Forex Broker News Archive - Apr to Jun 2015

Forex Club Launches Renewed Platform Libertex

29 Jun 2015, Russia - LeapRate - The investment platform is web-based and enables clients of the Russian FX broker to invest in multiple assets. Russian Forex broker Forex Club has officially presented an updated version of its own creation trade and investment terminal Libertex. The terminal provides access to the most popular financial instruments (currencies, metals, stocks, energy resources, indices, etc. ) via a single application that works . . .

FXPRIMUS Moves its Headquarters to Cyprus

26 Jun 2015, Cyprus - LeapRate - Several months after acquiring a CIF license, the retail Forex broker moves its headquarters to Cyprus. Retail Forex broker FXPRIMUS, which in December 2014 obtained a license as a Cyprus Investment Firm (CIF), keeps building its business in Cyprus. In fact, the company is seeing the country as the new home for its operations, as it has just announced the move of its headquarters to Cyprus. The license (261/14) the . . .

Swissquote First Swiss Bank to Launch Apple Watch App

25 Jun 2015, Gland, Switzerland - Finextra - Swissquote Bank, Switzerland's leading online bank, today announced the launch of the first mobile banking and trading application developed by a Swiss bank for the much anticipated Apple Watch, ahead of its official Swiss release date, the 26th of June. The free Swissquote App, an add-on and extension of the existing Swissquote iPhone mobile banking and trading application, will allow users to remain . . .

eToro Aims to Reduce Risk in Social Trading

25 Jun 2015, Limassol, Cyprus - LeapRate - The company has unveiled a set of future changes to its social trading network, including making high-risk strategies unavailable to copy. Social investment expert eToro has today unveiled a set of changes that will affect the CopyTrading experience of its clients. At the core of the coming changes is apparently risk-management. As the company puts it: CopyTrading is tool that diversifies investment and . . .

Forex Trend Accounts for 60% of Complaints to New Zealand's FDR

25 Jun 2015, Auckland, New Zealand - LeapRate - During the 11 months to May 31, 2015, New Zealand's Financial Dispute Resolution (FDR) scheme got 248 complaints regarding Forex Trend, all of them from Ukrainian residents. Clients of Forex Trend Ltd, the retail Forex broker that was earlier this month deregistered from New Zealand's Financial Services Providers (FSP) list due to regulatory concerns, have been most active in contacting the Financial . . .

One Financial Markets Announces New FSP License in South Africa

25 Jun 2015, Pretoria, South Africa - One Financial Markets - One Financial Markets is pleased to announce its new license to operate as a foreign financial service provider (FSP) in South Africa. Authorised and regulated by the Financial Conduct Authority (FCA) in the UK, One Financial Markets offers international market access to retail and institutional clients via a comprehensive range of FX and CFD products. Stuart Cooke, . . .

Dukascopy Announces Exit from Japanese Market With a Client Note

25 Jun 2015, Geneva, Switzerland - Finance Magnates - After no official announcement about entering the Japanese market has been made the Swiss brokerage terminates its operations in the country. In a surprise note to Japanese clients, the Swiss arm of Dukascopy Bank has informed Japanese clients that it is terminating its business in the country. The announcement comes as a surprise after the company has officially been looking to acquire a . . .

IronFX Leaves 4 Regulators and Closes Offices

24 Jun 2015, Limassol, Cyprus - AtoZ Forex - It seems like one of the most rumored Cyprus based Forex and CFDs broker IronFX continues its global corporate restructuring. Yesterday IronFX marketing representative sent an email update about company's operations to major industry leading websites. The email covers that IronFX left 4 regulations and closed a number of offices globally.

GAIN Capital Consolidates Retail Business into City Index& Forex.com

24 Jun 2015, Bedminster, NJ, USA - Finance Magnates - Under a restructuring plan the broker will be phasing out a couple of brands it has acquired over the years, including GFT. After the acquisition of City Index officially concluded, GAIN Capital ended up owning an expanded set of brands well known in the UK and within some countries in the European Union. That said, undoubtedly the strongest of the portfolio is the City Index, which is also the . . .

Gaitame.com Selects smartTrade to Accelerate FX Broker Business

23 Jun 2015, Tokyo, Japan - smartTrade - SmartTrade Technologies, a global leader in multi asset, end-to-end trading solutions for Tier1, Tier2, regional Banks, Brokers and Asset Managers, has been selected by Gaitame.com, a leading Japanese online foreign exchange (FX) trading company, to deliver a fully automated and hosted low latency FX connectivity platform. Gaitame.com is constantly seeking to increase their execution efficiency . . .

