Check out the latest breaking news from the dynamic world of forex trading. Maintain your edge with up-to-the-minute coverage of the latest regulatory changes, industry conferences, broker developments and more.
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The National Futures Association (NFA) imposed a $600,000 fine on Forex broker IBFX last week over irregularities in reporting. IBFX was formerly known as InterbankFX and is still referred to under this name.
The US government shutdown is now entering its third week. All non-essential operations have been closed and hundreds of thousands of federal employees have been sent home. Despite the House of Representatives vote to pay these workers retroactively once the shutdown ends, many citizens are suffering mental and physical hardships due the impact of the prolonged financial impasse.
Continuing in its ongoing expansion efforts, US based Forex broker FXCM, a leading online provider of foreign exchange, announced the purchase of 50.1% of foreign exchange intelligence company Faros Trading LLC. No further details of the transaction were made available.
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GAIN Capital Holdings, Inc. (GCAP) announced that it has signed a definitive agreement to acquire Global Futures & Forex, a provider of retail Forex and derivatives trading with offices in London, Singapore, Tokyo, Sydney and Grand Rapids, Michigan. Both companies will initially retain their separate brand identities.
The U.S. Commodity Futures Trading Commission (CFTC) issued a $1.1 million fine and a $1.8 million restitution order against FXDD, a New York-based FX company. FXDirectDealer, LLC is registered with CFTC as a Futures Commission Merchant.
It's official - FXCM will be taking over the Forex accounts of Alpari US LLC. ("Alpari U.S."). After the close of trading on Friday, September 27, 2013, all Alpari U.S. accounts will be transferred to FXCM US FXCM is a leading online provider of Forex trading to retail and institutional customers worldwide.
Peter Cruddas's financial trading company, CMC Markets, continues to falter with the media reporting a pre-tax loss of £2.8 million within the accounting period from January to March, compared to a £2.5 million pre-tax profit during the same period for the previous year.
Interactive Brokers, a US-based online brokerage, can no longer offer margin to its Australian clients. According to Australia's financial markets regulator, ASIC, Interactive Brokers did not have the proper broker's license to extend margin loans to its traders.