More Changes for FXCM

FXCM announced earlier this week that it will be changing its company name to Global Brokerage, Inc. and that its stock trading ticker will be changed to GLBR as of market opening on February 27, 2017.FXCM

The company also announced that its Director and Chairman of the company’s Board of Directors, Drew Niv, has resigned, and that he will be replaced immediately with Brian Reyhani as Chairman of the company’s Board of Directors.  Mr. Niv will also relinquish his post as the company’s CEO, to be replaced by interim CEO Brendan Callan, who has been the CEO and President of European Operations subsidiary since 2010.

Jimmy Hallac, a Managing Director of Leucadia, the company that bailed out FXCM following the Swiss National Bank crisis in 2015, has been appointed as Chairman of the FXCM Group, after William Adhout resigned this week as Director of the Board.

Despite the changes in the company’s executive structure, FXCM (or Global Brokerage, Inc.) remains committed to putting its customers first and is expected to remain a leading global Forex brokerage. Commenting on the appointments, Leucadia’s CEO Rich Handler and President Brian Friedman commented:  “We are very excited to have Brendan and Jimmy in their new roles.  We believe that, under their leadership, FXCM Group will be able to continue to enhance and grow its global platform and customer offering.   Brendan and Jimmy share our deep commitment to always putting clients first, maintaining and building a culture of transparency, communication and support among employees, and responding to the needs and goals of all relevant constituencies, including FXCM’s customers, employees, regulators, business partners and equity owners.”

FXTM Gears Up to Reveal New Partnership with Sahara Force India

Global award-winning broker FXTM is the official forex partner of the Sahara Force India Formula One™ Team.

This prestigious partnership heralds a fantastic 2017 for both teams, who each rose to new heights in 2016. Sahara Force India captured the attention of Formula One™ fans and international media when they stormed into fourth place in the Constructors Championships, beating top names McLaren and Williams. New partners FXTM had an equally successful 2016, adding a number of prestigious awards – including Top Customer Service Provider – to their trophy case.FXTM

“The parallels between Sahara Force India and FXTM are striking,” says Olga Rybalkina, CEO of ForexTime Limited. “They too are a young, dynamic team who have taken on established, big name competitors and come out on top. Just like us, they owe their success to innovation, speed, and their dedication to training.”

It is a focus on training and speed that has enabled FXTM to dominate the global forex market. Launched in 2011, the broker’s pioneering approach to client education sets it apart from other industry leaders. Its Market Analysis team provide twice daily commentaries on market movements, and work alongside a dedicated Education department to deliver seminars, workshops, lectures, and events to traders across the globe. This, coupled with lightning fast execution speeds and pioneering products — including a newly launched Gold Bullion service — has further established FXTM as an industry leader.

“Education, training, and excellence drive our brand,” says Rybalkina, “And it is important to us that our partners embody those values. For this reason, we are incredibly proud to be supporting Sahara Force India, and look forward to an exciting year of racing.”

With the first test in Barcelona in less than a week, the 2017 season certainly promises excitement. Sahara Force India is fielding a new driver pairing, the promising young Esteban Ocon will join team stalwart Sergio Pérez. With new aerodynamic rules and tyre widths also coming into force this year, they will be tackling some of the biggest changes to the sport in recent history. Experts predict the changes will herald faster lap times and more overtaking; heightening the parallels between Formula One™ and forex trading.FXTM

“The current turmoil in the currency markets creates exciting opportunities for traders,” says Rybalkina, “Which is why FXTM is committed to providing our clients with the training resources and advanced trading tools they need to perform at their best. It is this dedication to training, innovation, and speed that sets us apart from our competitors and enabled us to challenge the bigger brokers. It is an approach we share with Sahara Force India, and we believe that our new partnership will help propel both teams to the top of the leader board in 2017.”

 

Disclaimer: The content in this article comprises personal opinions and ideas and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.

NOTES TO EDITORS

The FXTM brand provides international brokerage services and gives access to the global currency markets, offering trading in forex, precious metals, Share CFDs, ETF CFDs and CFDs on Commodity Futures. Trading is available via the MT4 and MT5 platforms with spreads starting from just 1.3 on Standard trading accounts and from 0.1 on ECN trading accounts. Bespoke trading support and services are provided based on each client’s needs and ambitions – from novices, to experienced traders and institutional investors. ForexTime Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC), with license number 185/12, licensed by the SA FSB with FSP number 46614, and registered with the UK FCA under reference number 600475. FT Global Limited is regulated by the International Financial Services Commission (IFSC) with license numbers IFSC/60/345/TS and IFSC/60/345/APM.

 

FXCM Exits the U.S. Market

FXCMOn February 6, 2017 leading Forex broker FXCM announced a settlement with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in which the company agreed to withdraw from all activities and services in the United States and transfer all of its existing accounts to GAIN Capital Holdings, the parent company of Forex.com, pending the confirmation of a final agreement. FXCM will also pay a $7 million fine to the CFTC for engaging in false and misleading solicitation of clients, an accusation which FXCM neither confirms or denies despite its agreement to the proposed settlement and fines.

Until now, FXCM was considered the largest retail Forex broker in the U.S., enjoying approximately 34% of the market share. Withdrawal from the U.S. market will liquidate approximately $52 million for FXCM, which will use the money to repay part of the loan that it took from Leucadia National Corporation following the Swiss National Bank crisis in 2015. FXCM is a publicly traded company on the NASDAQ and its stock price is expected to fall sharply with Tuesday’s New York open, falling further from the lows it’s been struggling with in recent months.

