Following our earlier report that New York based retail forex broker FXCM Inc (NASDAQ:FXCM) had been banned from the US market (alongside bans for CEO Drew Niv and co-founder William Adhout) after FXCM settled allegations of defrauding customers regarding its market making activities, FXCM has put out a statement confirming the settlement with US regulators CFTC and NFA. FXCM also gave more details as to what will happen to its US customers. FXCM reported that it had come to an agreement with rival Gain Capital Holdings Inc (NYSE:GCAP), for Gain to purchase FXCM’s US customer accounts and integrate them into Gain’s ... (full story)