2016, efforts by the central bank to support the naira had pushed the figure below 27 billion. The result is currency confusion: The central bank even maintains separate rates for religious pilgrims who need dollars for trips to Mecca, Rome or Jerusalem. On February 6, 2017, the cftc imposed a penalty of 7 million on fxcm for defrauding its retail customers. 22 42 The Commission prohibited the company from registering with cftc, effectively banning it from the US commodity brokerage industry. 66 67 At least three sets of lawsuits were filed against the parent firm, Global Brokerage, Inc. "fxcm Group puts value of disposed interest in FastMatch.6 million". Kilgore, Tomi (February 8, 2017). 40 41 Loss of US license fxcm promised its customers a "no dealing desk" trading system, taking prices from a number of major banks and market makers. "fxcm (Global Brokerage) runs into trouble with nasdaq listing". 20 By 2005 the online retail forex market began to grow, though it was commonly considered a risky market, full of fraud and speculation.
Retrieved April 26, 2017. "Publicly traded forex brokers lose.4 billion of market value in 2016". 61 62 fxcm owned about.5 of the ECN FastMatch which was sold to the Euronext exchange for 153-163 million. A b Nikolova, Maria (May 4, 2017). Fxcm owned all the operating companies including fxcm. Note that this is a company press release "Leucadia to shed most non-financial assets, rename as 'Jefferies.
"Global Brokerage, Inc., Form 10-K". Fxcm, also known as, forex Capital Markets, is a retail foreign exchange broker, now run from London after being banned from United States markets for defrauding its customers. "fxcm never had any ownership interest in Effex Capital, according to legal complaint". Dow Jones and Company.