FXCM will continue to service its U.S. clients until a formal agreement is reached with GAIN Capital, and it has stated in a press release that the decision to withdraw from the U.S. Forex industry will have no bearing on its ability to continue providing top notch service to traders in other parts of the world.

AvaTrade Partners with FutexLive to Provide Trading Courses

AvaTrade, an internationally-regulated Forex broker, has announced its partnership with FutexLive, an interactive online trader knowledge portal whose goal is to help traders learn how to trade profitably. FutexLive offers Forex learning at a quick speed to help traders develop an edge in their trading as soon as possible.AVATrade

FutexLive also offers live daily market analysis and educational classes that provide traders with an in-depth understanding of market movements, how to read technical charts and other topics that are critical for anyone who wants to become a long-term trader.

AvaTrade was launched in 2006 and has become one of the leading Forex brokers worldwide, with regulation in the European Union, Japan, Australia, South Africa and the British Virgin Islands. The brokerage offers currency and commodity trading, CFD trading and spread betting opportunities. To learn more, read our full AvaTrade review.

eToro Launches CopyFunding to Merge Thematic Investing with Social Trading

EtoroeToro, an innovative and socially-conscious Forex brokerage announced last week its latest offering, the CopyFunding platform.  Unveiled on November 8 at the 2016 Web Summit in Lisbon, CopyFunding allows traders to focus their trades on specific sectors or to follow successful social traders who are have used the eToro social trading platform to trade profitably over extended periods of time.  This type of thematic investing has become popular worldwide, and is often used by stock and currency traders to keep their focus on trading assets that they think have the best potential for growth.

A New Twist on eToro Social Trading

One example of a market-based CopyFunding opportunity would be to follow the “InTheGame” CopyFund, which is comprised of holdings of top assets in the gaming sector, such as CFD stocks of EA, Activision, Sony and more.  Traders looking to follow other traders, rather than specific sectors of their own choosing, can opt for “Top Trader CopyFunds,” which are comprised of the best traders on eToro.  To identify these top traders, eToro’s algorithm searches over 5 million of the company’s traders, determines which of those traders will be the most likely to be profitable in the next quarter, and creates eToro CopyFunds from these top traders based on different parameters, such as the risk-reward ratio.  Traders can then choose which Top Trader CopyFund to follow based on which best suits their personal trading style.

To celebrate the launch of this exciting new product, eToro is currently offering 0% management fees for traders using CopyFunding.  A minimum of $5000 is required to begin using CopyFunding.

Learn more about eToro in our comprehensive eToro review, and decide if this is the right investment product for your specific needs.

DailyForex App Adds Push Notifications for Price Alerts

The Company’s Android and iOS Apps Keep Traders Updated Around the Clock

FORT LAUDERDALE, Fla.Nov. 15, 2016PRLog — DailyForex, a company that provides currency traders with updates and analysis about the currency markets, has announced today the update of its Android and iOS DailyForex mobile application to include instant push notifications that will alert traders every time certain price triggers are hit.

DailyForex’s new alerts service sends immediate, easy-to-follow push notifications to all users when significant price events happen to the major currency pairs. The company’s trading team discovered that most typical, generic offerings are mainly indicator or news-based, and therefore they tend to simply generate noise rather than provide a real value to Forex traders. To solve this problem, the company’s talented technical team worked diligently with its daily traders to create a notification system that would be based upon real-time market triggers.

“Traders tend to find better success when they focus on the price and not lagging indicators,” said Adam Lemon, chief analyst at DailyForex. “I know that these notifications will help thousands of users, and I hope we can expand this feature soon to make it even more useful.”

The result was a push notification system based solely upon significant, relative price events which have been used for centuries as basic building blocks by professional traders to good effect. Each push notification has a direct headline that tells traders of the market action, which opens into a more detailed message explaining the significance of the price event.

About DailyForex

DailyForex was established out of a strong need for a Forex website that provides all the information necessary to become a successful Forex trader. DailyForex.com provides in-depth reviews of Forex brokers, signal providers, online and offline Forex courses, as well as Forex products. Our goal is to provide both new and experienced Forex traders with a set of clear and easy-to-use tools that will enable them to make educated decisions when choosing any type of Forex-related service.

http://www.dailyforex.com

Kawase Appoints New CEO

Kawase, a Forex broker that is based and regulated in Cyprus, is happy to announce the appointment of a new CEO, Alex Katsaros. With a BA in accounting and an MBA in finance, Mr. Katsaros bring with him both proper educational training and on-the-job experience that will should help him propel Kawase forward as a leading Forex brokerage.

Prior to joining Kawase Mr. Katsaros was the Head of Product Development for cTrader, the trading platform that is currently used by Kawase and many other Forex brokerages. Mr. Katsaros began his career as a professional trader and maintains numerous licenses and professional certifications including a CySEC advanced license and CISI’s Investment Management certificate.

About his recent appointment, Mr. Katsoras said: “I am very honoured and excited to expand our services and introduce Kawase’s ethos, transparency and great service to more clients around the globe. My vision is for Kawase to be the leading cTrader broker by leveraging our deep understanding of the platform. Our efforts will be focused around our core values: fairness, transparency, innovative technology and high quality support.”

The appointment coincided with the company’s recent rebranding and redesign efforts which have created a sharper, more intuitive website. The company’s efforts to provide top-notch technical solutions with an easy-to-follow website and top notch customer support make it a brand that is worth trying. To learn more about Kawase and its offerings, read our full Kawase review.