Tag Archives: FXCM
FXCM moved fast to establish a Canadian offering to be able to attract former MF Global’s Canadian clients. FXCM which offered its Trading Station II platform through MF Global Canada now partnered with Friedberg Direct forming the FXCM Canada joint …
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FXCM just took a revolving credit facility – much similar to Gain who took $50 million back in October. It’s interesting why FXCM is doing that as it according to its Q3 2011 report it has over $177 million in cash and cash equivalents. This may be because FXCM is rolling its existing debt (if it has any), planning a big acquisition or more likely – realized that it is can arbitrage the value of its stock (interest, dividends, etc) and the cost of this credit facility.
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FXCM Reports Monthly Metrics for November 2011 – active accounts at peak, volume steady
14
2011
FXCM just reported its numbers for November 2011 – while total number of active accounts is at peak (162,166), retail forex volume is a little bit higher than in October 2011 (probably because in October there were 22 trading days and not 21 like in November). Institutional forex volume however is FXCM’s second best ever.
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FXCM moves retail MT4 support in-house, keeps institutional business with Boston Technologies
5
2011
FXCM and BT have certainly had one of the biggest broker-software provider relationships in the past years. BT for about three years now was supplying and supporting all aspects of FXCM’s MT4 business – retail and institutional.
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FXCM releases browser based version of its Trading Station platform and more robust dailyfx signals
1
2011
FXCM introduces it web based version of the award winning FXCM Trading Station platform. FXCM Trading Station Web provides easier access to the forex market, combining uncomplicated trader functionality with an advanced GUI. This advanced web-based platform is fast, robust and exactly what FXCM clients have been asking for.
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The oil rich Middle East has been a market most FX brokers want to capture, with stong economic growth, per capita incomes and cash to play with!
The region has a very diverse uptake in financial markets; some countries have been pioneers in the field since the 70′s whereas other nations are finally entering electronic trading.
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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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NFA files Complaint against FX Currency Traders – ex FXCM IB run by Jacob Martinez
19
2011
For those who don’t know: Martinez family is behind Market Traders Institute, was involved with former FCM called I-Trade ,which then became eForex, and was heavily linked to the David Smith and Olint Ponzi case. They are also rumored to be behind one of the new RFEDs.
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It seems that FXCM marked a new frontier – to become world’s premier currency rates supplier. FXCM just announced that it will stream rates on the NYSE floor and back in May 2011 it launched the Dow Jones FXCM Dollar Index (interview with CEO Drew Niv here). This would mean of course that FXCM steps into the territory of larger and more established currency players like Reuters and ICAP.
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