New York based FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP), which operates the UK-centric City Index as well as the global FOREX.com brands, has issued a statement in response to European regulator ESMA’s plans to limit leverage on FX and CFD trading to 30x. Similar to the reaction of its London-based competitor IG Group Holdings plc (LON:IGG) from earlier this morning – IG called the planned move “disproportionate” – GAIN Capital is warning that the move, if implemented, is likely to unintended consequences. Specifically GAIN Capital is concerned (we believe rightly so) about the move driving European ... (full story)