Japanese Brokers are taking steps to remain competitive
by Oz Golan, Tradency. One month after applying the new 1:50 leverage rule, Japanese FX Brokers are beginning to take action in order to maintain their current trading volumes. “TOKYO (Nikkei)– Brokerages that handle foreign exchange margin trades are lowering commissions in order to attract customers as stricter leverage restrictions fuel concerns about a shrinking [...]
FXCM files for an IPO, valued at $676 million pre-money?
FXCM, arguably the largest broker in the world in terms of volume, has just announced plans to go public in the US. It would be interesting to see FXCM actually complete the IPO unlike Gain, one of FXCM’s largest US competitors (FXCM’s announcement comes exactly 12 months after Gain’s, how ironic). These news come amid FxPro’s potential [...]
CFTC’s new rules – will foreign brokers accept US clients?
There’s a heated debate across many websites whether the new rules mean that non-US brokers will be able to accept US clients or not. It seems that the majority of people (check Francesc and Bart’s websites) believe that foreign brokers will stop accepting US clients, even meaning that subsidiaries/affiliates of US brokers themselves will not [...]
CMC Markets launches a new spread betting platform
CMC Markets just announced the launch of its new spread betting platform, which was available on its website for a while now, and the result is simply stunning. It is easily one of the best web-based platforms I’ve ever seen. Check out the video tour at the following link: http://www.cmcmarkets.co.uk/spread-betting/platform. Executive Chairman and founder of [...]
Saxo’s profit up 13-fold, 30% may be for sale
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Saxo Bank published its report for investors for the first half of 2010 yesterday and the results are excellent. Net profit increased 13-fold from DKK 41 million (~$7 million) to DKK 551 million (~$95million). In fact, the income rose so much that the first half year of 2010 was better than any other full year [...]
Independent investigation costs Saxo Bank millions
From today’s Jyllands-Posten: Saxo Bank faces heavy expenses in an effort to prove to the FSA that it executed client orders according to its best execution policy. Whoever is after Saxo they are pretty successful at getting deep into their pockets. According to Danish daily Jyllands-Posten, Saxo Bank is set to pay around a million [...]
Crazy promotion by ETX Capital: lose but don’t pay
More than a year ago I wrote about a crazy promotion by Swiss Dealing and another one by FX Pulp which offered to trade with ZERO spread AND ZERO Margin. Recently I stumbled upon the following ETX Capital’s Spread Betting promotion called the Safety Net: “Unlike many demo accounts, which often have little of the [...]
ActForex releases a solution for new Japanese Margin Requirements
Just in time with the new Forex requirements kicking in the day after tomorrow (August 1st, 2010), which Oz Golan mentioned here last week, ActForex is releasing that it has embedded this functionality in its platform. ActForex, Inc, the leading provider of independent retail Forex trading platforms, today announced the creation of Margin Requirement as [...]
FSA successfully halts a Forex scheme
FSA once again showed that it is the sanest regulators out there and also the quickest to act. It managed to successfully halt an unauthorized Forex scheme early in its life and to recoup most of the invested money. On another note: how did an accounting firm think that it could get away with such scheme in [...]
Leverage in Japan to decrease to 1:50, consolidation on the horizon?
By Oz Golan, Tradency. From August 1st all Forex brokers in Japan will be required to reduce their trading leverage to 1:50 by the FSA Japan (Financial Service Agency). The First effect will be on the retail users who will need to deposit more funds in order to trade the same positions they are holding. [...]
