News

Nigeria Cuts Forex Rates to BDCs

Nigeria Cuts Forex Rates to BDCs

The Central Bank of Nigeria (CBN) announced a drastic cut in its forex sell rate to Bureaux De Change (BDCs) in the country, taking it to N360 per dollar from its earlier rate of N399 to the dollar. Furthermore, the central bank has also changed the rate at which end users can buy dollars. BDCs […]

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ThinkMarkets Launches Greek Language Forex Website

ThinkMarkets Launches Greek Language Forex Website

ThinkMarkets, the popular brokerage firm dealing in commodities and CFDs in addition to foreign exchange, has recently made an announcement regarding the launch of its website in Greek. This is a very significant step towards expanding the company’s reach in Europe by making its products and services accessible to customers who speak this language and […]

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China’s Central Bank Reduces Forex Sales as Capital Outflows Slow Down

China’s Central Bank Reduces Forex Sales as Capital Outflows Slow Down

Sale of foreign exchange by the People’s Bank of China was the lowest point in five months in January this year, indicating that capital outflows have reduced. China’s central bank has aggressively pursued a policy of scrutinising cross-border transactions. Furthermore, the steadying of the yuan has also reduced the outflow of capital. The People’s Bank […]

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Barclays Joins Citi to Assist With South Africa Forex Trading Probe

Barclays Joins Citi to Assist With South Africa Forex Trading Probe

South Africa’s Competition Commission is set to receive important information from Barclays Plc and Citigroup concerning accusations that a number of banks had colluded to rig the exchange rate of the Rand. There have been concerns that more than a dozen South African and foreign banks had worked together to fix the currency’s exchange value […]

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Haier Finance Signs Up Bloomberg’s Forex Digital Trading Platform

Haier Finance Signs Up Bloomberg’s Forex Digital Trading Platform

Haier Finance Co., Ltd has recently announced that it has signed up with Bloomberg for its forex trading and risk management business. The non-bank financial institution is a subsidiary of Chinese home appliance giant Haier Group which is based in Shandong Province’s city of Quingdao. The company will now be using Bloomberg’s Multi-Asset Risk System […]

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Stoploss CFDs Exempt From France Forex Ad Ban

Stoploss CFDs Exempt From France Forex Ad Ban

France’s controversial new law banning advertisements of binary options, forex, and CFD trading will not cover stoploss CFDs offered to retail clients. Lawmakers in the country had voted to pass this law because these leveraged trading products are widely considered to be risky since they enticed customers to make unwise financial decisions. Leading European broking […]

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The Slump in Global Forex Industry

The Slump in Global Forex Industry

The turnover of the global foreign exchange trading industry has dropped considerably from its highs of the last three years. The daily turnover in April 2013 was $5.4 trillion but the industry has only able to manage $5.1 trillion per day as of April 2016. In fact, this was the first time after 2001 that […]

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