Trading-Gurus.com » FXCM

Alpari UK Introduce MetaTrader 4 Spread Betting

Jim — Thu, 10 Nov 2011 15:18:04 +0000

It's been quite a long wait, but Alpari UK have announced today that they are now the second broker to offer automated spread betting using the MetaTrader 4 platform to UK residents. According to their news release:

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FXCM Settles CFTC Charges For More Than $14.2 Million

Jim — Mon, 03 Oct 2011 19:01:31 +0000

At last we know the answer to the questions posed by FXCM themselves back in August following settlement of charges brought by the NFA, when they revealed that:

FXCM has set aside a $16 million reserve for the…. anticipated CFTC settlement.

Yet again the CFTC have simultaneously:

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Gain Capital Will Acquire Interbank FX

Jim — Tue, 27 Sep 2011 17:07:11 +0000

According to Michael Greenberg over at ForexMagnates his:

Sources reveal that Gain Capital is about to seal the deal with Interbank FX. No information is yet known and neither company confirmed the information – naturally because Gain is a public company. More details are expected soon.

We have speculated here on the likelihood of continuing consolidation in the retail forex "industry", particularly following the IPOs of GAIN and FXCM. No doubt the trend will continue for a while yet in the wake of regulatory changes, not to mention the activities of those regulators' lawyers! In all the circumstances it's an interesting coincidence that we mentioned IBFX in passing only this morning. Assuming that the acquisition goes ahead as Michael suggests, perhaps Forex.com will eventually start marketing EAs that don't work terribly well to their customers too? They do operate a dealing desk after all!

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CFTC Sues British Registered Broker

Jim — Fri, 09 Sep 2011 12:39:18 +0000

Fresh from agreeing a settlement with FXCM's UK subsidiary, the CFTC has stepped up its campaign in the courts against "unregistered" RFEDs by announcing that it is bringing civil actions against another 11 foreign currency firms. As in their first such sweep a number of those firms are based in far away places such as Belize, the British Virgin Islands and Cyprus. However two names stand out in the CFTC's blacklist of miscreants as being more "onshore" than the others, namely:

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FXCM Fined $2 million by the NFA

Jim — Sun, 14 Aug 2011 12:44:17 +0000

Fresh from having their UK subsidiary fined by the CFTC earlier this month, FXCM have now been fined $2 million by the National Futures Association. Once again the complaint against FXCM and their CEO Drew Niv and details of the agreed settlement have been published simultaneously. Once again FXCM neither admit nor deny the allegations in the complaint, which concern FXCM's failure to pass on positive slippage from their liquidity providers to their customers, and lapses in their anti money laundering procedures. However this time around FXCM's customers do stand to benefit financially since one of the agreed sanctions states that:

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FXCM UK Fined $140,000 by the CFTC

Jim — Thu, 04 Aug 2011 08:53:14 +0000

Last October we wondered what steps the CFTC would be able to take to enforce the new forex trading regulations that had just come into force, particularly when it came to pursuing offshore brokers in offshore courts. Back in January they sued a few brokers using the US courts. Now they have used a different approach, which still hasn't required the CFTC to state their case in a foreign jurisdiction. It seems all they need to do is to ask nicely for some money!

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FXCM's Rocky Road to Japanese Riches

Jim — Sat, 02 Apr 2011 16:26:13 +0000

We suggested just after Christmas that FXCM were building an acquisitions war chest, and that's how things are now starting to pan out. At the beginning of this month the Wall Street Journal reported that:

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FXCM Accused of Fraud in Class Action Lawsuit

Jim — Thu, 10 Feb 2011 15:16:59 +0000

In a press release issued earlier today The Business Trial Group of Morgan & Morgan, P.A. announced that it had filed a class action lawsuit today against Forex Capital Markets, LLC (FXCM) alleging fraud and racketeering. My thanks to Michael Greenberg over at ForexMagnates for bringing this interesting piece of news to my attention.

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Dealing Desk or No Dealing Desk – Forex.com or FXCM?

Jim — Tue, 01 Feb 2011 15:35:35 +0000

Following their recent IPOs US brokers GAIN Capital and FXCM now seem to be engaged in a battle for the hearts and minds of retail forex traders instead of investors in their respective businesses. In a press release today FXCM announced a new section on their website which they call the FXCM Forex Execution Center. I can't help but wonder if that announcement is in any way related to the new Pricing and Execution section on GAIN's Forex.com website and their Trade Execution Scorecard, which was announced in a press release yesterday.

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FXCM on the Acquisitions Trail After IPO?

Jim — Fri, 07 Jan 2011 13:37:51 +0000

Earlier this week Robert Lande, chief financial officer of US broker FXCM Inc, was interviewed on Bloomberg about the prospects for FXCM following their recent IPO. Robert also talked about the prospects for retail forex in general. Here's that interview:

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