Why did FOREX.com operator Acquire Capital sue one in every of its shoppers for greater than $700K?
How did brokers Vantage, XS.com and RaiseFX take steps to construct their presence in Africa?
Which new hires joined FxPro, BDSwiss, and Hantec?
Solutions to those questions and a complete lot extra appeared first or completely this previous week at FNG. A few of the most learn and commented-on FX trade information tales to seem over the previous seven days on FNG included:
GAIN Capital takes Foreign exchange dealer to Courtroom for benefiting from order execution error. Acquire Capital Group, LLC d/b/a FOREX.COM has filed a grievance towards one in every of its shoppers – Justin LeBlanc. The grievance, seen by FX Information Group, was filed on Could 2, 2023, on the New York Southern District Courtroom. GAIN seeks to get well ill-gotten buying and selling proceeds of $712,135.90 that the dealer allegedly obtained by knowingly and wrongfully exploiting an apparent order execution error on GAIN’s buying and selling platform. GAIN alleges that the defendant was unfairly and unjustly enriched at GAIN’s expense.
Hantec Markets to launch Hantec Prime, provides Lee Holmes to go Institutional Gross sales. London primarily based, FCA licensed Retail FX and CFDs dealer Hantec Markets has introduced that it has appointed Lee Holmes as the corporate’s new Head of Institutional Gross sales, prematurely of the launch of Hantec Prime, the Institutional arm of Hantec Markets. Lee Holmes brings greater than twelve years expertise throughout the overseas change and derivatives markets panorama. Previous to becoming a member of Hantec Markets, Lee served as a member of the Govt Administration of Infinox World.
Vantage features FSCA license to function in South Africa. World multi-asset dealer Vantage has introduced that it it has obtained a derivatives license issued by the Monetary Sector Conduct Authority (FSCA) in South Africa. The brand new license marks a big milestone for the corporate, to develop a extra highly effective presence in Africa, demonstrating its dedication to offering high-quality monetary companies to shoppers on the subcontinent, whereas remaining in compliance with the regulatory necessities set by the FSCA.
Plus500 shareholders slam proposed decision on administrators’ remuneration. On-line buying and selling firm Plus500 Ltd (LON:PLUS) has simply introduced the outcomes of right now’s Annual Common Assembly (AGM). Every of the resolutions proposed had been voted on by means of a ballot. All however one of many resolutions (specifically decision 22, which was an advisory vote) had been handed by the requisite majorities. Almost 75% of all votes had been forged towards the decision to approve the administrators’ remuneration report. Final 12 months, the identical decision was additionally rejected by the vast majority of shareholders. The vote, nevertheless, is merely advisory.
Prime FX trade government strikes reported at FNG this week included:
❑ Unique: RaiseFX hires INFINOX exec Dany Mawas as CCO.
❑ Unique: FxPro hires Amana Capital exec Ahmed Helmy for UAE BizDev.
❑ XS.com provides AvaTrade / Scope Markets alum Chanelle Tsoka for South Africa.
❑ GCEX appoints Tilman Schultz as Head of Partnerships.
❑ Unique: Analyst Richard Perry leaves INFINOX.
❑ BDSwiss hires Pepperstone exec Hassan Ibrahim to go MENA BusDev.
❑ Steve Reeves appointed Chair of the Equiti Capital UK Board.
❑ Instruments for Brokers names Michael Levine as Head of UK workplace.
