FX week in review: FlowBank launch, Pepperstone license, IC-Inter Milan details
Who is behind new Switzerland based online trading and banking firm FlowBank?
Where in the EU did Australian retail FX and CFDs broker Pepperstone get a new license, in preparation for a post-Brexit world?
What are the details of IC Markets‘ not-yet-announced sponsorship of iconic Italian football club Inter Milan?
Which five-year old firm is now the world’s largest Spot FX market maker – and how much revenue and profit do they make?
Answers to these questions and a whole lot more appeared exclusively this week at FNG. Some of the top forex industry news items to appear on the pages of FNG this past week included:
Exclusive: IC Markets-Inter Milan sponsorship deal details. FNG Exclusive… FNG has learned from sources in Italy more details of the not-yet-announced sponsorship deal between Australia retail FX broker IC Markets, and Italian Serie A team Inter Milan. How much money will IC Markets pay Inter Milan each year, for the right to place its logo on the left sleeve of Inter players? How many years? How does this play into a greater redo of Inter Milan’s sponsorships? Get all the details, exclusively at FNG.
Exclusive: Former LCG CEO launches new online Swiss trading firm. Breaking Forex News…. FNG has learned that the former CEO of UK retail FX firm London Capital Group (LCG) has launched a new venture – a Swiss-based online banking and trading firm. What’s the new firm’s name? Where are its key employees from? (Former LCG people? Swissquote?) Who is behind the new firm? What license does the new firm hold? What services will it offer? All these details and more, exclusively at FNG.
Exclusive: Largest Retail FX market maker posts Revenues of $447M. FNG Exclusive… So just who is the largest market make to the Retail FX and CFDs sector? It isn’t even close. A still just-five-year-old firm which has exploded onto the scene and become the largest Spot FX market maker worldwide brought in a whopping $447 million of Revenues in 2019. Who is the largest maker to the Retail FX sector? Just how profitable were they? Who controls the company? Answers to all these questions and more, exclusively at FNG.
Exclusive: Pepperstone gets BaFin license in Germany. FNG Exclusive… The preparation for a post-Brexit world in the FX industry continues. FNG has learned that leading Australia based Retail FX and CFDs broker Pepperstone has just received a financial services license in Germany from BaFin, the German regulator. The BaFin license is one of the harder to get within the EU, however we understand that with ambitions in the German and Austrian markets it was important for Pepperstone to be licensed directly in the country. Pepperstone, alongside competitors AxiTrader and GO Markets dominates the domestic Australia retail FX market, and all have ambitions beyond their home market. Pepperstone recently opened a Dubai office and established a DFSA licensed entity in the UAE.
Other key news items on FNG involving Retail FX firms this past week included:
- 24option.com parent Rodeler fined €280,000 by CySEC.
- Playtech unveils “exceptional performance” at TradeTech in 1H-2020.
- Exness has a (near) record month with July trading volumes topping $595 billion.
In FX industry executive moves and news reported this week at FNG:
Gold-i makes several hires including Isabella Mannucci from GMO-Z.com.
Global Reach hires longtime WorldFirst exec Tim Watson as tech head.
Robinhood nabs Facebook VP Christina Smedley as its new CMO.
Gallant Exchange adds Bob Cavnar as CSO.