Offshore Brokerage RVD Markets Operating in Ukraine and Russia Goes Under

23 Jun 2015, British Virgin Islands - Finance Magnates - As first reported by Finance Magnates Russia, the exodus of the Eastern European forex industry is continuing with RVD Markets. The brokerage has switched off its website and published an announcement that it was closing its doors as a result from "black Thursday" or the day when the Swiss National Bank removed the floor under the EUR/CHF exchange rate. The website states that the company . . .

XTB Reportedly Seeking IPO at Warsaw Stock Exchange

23 Jun 2015, Warsaw, Poland - Finance Magnates - Speaking with Finance Magnates, Jakub Maly, the CEO of XTB, confirmed that the firm may be thinking about an IPO. An additional international FX firm is evidently looking to become a public company. The online broker X-Trade Brokers (XTB) is considering listing on the Warsaw Stock Exchange with an offering worth up to 200 million ($224 million), according to a Reuters market source today. XTB, . . .

LAT Joins Forces With FXCM UK to Launch New Trading Programme

22 Jun 2015, London, UK - PRNewsWire - The London Academy of Trading (LAT) has launched a Financial Trading Programme in association with online spread betting and CFD broker Forex Capital Markets Limited ("FXCM UK"). This new course marks another step forward in LAT's expansion as it remains the only accredited education provider of financial trading in the UK. . . .

Dukascopy Completes Stress Tests to Safegaurd the Group and Clients against Black Swan

18 Jun 2015, Geneva, Switzerland - LeapRate - Dukascopy believes these measures will eliminate repetition of Alpari/FXCM scenarios and will not influence the large majority of the group's retail clients. Today Swiss Forex bank and brokerage house Dukascopy has announced that following the Euro/Swiss franc move on January 15th 2015, Dukascopy Group continued to improve its risk management. To ensure stability of Dukascopy Group entities, stress . . .

Dynamic collaboration between CIM and FXTM

16 Jun 2015, Limassol, Cyprus - Financial Mirror - A Memorandum of Understanding (MoU) was signed between the Cyprus Institute of Marketing (CIM) and ForexTime (FXTM) on Tuesday 16 June 2015 at FXTM Headquarters in Limassol, with the aim of promoting collaboration between the private sector and academic institutions, and supporting innovation and the expansion of entrepreneurship in Cyprus with the substantial involvement of new technologies and marketing.

Plus500 UK May Account Freeze was not the First Time for the Company

16 Jun 2015, London, UK - LeapRate - In October 2014 Plus500 UK wrote to the FCA requesting to freeze individual customer accounts where adequate documentation and verification had not been received. As we reported recently, retail forex and CFD broker Plus500 Ltd (LON:PLUS) has made progress in undoing the freeze of UK client accounts, reporting that of 23,000 customers who had logged into their accounts since the May 18 freeze more than 10,000 . . .

Saxo Bank Launches SaxoTraderGO Globally, Renounces CySEC License

16 Jun 2015, Copenhagen, Denmark - Finance Magnates - The Danish multi-asset brokerage has concluded the launch of its new platform with all retail clients of the broker gaining access. About a month and a half after Saxo Bank introduced its new trading platform in Paris, the brokerage has announced that it is about to conclude with the global rollout of SaxoTraderGO. The last country where the new solution will be introduced today is Switzerland.

HotForex Goes From Strength to Strength, Earning 'Online Broker of the Year' Award

15 Jun 2015, Port Louis, Mauritius - PRNewsWire - HotForex celebrates yet another success story this year, winning the prestigious title of "Online Broker of the Year - Europe 2015" from the European Magazine, which recognizes organizations and individuals distinguished for moving their industries forward. HotForex boasts a long-standing tradition as an exceptional international online broker, having already earned three distinctions from the . . .

CommexFX's License Suspended for Endangering Clients' Interests

12 Jun 2015, Nicosia, Cyprus - LeapRate - CySEC has given CommexFX Ltd fifteen day to take actions in order to comply with the Directive, 'Safeguarding of clients' funds'. The Cypriot financial watchdog took action today against CommexFX, a broker operating mainly in Egypt and China as well as other Asian markets. The Cyprus Securities and Exchange Commission (CySEC) has just announced that the authorisation of the Cyprus Investment Firm 'CommexFX . . .

