The beleagured, cash-strapped foreign currency brokerage is trying hard to get back on its feet.
With the recent news of the NFA barring FXCM from membership, many forex traders are scurrying to replace FXCM. It’s imperative that American retail traders understand Commodity Futures Trading Commission (CFTC) regulations for off-exchange forex before making their decision.
Embattled U.S. currency broker FXCM Inc said on Tuesday it has changed its company name to Global Brokerage Inc, two weeks after it had been ordered by the Commodities Futures Trading Commission to cease operations in the United States for fraud. In a statement, FXCM said it will also change its ticker symbol to GLBR. The company also announced the promotion of Brendan Callan to interim chief executive officer, replacing Drew Niv, who resigned from the firm.