This week must have one of the most exciting, controversial, and ironically shocking events in the history of the Forex industry. While one wins a fortune and another loses, there are also major brokers who have relaunched their venture. Meanwhile, the US profitability report was announced, quantitative easing was ended, and finally, Bitcoin was brought back at IG markets.
Who Lost, Who Gained?
GAIN Capital finally signed an agreement to obtain four of the world’s best betting firms and trading platforms—CFD, FX, City Index Limited, and UK betting firm for $118 M. Combining all of these companies will serve an average of 235,000 customers and will expect to receive more than $3 trillion trading volume yearly.
On the other hand, FXCM—GAIN Capital’s #1 competitor, and the one that forewarns the industry to take over GAIN, will have to pay a $180,000-penalty after Canada’s provincial regulators found out about the unrecorded trades in Brunswick.
The End Of QE
After several weeks of USD’s down trending, and despite the effort to recover its loses by launching the Quantitative Easing, still the US Federal Reserve’s Open Market Committee (FOMC) has to end the program. The FOMC nicknames QE as “tapering”.
The Return Of Binary Options For Bitcoins At IG Markets
Good news for those who are already missing the classic binary options as IG Markets is bringing it back to the industry, which launched April last year and were also closed a month later. Players can now bet or predict whether the price of an instrument on the current market prices will go up or down.
Patrick Murck Takes Over Jon Matonis Of Bitcoin Foundation
Matonis has disclosed his resignation as Bitcoin Foundation’s Executive Director, which will take effect on the last day of December; and to replace his role on January 2015 is Patrick Murck, the Foundation’s previous general counsel.