Magick Becomes Tradeworks Announces Partnership with SVSFX

11 Jun 2015, London, UK - Finance Magnates - Recently renamed to Tradeworks from Magick, the firm has announced a new partnership of its automated trading platform with SVSFX. Providers of cloud-based technology for automated strategy creation, back testing and deployment, Magick has recently renamed its business to Tradeworks. The name change comes as the firm has rolled out several new features and upgrades; specifically the platform's back . . .

New Zealand's Regulator Orders Deregistration of Forex Trend from FSP List

10 Jun 2015, Auckland, New Zealand - LeapRate - The Financial Markets Authority today started procedures for striking off the troubled FX broker from the list of Financial Service Providers (FSP). The situation around financial troubled Forex Trend Limited, the New Zealand-based retail Forex broker, is worsening, as the country's financial watchdog today ordered the deregistration of the company from the Financial Service Providers (FSP) register.

What's Going on at FXTG? Multiple Senior Staff Fired

9 Jun 2015, Melbourne, Australia - AtoZ Forex - The Australian retail brokerage FXTG organisational restructuring has raised some questions, as its employment and lay off policies is quite odd. Making it for an outsider confusing and wonder in what state the Australian retail firm is currently under. Especially now it has been reported that six account managers at its Australian headquarter has been laid off. However, more impacting is the fact . . .

Pepperstone Parts with Sirix, Replaces Webtrader Solution with Fortex

4 Jun 2015, Melbourne, Australia - Finance Magnates - The Australian broker has terminated its partnership with Leverate to deliver a new solution from another end-to-end platform provider Fortex. Australian brokerage Pepperstone has just announced that it is diversifying its platform, offering away from the Sirix webtrader solution from Leverate which it launched only about a year ago. The company will be using a new cloud-based WebTrader for MT4 . . .

Playtech Extends Online Trading Reach with Plus500 Buy

1 Jun 2015, London, UK - Reuters - Playtech Plc (PTEC. L), the online gaming company founded by Israeli billionaire Teddy Sagi, has agreed to pay about 460 million pounds ($700 million) to buy Plus500 (PLUSP. L), a retail forex trading shop feeling the strain of money laundering rules. The deal will expand Playtech's online trading platform and comes hot on the heels of its entry to the business through the acquisition of a majority stake in . . .

FSC Suspends FX Primus License

29 May 2015, Ebene, Mauritius - AtoZ Forex - The last few weeks the major forex industry player FX Primus has been at the center of attention, in positive light as well as less. Having hired various ex-IronFX industry specialists the brokerage has strengthened its team with great expertise, ever since FX Primus obtained its CySEC licensed back in December last year. However, mid May this year the brokerage's IPO plan got halted by ASIC, while a . . .

KVB Kunlun and Chinese CITIC Securities Formally Conclude Purchase

29 May 2015, Hong Kong - Finance Magnates - The companies announced the completion of the deal, with CITIC agreeing to pay $100 million for almost 60% of KVB Kunlun. KVB Kunlun and Chinese company CITIC Securities announced earlier today that they had completed the transaction announced in February this year, where the latter bought almost 60% of the outstanding shares of the publicly listed Honk Kong-based broker for $100 million (HK$780 . . .

The Award for Best Money Manager Services 2015 Goes to GDMFX

28 May 2015, Auckland, New Zealand - GDMFX - Once again, GDMFX has been honored with a prestige Foreign Exchange Service Provider award. We have been recognized for our efforts, outstanding services and support provided to our Money Managers and their Investors' Network. Unit Forex, a specialized Forex news site, has presented GDMFX with the award for 'Best Money Manager Services 2015'. The award is chosen by the news portal's readers . . .

Plus500 Transfers London Clients to Cyprus

28 May 2015, London, UK and Limassol, Cyprus - LeapRate - LeapRate has been provided with a letter to a Plus500 customer, explaining that his trading account which was originally opened and operated by the firm's London based, FCA regulated operations, has been transferred to Plus500's CySec regulated operations in Limassol, Cyprus. LeapRate has been informed that Plus500 Ltd (LON:PLUS) has begun a process of transferring clients which were . . .

Mitsubishi's kabu.com gets Business Improvement Order from Japan's Regulator

28 May 2015, Tokyo, Japan - LeapRate - The retail FX broker will have to solve problems with its risk management systems and controls. Japan's Financial Services Agency (FSA) has once again shown that it is a strict regulator, as it presented kabu.com, a retail FX subsidiary of Mitsubishi UFJ Financial Group Inc (TYO:8306), with a business improvement order. The latter is in itself a set of measures that the company has to implement to solve the . . .

