In a press release today FXCM have announced that:
Its U.K. subsidiaries, Forex Capital Markets Limited and FXCM Securities Limited, [have] entered into a settlement with the Financial Conduct Authority (“FCA”). The settlement addresses trade execution practices concerning the handling of price improvements on FXCM UK’s offsetting orders from August 2006 – December 2010.
Filed under Regulation by
It's all go on the mergers, acquisitions and transfers front this week! Swissquote Bank announced in a press release earlier today that:
Swissquote Bank is acquiring a 100 percent holding in MIG Bank effective 25 September 2013. The acquisition of this major forex broker secures Swissquote Bank a place among the world’s largest forex service providers. The goal is to merge MIG Bank with Swissquote Bank.
In a news release yesterday FXCM announced that:
Its U.S. subsidiary Forex Capital Markets LLC has agreed to assume the forex accounts of Alpari US LLC.
On Friday, September 27, 2013, accepted Alpari U.S. accounts will be transferred to FXCM U.S. after the close of trading.
Ray Robot II™ has now been running his live spread betting test comparing Alpari UK with GKFX for over a month. We're rather obsessive here at the Trading Gurus, and we've noticed a variety of interesting differences between Ray's four experimental accounts during that time. Some observers have however suggested to us that all that matters in a trading account is "the bottom line". Whilst we humbly disagree with that assertion, Ray is nonetheless now proud to announce that there is at last a difference between the bottom line of his Alpari accounts (currently standing at £255.00) and his GKFX accounts (currently standing at £261.00). There are any number of other (less significant?) differences also.