13 Feb 2017, Washington, DC, USA - LeapRate - LeapRate has learned from court documents that retail forex broker FXCM Inc (NASDAQ:FXCM), recently banned from the US forex market, has agreed to pay a $650,000 fine in settlement of charges that it was undercapitalized, and slow to report its capital position, in the wake of the January 15, 2015 spike in the value of the Swiss Franc. We had reported that the CFTC had announced that it was looking . . .
10 Feb 2017, Bedminster, NJ, USA - FinanceFeeds News - GAIN Capital will pay $500 for each transferred client account which executes at least one new trade during the first 76 calendar days after the closure of the purchase agreement. Further to FinanceFeeds' report about Gain Capital Holdings Inc (NYSE:GCAP) entering into a definitive agreement to acquire the US retail FX accounts of FXCM Inc (NASDAQ:FXCM), we have become aware of financial . . .
8 Feb 2017, New York, NY, USA - SMN Weekly - US law firm Bragar Eagel & Squire has launched an investigation on potential claims against forex brokerage FXCM Inc. (NASDAQ:FXCM) concerning possible violations of the federal securities laws, the company announced in a statement. The firm addressed in the statement shareholders of FXCM (which is traded on the NASDAQ) with the plea to contact it if they have been affected by the share price movement . . .
7 Feb 2017, Bedminster, NJ, USA - PRNewsWire - Former FXCM clients will be transferred to FOREX.com. GAIN Capital Holdings, Inc. (NYSE: GCAP) ("GAIN" or "the Company"), a global provider of online trading services, announced that it has entered into a definitive agreement to acquire the client base of FXCM's U. S. operations. For the 3 months ended December 31, 2016, average daily volume from customers of FXCM's U. S. operations was approximately $2.
7 Feb 2017, New York, NY, UkSA - LeapRate - Continuing the amazing drama in the wake of the ban of retail forex broker FXCM Inc (NASDAQ:FXCM) and its CEO Drew Niv from the US FX market, and the subsequent sale of FXCM's US clients to rival Gain Capital Holdings Inc (NYSE:GCAP), LeapRate has learned that FXCM has made filings with US regulators that it plans to terminate about 150 employees. The 150 employees represent about 18% of FXCM's global . . .
7 Feb 2017, London, UK - SMN Weekly - Online social trading platform and broker Darwinex announced on Tuesday it has terminated its relationship with the newly-delicensed US arm of forex broker Forex Capital Markets (NASDAQ:FXCM) and will no longer serve it as an introducing broker (IB). Earlier on Tuesday we informed you Forex Capital Markets LLC, the brokerage's US arm, has been banned by the US National Futures Association (NFA) and has agreed . . .
6 Feb 2017, Washington, DC, USA - CFTC - Parent company, FXCM Holdings, LLC and FXCM's founding partners, Dror Niv and William Ahdout are held responsible. FXCM, Niv, and Ahdout are prohibited from registering with the CFTC, acting in exempt capacities or acting as principals, agents, officers or employees of registrants. CFTC's order also holds FXCM, Niv, and FXCM Holdings responsible for FXCM's false statements to the National Futures Association.
6 Feb 2017, Chicago, IL, USA - NFA - National Futures Association (NFA) has barred New York retail foreign exchange dealer Forex Capital Markets, LLC (FXCM) from membership. NFA also barred FXCM principals Dror Niv, William Ahdout, and Ornit Niv from 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 issued by the BCC and a settlement offer submitted . . .
5 Dec 2016, New York, NY, USA - FinanceFeeds Press Release - Forex Capital Markets LLC, ("FXCM US" or "FXCM" ) the US entity of FXCM Inc. (NASDAQ:FXCM), a global online provider of foreign exchange (FX) trading and related services, announced today Live Trading Integration with QuantConnect, a leading cloud-based algorithmic trading platform for strategy creation, backtesting and deployment. Paired with the power of FXCM's No Dealing Desk (NDD) . . .