FXCM to Sell Hong Kong to Rakuten Securities

28 May 2015, New York and Hong Kong - FXCM Press Release - FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange (FX) trading and related services, today announced that Forex Trading, LLC, a subsidiary of FXCM Newco, LLC ("FXCM") has signed a definitive agreement to sell FXCM Asia Limited ("FXCM Hong Kong") to Rakuten Securities, Inc. ("Rakuten Sec"), a top 5 FX broker in Japan, and a subsidiary of Rakuten, Inc. ("Rakuten") . . .

eToro Opens Russian Office

25 May 2015, Russia - LeapRate - The investment network plans to spend $3-4 million for marketing its business in Russia this year. International investment network eToro is pushing further in a newly regulated FX market by opening an office in Russia. The information has been confirmed to Russian newspaper "Kommersant" by the head of eToro's Russian operations Pavel Salas. Some numbers here would be interesting: the investment network envisages . . .

FXCM and Saxo Bank Acquire Citigroup's CitiFX Pro Client Book

22 May 2015, New York, NY, USA and Hellerup, Denmark - Finance Magnates - FXCM's US and UK entities will take over clients of Citi's respective regions, while Singapore business will be transferred to Saxo Bank. Back in April, Finance Magnates reported that Citigroup was about to sell its $30 billion a month margin FX trading business, CitiFX Pro. Finance Magnates can now confirm that buyers of the client book are two international retail brokers, . . .

Saxo Trades Lawsuits With Clients After Swiss Currency Turmoil

22 May 2015, Copenhagen, Denmark - The Edge Markets - Saxo Bank A/S, a Danish broker bank stung by losses on Switzerland's surprise revaluation of the Swiss franc, sued 12 currency-trading clients in Singapore in the latest lawsuits stemming from January's exchange-rate turmoil. The customers are liable for their losing trades, Saxo's Singapore unit said in lawsuits last month, seeking $7. 62 million in total. The clients countersued, saying . . .

ASIC Requires FX Primus to Cease Targeting Australian Investors

21 May 2015, Australia - ASIC Media Release - Following concerns raised by ASIC, FX Primus, which provides margin foreign exchange (margin FX) and contracts for difference (CFDs) trading, has agreed to make changes to its websites and to notify its Australian clients that it is not licensed to provide them with financial services. Over the past few weeks, ASIC has raised a number of issues, including the provision of unlicensed financial . . .

Phillipines' SEC Stops the Forex Activities of MetisEtrade

20 May 2015, Pasay City, Phillipines - ABS-CBN News - The Securities and Exchange Commission (SEC) has issued a cease and desist order against a Filipino-Korean firm allegedly selling foreign currency trading contracts to the public illegally. MetisEtrade Inc. , as well as its officers, directors, agents and representatives were ordered to stop engaging in activities related to selling and/or offering of its products, which it refers to as . . .

GDMFX Awarded Best Forex Customer Service Company Asia-Pacific 2015

20 May 2015, London, UK - GDMFX - GDMFX is thrilled to announce that they have just received the prestigious award of Best Forex Customer Service Company Asia-Pacific 2015. The Global Banking & Finance Review, a respected British online magazine has ranked GDMFX No. 1 for the "Best Forex Customer Service Company Asia-Pacific 2015" with the award being selected by an independent jury of professionals. The award is a testament to . . .

Sucden Financial Named Best STP FX Liquidity Provider 2015

20 May 2015, London, UK - Sucden Financial Press Release - For the third consecutive year, Sucden Financial Limited has been named Best STP FX Liquidity Provider in Western Europe in the 2015 Global Banking & Finance Review Awards. The award provides a strong endorsement of the London-based firm's market leading offering for brokers and financial institutions seeking STP liquidity. The Global Banking & Finance Review Awards, . . .

CySEC Imposes Administrative Fine on Reliantco / UFXMarkets

20 May 2015, Nicosia, Cyprus - LeapRate - The firm breached Cypriot investment laws by appointing a tied agent without registration and by not obtaining necessary information from clients regarding their level of knowledge of the services they signed up for. The Cyprus Securities and Exchange Commission (CySEC) today published an announcement regarding an administrative penalty on Reliantco Investments Ltd, the parent company of retail FX broker UFXMarkets.

Australian FX Firm AETOS Beefs up UK License

18 May 2015, London, UK - LeapRate - AETOS now holds an FCA license with variation of permission (VOP) to hold clients' money. AETOS Capital Group, a retail Forex group originally registered in Australia, has announced that it has obtained an enhanced license in the UK. The firm's registration with the Financial Conduct Authority (FCA) has been effective for more than two years already but the business is now starting to develop, so the license . . .

