Foreign exchange broker
Foreign exchange broker
Foreign Exchange Broker
A broker who operates predominantly or exclusively in currency markets. That is, a foreign exchange broker fills orders to buy and sell currencies in exchange for a commission.
References in periodicals archive
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LONDON foreign exchange broker Argentex pulled the trigger yesterday on a listing that values the firm at PS120m.
Among other currencies, the Brazilian real lost 15 per cent, the South African rand shed 12 per cent and the Russian rouble slid 11.74 per cent, said Jameel Ahmad, global head of currency strategy and market research at FXTM, a global foreign exchange broker.
Like his father, he made his career in the City, starting his first job at 17 as a trainee foreign exchange broker. Stints at Lehman Brothers and investment holding company EBS followed.
CMA chief executive Paul Muthaura said the market regulator had observed a number of individuals and entities purporting to carry on the business of an online foreign exchange broker or a money manager without relevant licenses.
In February, CMA licensed Execution Point Ltd to operate as an online foreign exchange broker.
Investigators determined the money was sold on the black market to a foreign exchange broker who transferred the funds to three casinos.
The New York Fed became suspicious and denied 30 of the requests, but not before the release of $81 million to a foreign exchange broker.
It was sold to a black market foreign exchange broker, transferred to at least three large local casinos, sold back to the money broker, and moved out to overseas accounts -- all in a few days.
The funds were deposited into the five bank accounts created a few months earlier and were transferred to foreign exchange broker Philrem for conversion into pesos.
Lukman Otunuga, research analyst at foreign exchange broker FXTM, said: "This latest development has provided yet another reason for the Bank of England to push back interest rate expectations."
Established in 2005, FC Exchange is one of the UK's leading specialist foreign exchange broker and international payment solutions providers, offering a wide range of products and services for both individuals and businesses.
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