16 Nov 2016, Johannesburg, South Africa - FXCM Press Release - FXCM Inc. (NASDAQ:FXCM), a leading online provider of foreign exchange (FX) trading, Contract for Difference (CFD) and related services, announces the opening of its newest office, FXCM South Africa, based in Johannesburg. "We're excited to expand FXCM and our retail forex business to South Africa," said Drew Niv, CEO of FXCM. "There is a growing interest for forex trading in the . . .
6 Oct 2016, Chicago, IL, USA - LeapRate - Introducing 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 also ordered to pay a $15,000 fine.
30 Sep 2016, London, UK - LeapRate - Well it looks as if FXCM still does have some salable assets. IG GroupContinuing its parade of asset sales in order to repay its high-interest loan from Leucadia National Corp (NYSE:LUK), retail forex broker FXCM Inc (NASDAQ:FXCM) has sold its very popular research, education and market news website DailyFX to UK online trading giant IG Group Holdings plc (LON:IGG) for $40 million. Cash of $36 million will be . . .
29 Sep 2016, Israel - LeapRate - Israeli financial regulator the Israel Securities Authority (ISA) has issued a Dealers' license to five Retail Forex brokers, allowing them to formally begin taking on Israel-based traders. The licenses take effect as of October 31, 2016. New Israeli regulations took effect effect in July covering different aspects of online trading. The ISA has been taking aggressive moves lately to reform the way online (and . . .
14 Sep 2016, New York, NY, USA - FXCM Press Release - FXCM Inc. (NYSE:FXCM), a leading online provider of forex trading, Contract for Difference (CFD), and related services, released historical data on the lowest average spreads for the most popular currency pairs, exclusively on Standard and Active Trader accounts, featuring No Dealing Desk Execution. Traders now have access to the 2015 Historical Spreads Report, and the FXCM Historical Data . . .
13 Sep 2016, New York, NY, USA - FXCM Press Release - FXCM Inc has decided to change its listing venue to join growth oriented tech companies on NASDAQ. FXCM Inc. (NYSE:FXCM) today announced that it is transferring its stock exchange listing to The NASDAQ Global Market. The last day of trading on The New York Stock Exchange, will be Friday September 23, 2016. FXCM shares will begin trading as a NASDAQ-listed security on the following trading day, . . .
1 Sep 2016, New York, NY, USA - Finance Magnates - The new agreement will give FXCM more time to raise funds to repay its debt by shedding noncore assets. Retail foreign exchange broker FXCM has just announced a new partnership agreement with Leucadia National Corp. , the investment company that bailed out FXCM after the Swiss National Bank event in January 2015. The new agreement between FXCM and Leucadia redrafts the terms of the amended credit . . .
22 Aug 2016, Washington, DC, USA - SMN Weekly - Forex Capital Markets (FXCM), US' leading forex broker, denied the accusations of the US Commodity Futures Trading Commission (CFTC) that it had failed to timely report undercapitalization violation and that it had guaranteed against customer losses at the time of the crisis in January 2015 resulted from the unpegging of the Swiss franc (CHF) from the Euro (EUR). On Friday, the CFTC issues a . . .
22 Aug 2016, New York, NY, USA - FinanceFeeds News - "The court cannot find conscious misbehavior or recklessness when defendants' business model had a successful track record and market investors were shocked by the SNB's decision. " Judge Kimba M Wood. On Thursday this week, US District Judge Kimba M Wood dismissed a shareholder class action lawsuit against FXCM, in which investors claimed that the company made false statements about its . . .
18 Aug 2016, Washington, DC, USA - CFTC - The U. S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U. S. District Court for the Southern District of New York against Forex Capital Markets, LLC (FXCM), charging FXCM with undercapitalization, failure to timely report its undercapitalization violation, and guaranteeing against customer losses. FXCM, with headquarters in New York, New York, is registered with the . . .
13 Jul 2016, New York, NY, USA - Finance Magnates - FXCM is aiming to reduce its debt in the coming weeks after filing with the SEC a prospectus indicating sale. FXCM Inc. (NYSE:FXCM) has filed with the SEC a prospectus which is outlining the intentions of the company to issue up to $125 million worth of new securities. There is no specific mention of what type of securities those might be, with shares, preferred shares and bonds all on the table.
