Tag: Retail Fx

Retail Fx

CVC Capital Partners Acquire Oanda

Private equity group CVC Capital Partners’ Asia Fund IV has had an offer accepted to acquire all of the outstanding equity of online retail trading technology and analytics provider Oanda Global Corporation.
Terms of the deal were not disclosed and it is subject to regulatory approval. Under the new ownership, Oanda will continue to be led by CEO, Vatsa Narasimha.
Siddharth Patel, senior managing director at CVC, says, “We look forward to working closely with Vatsa and his team as we help support Oanda, especially in Asia, in making strategic acquisitions and in investing to further broaden its product set.”

CMC Markets Launches “Professional” Offering

Online trading provider CMC Markets has responded to the recent announcement by the European Securities and Markets Authority (ESMA) that retail clients will no longer be able to use their current leverage levels, by creating a new CMC Pro account for eligible clients.
The ESMA changes establish margin limits for clients, rather than the broker-dealers and CMC says the new account will allow clients to continue to trade with their current leverage levels.To be eligible, clients will have to demonstrate that they are capable of making their own investment decisions.

ADS Securities Hires Head of MENA Retail FX Sales

ADS Securities has appointed Nael Saleh as head of retail sales in the Middle East and North Africa region, for its FX and CFD brokerage business.
He will report to ADS Securities’ global head of retail sales, Jason Hughes and joins from GKFX MENA, where he was director of operations, heading teams responsible for customer services and sales across a wide range of products on FX, CFD’s and commodities brokerage platforms. Previously, he was head of global sales at IronFX.

FCA Warns on Binary Options; Cryptocurrency CFDs

The UK’s Financial Conduct Authority (FCA) has issued two warnings to retail investors over binary options and cryptocurrency contracts for difference (CFDs).
On binary options, the FCA says it has concerns about the products – namely its data suggest that a majority of consumers lose money when trading binary options. “To make a profit, a consumer is likely to need both a sophisticated knowledge of financial markets and to ‘beat the odds’, which is always difficult to do,” the FCA says.

And Finally…

Regular readers know that the increasingly blurred lines between retail and institutional FX markets have bothered me for years. Too many customers are unsuccessful in the retail sector and the reputational risk for the entire industry is off the scale. We need to be asking many more intrusive and difficult questions of these firms – for if we do, I think the answers – assuming they are given honestly – will highlight the scale of the problem and help deliver a solution.

FCA Holds Off Retail Rule Change as ESMA Considers Stronger Intervention

Following an announcement from the European Securities and Markets Authority (ESMA) that it is considering exercising its product intervention powers to address its concerns over the use of contracts for difference (CFD), rolling spot FX and binary options contracts by retail traders, the UK’s Financial Conduct Authority (FCA) says it will delay its own rules on the products.
In a statement, ESMA says it has been concerned about the provision of speculative products such as CFDs, rolling spot FX and binary options to retail investors for a “considerable period of time” and has conducted ongoing monitoring and supervisory convergence work in this area.

Oanda Integrates with QuantConnect

Retail FX trading platform Oanda has integrated its Algo Lab solution with QuantConnect’s open-source, cloud-based algorithmic trading engine in order to offer its clients the ability to research, build, test and deploy their own FX trading algorithms directly from the Oanda platform.
The firms say the agreement provides Oanda clients with access to a community of algorithmic and quantitative traders, as well as series of online trading tutorials that could help add a new dimension of discipline to their trading strategy .

Sucden Targets Growth Through Diversity

Following the launch of Sucden Financial’s new OTC FX options service, Galen Stops talks to Noel Singh, head of e-FX business development at the brokerage, about how it’s planning to diversify its FX offering.

Despite having an FX franchise that is over 30 years old, an e-FX offering that has been around for more than eight years and a balance sheet of over $100 million, Sucden Financial is not exactly a household name in the wholesale FX market.

But the firm is now working to change that as it seeks to diversify its FX business in response to changing market conditions.

And Another Thing…

The retail FX sector has long bothered me, as regular readers can attest, and my distaste for many providers in the sector was only heightened when one offered me “expert comment” on what will likely to happen to the euro in the wake of Sunday’s French election result…on Wednesday. This is so detached from the reality of the modern FX market that it makes me wonder how this firm thinks it is providing good service by offering “commentary” almost four days after the results?

CFTC Adds 71 Names to RED List

The US Commodity Futures Trading Commission has more than trebled the number of names on its Registration Deficient (RED) list of unregistered foreign entities that the CFTC has reason to believe are soliciting and accepting funds from US residents at a retail level for, among other things, trading in binary options or FX and who are required to register with the CFTC but, in fact, are not registered.
CFTC has added 71 names to the list that previously contained 30 firms, the full list can be found at www.SmartCheck.gov/REDList.