FOREX.com customer trying to recover crude oil trading losses faces opposition
GAIN Capital says it has no duty regarding the losses suffered by FOREX.com customer due to negative crude oil prices.
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.
GAIN Capital says it has no duty regarding the losses suffered by FOREX.com customer due to negative crude oil prices.
Gain Capital’s longtime London based Global Affiliate Marketing Manager Ella Hacer Gumus has joined rival Retail FX broker OANDA.
Gain Capital failed to diligently supervise accounts by not following its policy regarding trade move requests.
The transaction pays Forex.com GAIN Capital shareholders $6 per share in cash, for a total deal value of $236 million.
Some of the top forex industry news items to appear on the pages of FNG this week included:
Even with Q2’s reduced results as a base the company is about to be acquired by StoneX for about 2x run rate annual EBITDA, and 4x earnings.
Wendy Collins’ departure seems to be coinciding with Gain Capital’s pending acquisition by US rival StoneX.
At Gain Capital’s current share price of $6.12, Mr. Schenk’s profit on the exercise should come to about $91,600.
The issue of ESG investing (Environmental, Social, and Governance) has entered a good part of the mainstream activity on Wall Street.
Following what was a somewhat slow May, FX trading volumes at Retail FX brokerage house Gain Capital rose sharply by […]