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 . . .
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 . . .
6 Jan 2016, London, UK and Ratingen, Germany - GlobeNewsWire - FXCM Inc. (NYSE:FXCM), is a leading online provider of foreign exchange (forex) trading, Contracts for Difference (CFDs) and related services, announced today its new partnership with German broker FXFlat. "FXCM is pleased to partner with FXFlat, a dominant player in Germany," says Brandon Mulvihill, Managing Director of FXCM PRO. "The numerous awards FXFlat received in 2015 and the . . .
29 Oct 2015, Paris, France - AtoZ Forex - Following up on earlier reports about FXCM's issues with the The Autorite des Marches Financiers (AMF), the French financial regulators have now levied a fine upon the broker for violations of codes of conduct, after a hearing was held about a week back. It was discovered by the AMF that between 2009 and 2011, FXCM housed three money managers. Who were at the time unauthorised to carry out activities of . . .
14 Sep 2015, New York, NY and Hong Kong - FXCM Press Release - FXCM to pay an additional $33 million owed to Leucadia. 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 completed its sale of FXCM Asia Limited ("FXCM Hong Kong") to Rakuten Securities, Inc. ("Rakuten Sec"), a top 5 FX broker in Japan, and a . . .
9 Sep 2015, New York, NY, USA - FXCM Press Release - FXCM Inc. (NYSE:FXCM) ("The Company") a leading online provider of foreign exchange (FX) trading and related services, announced that it was notified on September 3, 2015 by the New York Stock Exchange (" NYSE ") that it is not in compliance with the continued listing standards set forth in Section 802. 01C of the Listed Company Manual of the New York Stock Exchange, Inc. because the average . . .
8 Sep 2015, Washington, DC, USA - CFTC - The U. S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges against Forex Capital Markets, LLC (FXCM), a registered Futures Commission Merchant, for failing to diligently supervise its officers', employees', and agents' handling of accounts held at FXCM in the name of a fraudulent foreign currency exchange pool, Revelation Forex Fund, LP (RFF). RFF was operated by . . .
10 Aug 2015, New York, NY, USA - LeapRate - LeapRate takes a deeper look at understanding FXCM's half-billion dollar loss in 1H-2015 and why FXCM shares are trading so low. Poor FXCM. They had the indignity of not only losing upwards of $275 million (in the form of negative client balances) due to the 'Black Thursday' Swiss Franc spike, requiring a very onerous bailout rescue loan from Leucadia National Corp (NYSE:LUK), but they did so on January 15.
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. FXCM UK is a . . .
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") . . .
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, . . .
20 Mar 2015, New York, NY, USA - Wall Street Journal - Foreign-exchange broker to offer clients protection for the first $50,000 of losses over a 24-hour period. FXCM Inc. on Friday updated its negative-balance policy, offering clients protection for the first $50,000 of losses over a 24-hour period. Clients will be responsible for negative balances-aggregated across all FXCM accounts-above that amount, regardless of market conditions. A . . .
16 Jan 2015, New York, NY, USA - FXCM Press Release - Leucadia National Corporation (NYSE: LUK) and FXCM (NYSE: FXCM) today announced that Leucadia would be providing $300 million in cash to FXCM and its subsidiaries (collectively "FXCM") that will permit FXCM to meet its regulatory-capital requirements and continue normal operations after yesterday's loss of $225 million due to the unprecedented actions of the Swiss National Bank. Under the . . .
16 Jan 2015, New York, NY, USA - Bloomberg Business - FXCM Inc. , the brokerage facing a shortfall of nearly a quarter-billion dollars after highly-leveraged investors made losing bets on the Swiss franc, pushed back against U. S. regulatory efforts that likely would have left it less vulnerable. In 2010, the Commodity Futures Trading Commission sought to force individual investors trading currencies to give their broker 10 cents in capital to . . .
27 Oct 2014, New Brunswick, Canada - Finance Magnates - The New Brunswick's Financial and Consumer Services Commission (FCNB) announced on Friday that its local Financial and Consumer Services Tribunal has approved a settlement agreement between Forex Capital Markets (NYSE: FXCM) the Manitoba Securities Commission and the FCNB, which requires FXCM to pay administrative penalties for non-compliance with the local securities laws. In Canada, the . . .