Global Brands Magazine names FBS Inc as the Best Forex Brand in Asia 2015

18 May 2015, New York, NY, USA - iReach Press Release - FBS Inc named Best Forex Brand in Asia for the second consecutive year. Global Brands Magazine has awarded FBS Inc in recognition to the firm's excellence in providing world class trading services in the region. The judging criteria behind the Global Brands Awards are competitive. The financials, growth, customer experience . . .

OctaFX cTrader for Apple Released

16 May 2015, Kingstown, St. Vincent and the Grenadine - Newswire - OctaFX - ECN broker, is ready to present one more improvement for cTrader users! OctaFX starts to support cTrader for Apple devices, which makes trading for Apple device owners as easy as never before. Good news for every cTrader user in OctaFX community! OctaFX offers 48 currency pairs using cTrader for iOS! The application can be downloaded free of charge and is compatible . . .

InteractiveBrokers Integrates QuantConnect

15 May 2015, Greenwich, CT, USA - AtoZ Forex - InteractiveBrokers, the US based automated global electronic market maker and broker has subsidiaries operating on most major stock, option, futures, forex, bond, ETF and CFD exchanges worldwide. The firm has announced the integration QuantConnet, a platform to Code algorithms in a browser based IDE, using template strategies and free tick data and can be used to backtest strategies using our free, . . .

ETX Capital Extends a Credit Line to Alpari UK Traders

14 May 2015, London, UK - Finance Magnates - Traders who have chosen their Alpari UK deposits to be repaid directly into their ETX Capital trading accounts will get 30% ahead. An official announcement made by ETX Capital states that Alpari UK's clients who have chosen to take up on the offer of the UK brokerage to sign up with the firm will receive a gesture of good faith from their new broker. After ETX Capital acquired the client base of Alpari . . .

ASIC Blocks FX Primus IPO

14 May 2015, Australia - The Australian Financial Review - The corporate watchdog has blocked the potential float of an online foreign exchange broker, FX Primus, as concerns mount about the prevalence of brokers setting up shop in Australia to target forex punters in the region. FX Primus Group initially lodged a 135-page initial public offering prospectus to raise equity with Australian Securities and Investment Commission on April 16, but the . . .

OANDA Embraces Full Mobile Functionality as US Customers can Now Fund Accounts from iPhone

13 May 2015, New York, NY, USA - LeapRate - The drive toward full mobile functionality is continuing as OANDA updates its fxTrade application for iOS, allowing US customers to fund their accounts from their smartphones. Closely following the mobile-first direction that every electronic and online business is taking, technology-led FX firm OANDA Corporation has upgraded its fxTrade mobile application for the Apple iOS operating system. The upgrade, . . .

Vinson Financials Wins Prestigious Award in Saudi Arabia

12 May 2015, Jeddah, Saudi Arabia - Vinson Financials - Vinson Financials strongly believes in client's trust and this is the reason they are continuously dedicated in investing on client's superb service and integration of products. Vinson Financials is proud to announce that it triumphed at the Saudi Arabia Expo held in Jeddah on the 14th and 15th of November 2014, by winning the "Fastest Growing FX Provider in the Middle East 2014" Award.

Quebec AMF Blacklists Numerous Forex Brokers Including AccentForex, Ava Trade, LiteForex, Markets.com, Plus500 and XM

8 May 2015, Quebec, Canada - AtoZ Forex - Quebec's financial market watchdog the Autorite des marches financiers ("AMF") has issued a special warning as regards the recent popularity of binary options brokers, many of which are may actually have fraudulent intentions. The Canadian province has become a new target for binary options dealers, both licensed and unlicensed. The warning is majorly directed at this brokers that are not duly authorized . . .

Malta Financial Services Authority Issues Warning Against Bank Invest Capital Ltd

7 May 2015, Attard, Malta - Malta Financial Services Authority - The Malta Financial Services Authority (MFSA) has become aware of an entity operating under the name Bank Invest Capital Ltd, claiming to have an address in Valletta Malta, which entity purports to be licensed by the MFSA. The MFSA wishes to alert the public, in Malta and abroad, that the above mentioned entity is NOT a company registered in Malta NOR is it an entity . . .

AMF Blacklists 70 Brokers, Including GAINSY

7 May 2015, Paris, France - AtoZ Forex - In accordance with its regular duty of keeping a close watch on the financial system, France's Autorite des marches financiers (AMF), has again updated its FX black list. This is a list of unlicensed firms selling FX trading products and services to individuals within its jurisdiction without due authorization from the relevant regulatory body.