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Forex Broker News

You can find and read the latest news and press releases from all of our partner brokers here.

Monday the 19th of January is Martin Luther King Day in the United States and this will temporarily influence Market Closing Hours for Precious Metals and Energy Pairs.

Throughout this US holiday, Pepperstone will continue to provide standard support and funding hours.

Currency Market Hours will not be impacted by this holiday.

Pepperstone Trading Schedule Martin Luther King Day

FinFX would like to inform you that starting from 12:00 GMT+0 Friday, 16th of January 2015, they will increase margin on EURCHF pair to 8% and on all the other CHF currency pairs to 5% due to unprecedented volatility in the Swiss franc.

Following yesterday's exceptional market events due to the Swiss National Bank's abandonment of its EURCHF floor, many brokers have experienced major losses in their trading book.

IronFX Global Limited was not affected by these events due to their strong risk management systems and procedures and they continue complying well with their capital regulatory requirements under all regulatory bodies they have licenses. They would therefore like to inform their clients that they continue conducting their business as usual. Feel free to contact their account managers around the world should you have any questions.

At approximately 13:30 (GMT +4) yesterday, 15th January 2015, the Swiss National Bank unexpectedly announced that it was ending its minimum exchange rate of 1.20 swiss franc per euro. In addition they also announced the lowering of the interest rate on deposit account balances that exceeded a given exemption threshold, to minus 0.75 percent from minus 0.25 percent.

The announcement led to unprecedented market volatility in some CHF linked currency pairs that hadn't been seen in almost 35 years. As a result there were some instances of off-market quotes and subsequent executions in some of these pairs due to prime banking systems being overwhelmed with order flow. Luckily, few clients were affected by this event, and the FXPRIMUS trade audit team is in the process of analyzing all trades that may have been affected and are due adjustments. Some adjustments have already been made, and will continue to be made over the next 24 hours. FXPRIMUS are expecting all adjustments to be completed by close of trading on Friday, January 16th.

As a result of today's announcements it is widely expected volatility will continue in CHF linked pairs, so FXPRIMUS encourage customers to exercise extra caution when trading these pairs. Spreads may widen due to lack of liquidity and pending orders may not always be executed at desired pricing.

Lastly, FXPRIMUS are happy to report that they were completely unaffected by the market volatility, and remains as financially sound as it was prior to the event.

FinFX would like to inform their clients, that the Swiss National Bank (SNB) decided to discontinue the minimum exchange rate of CHF 1.20 per Euro and at the same time lowered its interest rate to -0.75%. This leads to extreme volatility and extremely low liquidity especially in CHF pairs. Due to this reason, the major banks and other liquidity providers temporarily suspended trading in CHF pairs.

FinFX would like to inform you that trading in CHF currency pairs is back to normal.

Please find below the FXCC trading hours schedule for US Martin Luther King Day, Monday the 19th of January 2015:

Martin Luther King Day 2015

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FXPRIMUS Obtains CIF License from CySEC

Tuesday 30th of December 2014

FXPRIMUS are delighted to inform you that they have obtained a CIF License from CySEC (Cyprus Securities & Exchange Commission). This is an important milestone in the history of their company. You can take comfort in knowing that FXPRIMUS is regulated under a European jurisdiction. This is part of their ongoing commitment to become the safest retail Forex and CFD brokerage.

As an FXPRIMUS customer, nothing will change immediately in terms of your customer experience or the regulatory jurisdiction currently governing your account. They will notify you of any changes or modifications to this as they proceed with the establishment of their European entity. Please view the official Press Release below, and continued Happy Holidays to you.

FXPRIMUS Obtains CIF License from CySEC

Ebene, Mauritius: FXPRIMUS, the Mauritius based FX/CFD broker, announced today that their European entity, FX Primus Europe (CY) Ltd. has been granted a CIF License from CySEC (Cyprus Securities & Exchange Commission.) FXPRIMUS is now able to provide the comfort and assurance to its customers they are trading with an EU-regulated broker that complies with MFID directives.

Terry Thompson, President of FXPRIMUS commented on the development, "This is quite a big step for FXPRIMUS in terms of meeting some of our primary goals for 2015 and beyond. It gives us greater access to the European market. While we've established quite a footprint in Asia, we recognize the importance of having more of a global reach, and a European license puts us in a better position to accomplish this. Additionally, in our relentless pursuit to affirm our commitment to being the "Safest Place to Trade," we welcome the opportunity of being governed across multiple jurisdictions."

Thompson continued, "The process in obtaining a CIF license is quite extensive, but a process we were more than happy in committing to. We look forward to working with CySEC and are appreciative of the issuance of the license."

FXPRIMUS intends to open an office in Cyprus and become fully operational in early Q1, 2015.