22 Sep 2014, New York, NY, USA - FXCM Press Release - On average the new pricing model reduces trading costs by 50% on Top 14 currency pairs. FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its US subsidiary Forex Capital Markets LLC ("FXCM US") has introduced a new retail FX pricing model. FXCM US platforms will now display raw spreads and mark-ups previously . . .
5 Sep 2014, New York, NY, USA and Sidney, Australia - FXCM Press Release - FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its subsidiary FXCM Holdings LLC, has signed a definitive agreement with IBFX, Inc. and IBFX Australia Pty Ltd to acquire their U. S. and Australian MetaTrader 4 ("MT4") retail forex accounts ("IBFX MT4 Accounts"). "FXCM welcomes the IBFX . . .
18 Jul 2014, Chicago, IL, USA - NFA - National Futures Association (NFA) has ordered Forex Capital Markets LLC (FXCM), an NFA Member and Commodity Futures Trading Commission (CFTC) registered retail foreign exchange dealer located in New York City, to pay a $200,000 fine. NFA issued the fine to FXCM for conducting business with an unregistered entity that was required to be registered with the CFTC as a commodity pool operator (CPO) and an NFA . . .
7 May 2014, New York, NY, USA - FXCM Press Release - FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its U. S. subsidiary, Forex Capital Markets LLC ("FXCM U. S. "), has signed a definitive agreement with FXDirectDealer LLC ("FXDD") to acquire their U. S. retail forex accounts ("FXDD U. S. Accounts"). FXCM will be acquiring approximately $27 million in client equity . . .
9 Apr 2014, New York, NY, USA - FXCM Press Release - FXCM Inc. (NYSE:FXCM), a leading online provider of forex trading and related services, has deployed USD/CNH trading to all clients on all platforms excluding Japan. FXCM traders around the world will now have the opportunity to trade their opinion on the world's second-largest economy, and a major influencer in international finance - China. "We are excited to offer the USD/CNH across . . .
26 Feb 2014, London, UK - FCA - The Financial Conduct Authority (FCA) has fined Forex Capital Markets Ltd and FXCM Securities Ltd ("FXCM UK") 4,000,000 pounds for allowing the US based FXCM Group to withhold profits worth approximately $10 million that should have been passed on to FXCM UK's clients.
24 Jan 2014, Tokyo, Japan - Finance Magnates - It was announced today by FXCM that the company's Japanese operation is no longer subject to a Business Improvement Order which was issued in July 2012 by the Kanto Financial Bureau. Upon the lifting of the business improvement order, FXCM states that it has worked extensively over the past year and a half to enhance and strengthen its internal control systems including its risk management system.
23 Jan 2014, New York, NY, USA and Tokyo, Japan - FXCM Press Release - FXCM Inc. (NYSE:FXCM) today announced that the Business Improvement Order issued by the Kanto Financial Bureau in July 2012 has been lifted for its Japan entity, FXCM Japan Securities Co. , Ltd. ("FXCMJ"). FXCMJ has worked extensively over the past year and a half to enhance and strengthen its internal control systems including its risk management system. FXCMJ has also . . .
13 Jan 2014, London, UK - FXCM Press Release - Company awarded for client satisfaction, education and research. FXCM UK (www.fxcm. co. uk), a leading provider of foreign exchange trading and related services, has been awarded a series of accolades by UK retail traders. Following an in-depth study of more than 13,000 UK-based retail investors, a report by Investment Trends, a specialist research organisation, identified FX and spread betting . . .
23 Sep 2013, New York, NY, USA - LeapRate - Very little money changed hands, for FXCM to acquire Alpari US's $10 million in client assets. As we predicted would happen, all but the largest US retail forex brokers are one by one deciding to exit the US market, and focus their efforts elsewhere. The problem has nothing to do with the true dynamics of the US market, which remain strong. The problem is the (over-)regulation of the US retail forex . . .
