operates via the brand names.

Forex Brokerage AvaTrade Unit Gets License in South Africa

23 Feb 2016, Pretoria, South Africa - The Forex Review - AvaTrade, a forex broker regulated in several different countries, said on Tuesday it has obtained, through its subsidiary Ava Capital Markets Pty Ltd. , a license from South Africa's Financial Services Board (FSB). The South African subsidiary was recently set up to be in charge of the AvaTrade group's local operations. As part of its expansion in South Africa, the broker has opened an . . .

CommexFX Gets Another 100,000 Euros Fine from CySEC for Unauthorized Operations

23 Feb 2016, Nicosia, Cyprus - Cyprus Securities and Exchange Commission - The Board of the Cyprus Securities Exchange Commission ('CySEC') wishes to inform investors that, at the meeting held on December 14th, 2015, decided to impose an administrative fine of 100. 000 on the CIF CommexFX Ltd for non-compliance with Section 6(8) of the Investment Services and Activities and Regulated Markets Laws of 2007, as amended from time to time ('the . . .

One Financial Markets Opens Kuwait Office via Appointed Representative

22 Feb 2016, Salmiya, Kuwait - Finance Magnates - Kuwait office announced via tied appointed agent status with VI Markets, through One Financial Markets' UK FCA license. London-based FCA regulated One Financial Markets which provides multi-asset trading capabilities across its multiple offices globally today announced a new office in Kuwait through a local partnership with VI Markets its registered appointed representative. Whilst the news of the . . .

Swissquote Adds MT4 WebTrader

21 Feb 2016, Gland, Switzerland - LeapRate - Swissquote Group Holding SA (SWX:SQN), the leading online brokerage and banking firm in Switzerland, has announced the launch of MT4 WebTrader, which the company says is a significant upgrade to that of the previous web platform offered by Swissquote. Developed by MetaQuotes using the latest HTML5 programming, the MT4 WebTrader platform does not require a download and can be accessed from any browser.

OctaFX Named Best Islamic Account Forex Broker by ForexTraders.com

20 Feb 2016, St. Vincent and the Grenadines - OctaFX - OctaFX is proud to receive the positive feedback of retail traders and to be appreciated by the leading Forex magazines and web resources. OctaFX today announced that the prestigious web portal ForexTraders.com highly evaluated their efforts and gave them the Best Islamic Account Forex Broker 2015 award. OctaFX stated that they are incredibly happy to be distinguished by . . .

Ontario Securities Commission Issues Warning Against FX Broker CMS Trader

18 Feb 2016, Ontario, Canada - LeapRate - The Ontario Securities Commission (OSC) continues to add unlicensed Forex brokers to its Warning List. Less than a month after one of the strictest Canadian financial regulators issued a warning against retail forex broker Sumo Forex Limited, the watchdog publishes a warning against CMS Ventures Limited (also known as Pandorx Ventures Ltd. ) . . .

Russia's Alpari Adopts MT5 Trading Platform

18 Feb 2016, Russia - The Forex Review - Russian forex brokerage group Alpari said it has added the MetaTrader 5 (MT5) trading platform to its offering and has launched new instruments for binary options trading. Alpari has introduced two new type of trading accounts, ecn. mt5 and pamm. ecn. mt5 accounts, which will allow its clients to use the MT5 to trade forex and spot metals using Electronic Communication Network (ECN) technology, the broker . . .

Traders Vote OctaFX as Best International Broker 2015 in FX Empire Awards

17 Feb 2016, St. Vincent and the Grenadines - OctaFX - Year 2016 is in full effect now, however Forex experts are still evaluating how we did last year. Today, OctaFX is proud to announce that one of the major websites in the industry, FX Empire, proclaimed them the Best International Broker 2015. OctaFX was voted Best in the category by the majority of traders around the world, and we are excited to be rated so high on the international scene.

Admiral Markets Wins Germany's Best Forex Broker Award Two Years Tunning

17 Feb 2016, London, UK - Admiral Markets Press Release - For the second consecutive year, the readers of OnlineBroker-Portal. de have voted Admiral Markets UK as the Leserwahl 2016 Best Forex Broker. "Already in 2015 and now in 2016 we have received this Leserwahl 2016 Best Forex Broker award," says Admiral Markets Germany spokesperson Jens Chrzanowski. "This summer we will celebrate the fifth anniversary of Admiral Markets being . . .