FOREX.com warns of TRY rate fluctuations because of Turkish presidential elections
Retail Forex and CFD broker FOREX.com Japan warns of market fluctuations around the upcoming Turkish presidential elections.
Forex.com is one of the oldest and most recognizable brands in online Retail FX and CFD trading. It was the leading brand of publicly traded brokerage Gain Capital Holdings Ltd., which also operated City Index in the UK and the GTX institutional FX trading operation.
Bedminster, NJ based Gain Capital was acquired by StoneX Group (Nasdaq:SNEX), formerly INTL FCStone, in July 2020 for $236 million, and since then Forex.com is a unit of StoneX.
Forex.com trading volumes have averaged about $200 billion per month in 2020.
Retail Forex and CFD broker FOREX.com Japan warns of market fluctuations around the upcoming Turkish presidential elections.
Operating revenues derived from FX/CFD contracts declined $37.1 million, or 38%, to $61.8 million in the three months ended March 31, 2023.
GAIN seeks to recover ill-gotten trading proceeds of $712,135.90 that the trader obtained by wrongfully exploiting an order execution error.
Retail Forex and CFD broker FOREX.com Japan will increase the margin rate for HKD currency pairs from March 9, 2023.
StoneX saw operating revenues derived from FX/CFD contracts decline 32% to $48.8 million in the three months to December 31, 2022.
Retail Forex broker FOREX.com, part of StoneX, is raising the Annual Percentage Yield (APY) on account balances.
The move marks something of a homecoming for Michael Boutros, who began his FX industry career with FOREX.com in 2006.
The National Futures Association (NFA) has ordered GAIN Capital Group LLC to pay a $700,000 fine.
StoneX saw operating revenues derived from FX/CFD contracts increase $25.7 million, or 46%, to $81.4 million in quarter to end-September 2022.
The NFA charges GAIN Capital with improperly adjusting customer accounts, in apparent violation of NFA Compliance Rule 2-43(a)(1).