23 Sep 2013, New York, NY, USA - Business Wire - FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and related services worldwide, today announced that it has acquired a 50. 1% controlling interest in Faros Trading LLC ("Faros"). Financial terms were not disclosed. Faros Trading is a global leader in foreign exchange intelligence, market coverage, and execution services to the institutional foreign exchange market.
15 Jul 2013, New York, NY, USA and Hong Kong - FXCM Press Release - FXCM Inc. (NYSE:FXCM) ("FXCM"), a leading online provider of foreign exchange trading, today announced it will join forces with CITIC Newedge Futures Co. , Ltd. ("CITIC Newedge Futures", previously known as "CITIC Futures Brokerage Co. , Ltd. "), in a strategic partnership to open a new gateway for first-class forex platform in China. Starting July 12, the partnership will . . .
25 Apr 2013, New York, NY, USA - FXCM Press Release - FXCM Inc. (NYSE: FXCM) today announced that in light of the recent announcement by GAIN Capital Holdings, Inc. ("GAIN") of a definitive agreement to purchase Global Futures and Forex, Ltd. ("GFT"), FXCM is withdrawing its previously announced proposal to merge with and acquire GAIN. "The cash consumed in the acquisition of GFT fundamentally impacts the balance sheet and capital synergies that . . .
9 Apr 2013, New York, NY, USA - FXCM Press Release - Combined company expected to be accretive to all parties. Proposed Acquisition Highlights: Would create an industry leader with potentially significant benefits of improved scale economics Pro forma 2012 revenues of ~$569 million, client assets of ~$1. 6 billion(1) and estimated post-synergy run-rate Adjusted EBITDA of between ~$163 and ~$183 million(2) Potential significant operating synergies . . .
19 Mar 2013, Sydney, Australia - Business Wire - Global foreign exchange broker, FXCM (NYSE: FXCM), is Australia's preferred FX provider for its overall quality of service according to Investment Trends Forex Report 2012. The report shows that FXCM has maintained its lead overall in a majority of individual service areas voted trader's favourite when it comes to customer service, education, trading platform features and research tools. According . . .
9 Jan 2013, New York, NY, USA - Business Wire - FXCM and Tradency are upgrading their business cooperation to a mass market model. FXCM Inc. (NYSE:FXCM), a global online provider of forex trading and Tradency, originator of the Mirror Trading concept and developer of Forex trading platform - Mirror Trader; have elevated their business activity level and are now offering Mirror Trader solutions to FXCM's entire client base. Under the new agreement, . . .
27 Sep 2012, London, UK - Barclays - Barclays Stockbrokers partners with FXCM to deliver 'Barclays Margin FX' - a unique retail FX trading offering. Enhanced trading platform provides access to 50 currency pairs and bespoke research. Barclays Stockbrokers, the UK's largest execution-only retail broker, today announces it has launched Barclays Margin FX - a new and significantly enhanced retail foreign exchange trading platform . . .
15 Aug 2012, Beirut, Lebanon - Business Wire - FXCM has been recognized by the 2012 IBTIMES Trading Awards for Best Forex Execution in the Middle East. FXCM is honored to be recognized for this award by IBTIMES and by the local trading communities. Established at the end of 2009, FXCM MENA was created to cater to traders across the Middle East & North Africa and has since become one of the most recognized Forex brokers in the region. Bringing to . . .
17 Jul 2012, New York, NY, USA - FXCM Press Release - Investment Trends' 2012 United States Foreign Exchange Report names FXCM number one in overall client satisfaction, online education materials, and forex provider. FXCM US has been recognized as the number one forex broker in several categories by the global market research group Investment Trends in their April 2012 United States Foreign Exchange Report. The awards were given for overall . . .
3 Jul 2012, Berlin, Germany - FXCM Press Release - Investment Trends 2012 Germany CFD & FX Report names FXCM the number one FX Education Provider, CFD Broker for Overall Client Satisfaction, and best Charting Package and Range of Research Tools for both CFD and FX traders. FXCM Deutschland, has been recognized as the number one Forex and CFD broker in Germany in multiple categories by market research report Investment Trends April 2012 Germany CFD . . .