Broker News

Leading retail Forex broker, IBFX, Inc. and IBFX Australia Pty Ltd to acquire their U.S. and Australian MetaTrader 4 retail Forex accounts. IBFX is a subsidiary of Japan's Monex Group.

As of July 31^st, Forex broker LQD Markets Ltd will not be regulated by Cysec, the Cyprus Securities and Exchange Commission under which it has been governed until now. As first reported by Forex Magnates, LQD Markets has renounced its authorization to provide investment services and related activities and has allowed the CySEC investment firm's license number for LQD to expire as of start of August 2014.

The prize for being the first state in the United States to propose a regulatory framework for the Bitcoin goes to New York State. The New York regulatory proposal will be adopted following a 45 day review period and follows similar regulations already applied to financial firms in New York and those operating under federal laws such as FINRA and NFA.

National Futures Association (NFA) has ordered Forex Capital Markets LLC (FXCM) to pay a $200,000 fine. FXCM is an NFA Member and Commodity Futures Trading Commission (CFTC) registered retail foreign exchange dealer located in New York City.

IronFX Global, a Cyprus based Forex broker, has just announced the opening of a new office in the Republic of South Africa and has received a license as a Financial Services Provider (FSP) by the Financial Services Board (FSB).

Stockpair.com, operated by Nextrade Wordwide Ltd, is pleased to announce that it has recently received CySec (Cyprus Securities and Exchange Commission) regulation in accordance with the European Union Markets in Financial Instruments Directive (MiFID).

The National Futures Association (NFA) announced yesterday that its Board has approved the prohibition on the use of credit cards to fund retail Forex and futures accounts. The sanction is subject to approval by the Commodity Futures Trading Commission (CFTC) but no amendments to the rulings are expected.

Liquid Markets (LQD Markets) announced yesterday that it was closing its Cypriot location as of July 7^th and transferring its ongoing activities to its U.K. office. All clients' accounts will be migrated to London and will be regulated under UK's Financial Conduct Authority (FCA). On July 6^th, all the customers' positions and orders will be assigned to the UK entity together with all personal data and documentation, trading history and cash balances.