Forex.com parent Gain Capital released details of a fight at its board about the future of the company, while a number of Retail and Institutional FX platforms disclosed fairly robust results for Q1 and April, driven by market volatility.

Top FX industry news storied this week on FNG included:

Forex.com battle heats up as two more directors oppose FCStone deal. The battle for control of retail forex broker Forex.com (and its UK sister brand City Index) took an interesting turn, with parent company Gain Capital Holdings Inc revealing that two additional independent directors changed sides and have decided to advise against the acquisition of the company by INTL FCStone – at least on the terms offered.

Market betting on improved offer for Gain Capital / Forex.com. GAIN’s shares rose as dissent became evident on its board regarding the deal, and a number of large GAIN shareholders started to push GAIN CEO Glenn Stevens and the board to either abandon the acquisition, or at least renegotiate a higher price with FCStone.

IG Group hires Ben Hemington from Teach First as ESG Manager. Leading online retail broker IG Group has announced the appointment of Ben Hemington as ESG Manager. He will be IG’s first ESG Manager, in a newly created role. IG stated that Ben will be responsible for leading and further developing the business’s ESG agenda, including managing the company’s environmental impact and driving ESG programmes and initiatives.

Dukascopy triples Q1 Revenue as COVID-19 drives volatility. The Geneva-based broker took the unusual step today of publicly releasing its quarterly results for Q1-2020. Dukascopy usually puts out an Annual Report and a semi-annual financial situation update. We assume they did that because, frankly, they had a great Q1.