Brokers
FXCM Announces Third Quarter 2011 Results and October Operating Metrics – Revenues are up
10
2011
FXCM’s Q3 2011 numbers are out and show outstanding growth in revenues. October retail forex volumes are down 8% but institutional ones are up by 35%. For the first time FXCM also shows average number of institutional trades a day – which is 90% higher in October comparing to September. All in all solid results that might help FXCM’s stock, which suffered from several downgrades lately, to rebound.
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NFA issues a Notice about MF Global; Canadian forex clients have another option now
8
2011
All the MF Global saga has left us wandering what will happen to accounts of many forex traders. According to the latest Forex Magnates survey MF Global has $20 Billion monthly retail forex volume meaning there are quite a few retail forex trading customers out there. MF Global Canada is using FXCM’s Trading Station II and MT4 platforms in a semi White Label way. This allows MF Canada clients to jump ship and move to same platform but with a different broker (that is if they are able to extract their funds).
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It only took BNY Mellon eight months since the excessive forex overchargingstory exploded back in March 2011 to start offering decent forex pricing to its clients.
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ICAP October volumes down 7% in October
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Vietnam draws a lot of interest from retail forex brokers lately as it is a strong economy and a large untapped market for them. Most of them still operate there just like they operate in China – through local IBs or through online marketing only however some are thinking of opening local branches, subject to regulatory limitations.
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Swissquote publishes strong results for first 9 months of 2011 – Forex volume up
4
2011
In line with its semi-annual report Swissquote continues to see healthy growth in its results. Swissquote fulled merged ACM operationally and into its books and as expected it fuels its growth. Swissquote’s eForex numbers are up on all parameters. Swissquote’s volume is up 7.3% to CHF 36.53 Billion a month however dollar value is down to $41.54B due to exchange rates. eForex assets are up to CHF 130.4 million and client accounts are up 5.7% to 10, 464 accounts at the end of September 2011.
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Admiral Markets is about to launch the 4th round (out of 4) of its ForexBall forex trading competition. This one is an interesting concept as through several rounds it allows traders to participate and earn awards more than once. There’s also an additional round just for winners – with bigger prizes.
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CFTC-SEC Statement on MF Global, hundreds of millions of client funds may be missing
1
2011
This story just keeps getting ‘better’ – since yesterday’s post about MF’s possible sale, MF has declared bankruptcy and was trying to be bough by IB. However the deal doesn’t seem to go through as there are suspicions that huge amount of client funds is missing.
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NEW YORK (Reuters) – Troubled brokerage MF Global Holdings Ltd was nearing a deal late on Sunday night to file for bankruptcy protection and sell assets to Interactive Brokers Group , media reports said.
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