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FXCM’s Leucadia Loan Balance at $70m, Over $15m Repaid in 2018

FXCM’s Leucadia Loan Balance at $70m, Over $15m Repaid in 2018

Investment banking giant Jefferies filed its quarterly report with the SEC last night. The document provides details about the progress of the loan agreement between Leucadia National and FXCM. Back in 2015, Jefferies bailed out the forex brokerage company with a $300 million loan. The terms of the agreement between the firms ensured that the creditor wouldRead more about FXCM’s Leucadia Loan Balance at $70m, Over $15m Repaid in 2018[…]

Texas Securities Commission Orders FX Broker GoForex to Cease and Desist

Texas Securities Commission Orders FX Broker GoForex to Cease and Desist

Travis Iles, the Texas Securities Commissioner, has entered an Emergency Cease and Desist Order this Wednesday against a suspicious forex broker – GoForex Group, a South Carolina firm that claims to be legally registered as a private investment firm.http://blog.land-fx.com/wp-admin/post-new.php?post_type=post&from_post=9414&new_lang=en The target audience of GoForex is investors with limited means, promising them that for only a small investment,Read more about Texas Securities Commission Orders FX Broker GoForex to Cease and Desist[…]

GAIN Capital’s Forex.com sees multi-year low in FX trading volumes, Sep2018 at $149.6B

GAIN Capital’s Forex.com sees multi-year low in FX trading volumes, Sep2018 at $149.6B

Continuing something of a disturbing trend over the past few months, data from FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP) indicate that September was the company’s slowest as far as trading volumes go looking back a number of years. GAIN Capital, which operates the Forex.com and City Index online retail trading brands, reported volumes ofRead more about GAIN Capital’s Forex.com sees multi-year low in FX trading volumes, Sep2018 at $149.6B[…]

Nasdaq Implements Stressed Market Conditions for Danske Bank Stocks

Nasdaq Implements Stressed Market Conditions for Danske Bank Stocks

American stock exchange Nasdaq has had to intervene to stop market makers from walking away from Danske Bank’s volatile stock. The actions follow the news that the Danish bank is being investigated by US law enforcement agencies in regards to suspected money laundering. On Friday, Nasdaq put trading of derivatives tied to shares of Danske Bank in a so-calledRead more about Nasdaq Implements Stressed Market Conditions for Danske Bank Stocks[…]

Dukascopy losses continue in 1H-2018 as Revenues drop 4%

Dukascopy losses continue in 1H-2018 as Revenues drop 4%

Geneva and Latvia based Retail FX brokerage group Dukascopy continued its fairly weak performance from 2017 into the first half of 2018. After posting a $2.4 million loss in 2017 amid a 12% Revenue drop, Dukascopy posted Revenues of CHF 14.3 million (USD $14.8 million) in the first six months of 2018, down 4% from CHF 14.8 million inRead more about Dukascopy losses continue in 1H-2018 as Revenues drop 4%[…]

GCM Prime sees Revenues drop and posts $3.2M loss in 2017

GCM Prime sees Revenues drop and posts $3.2M loss in 2017

LeapRate Exclusive… LeapRate has learned via regulatory filings that FCA regulated Forex and CFD brokerage GCM Prime Ltd has seen a drop in Revenues and a virtual evaporation of all client money held at the company during 2017. On the top line, Revenues for 2017 at GCM Prime were down 25% to $2.1 million, versus an annualizedRead more about GCM Prime sees Revenues drop and posts $3.2M loss in 2017[…]

Nordea and SEB among five banks fined €2.5M for issuing unauthorized credit ratings

Nordea and SEB among five banks fined €2.5M for issuing unauthorized credit ratings

The European Securities and Markets Authority (ESMA) just informed the public that it has today fined Danske Bank, Nordea Bank, SEB, Svenska Handelsbanken and Swedbank €495,000 each and issued five public notices for negligently breaching the Credit Rating Agencies Regulation (CRAR). ESMA found that the five banks infringed the CRAR by issuing credit ratings without being authorised by ESMA to do so. Between JuneRead more about Nordea and SEB among five banks fined €2.5M for issuing unauthorized credit ratings[…]

GAIN Capital’s Forex.com sees June FX trading volumes down 12% to $214 billion

GAIN Capital’s Forex.com sees June FX trading volumes down 12% to $214 billion

Continuing a string of fairly anemic volume reports we have seen for the month of June 2018 from leading Retail and Institutional FX platforms, Gain Capital Holdings Inc (NYSE:GCAP) has reported that retail volumes – consisting mainly of activity at its FOREX.com unit, as well as City Index – declined by 12% from May, coming inRead more about GAIN Capital’s Forex.com sees June FX trading volumes down 12% to $214 billion[…]

IronFX fined €2,000 by CySEC for late filing of financials

IronFX fined €2,000 by CySEC for late filing of financials

Second announcement from CySEC today, as the Board of the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at the meeting held on 4th December 2017, decided to impose an administrative fine of €2,000 to the CIF Iron FX Global Ltd (now known as Notesco Financial Services Ltd). The fine is for non-complianceRead more about IronFX fined €2,000 by CySEC for late filing of financials[…]

SEC charges investment professional in $8 million scam

SEC charges investment professional in $8 million scam

The Securities and Exchange Commission (SEC) has informed the public that it has charged a former registered representative with defrauding long-standing brokerage customers in an $8 million investment scam. According to the SEC’s complaint, Steven Pagartanis, who was affiliated with a registered broker-dealer, told some investors – including retirees who had been Pagartanis’s customers forRead more about SEC charges investment professional in $8 million scam[…]