Korean regulator moves to severely limit retail forex trading
- On December 1st the Korean Financial Supervisory Service introduced Sound Forex Market guidelines the purpose of which is to considerably step up forex regulation in Korea. According to Korean FSS retail forex traders have a high losing probability due to excessive leverage and insufficient understanding of risks involved.
Wednesday, 07/12/2011 | 15:50 GMT by
Michael Greenberg
End of year effect - ICAP's forex volumes down 11%
- Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt in October since the summer's peak - ICAP's fx volumes were down 11% year on year. Below you'll find ICAP's daily FX volumes averages month by month for the past 2 years. Excluding this summer's peak - overall trend is not positive.
Tuesday, 06/12/2011 | 19:50 GMT by
Michael Greenberg
DGCX November volumes rise 121 % year-on-year, currency futures represent 90% of total volume, Alpari gets license to trade for clients
- DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes.
Tuesday, 06/12/2011 | 10:35 GMT by
Michael Greenberg
CFTC to introduce a rule on investment of customer funds following MF Global's fiasco
- So it only takes half a billion dollars in customer funds to disappear before CFTC takes an action aimed at large FCMs. In the wake of MF Global's fiasco CFTC has finally decided to reintroduce a rule that will limit the investment of customer funds to many instruments thus 'enhancing customer protection'
Tuesday, 06/12/2011 | 10:23 GMT by
Michael Greenberg
FXCM moves retail MT4 support in-house, keeps institutional business with Boston Technologies
- FXCM and BT have certainly had one of the biggest broker-software provider relationships in the past years. BT for about three years now was supplying and supporting all aspects of FXCM's MT4 business - retail and institutional.
Monday, 05/12/2011 | 16:24 GMT by
Michael Greenberg
Metaquotes working on introducing iPhone trading for MT4
- Metaquotes finally started working on iPhone application for Metatrader 4. Metaquotes developed one for Metatrader 5 but since it's still not very popular it had to appease its existing clients and roll out its own version of MT4 iPhone mobile trader. Metaquotes also aims to introduce application for iPad and iPod.
Friday, 02/12/2011 | 11:38 GMT by
Michael Greenberg
eToro soft launches MT4
- Without any official announcement or promotions eToro have recently soft launched the MT4 platform. While to some it may sounds trivial as it's another broker adding the popular MT4 to the list of its platforms - in case of eToro it's not trivial at all.
Thursday, 01/12/2011 | 13:41 GMT by
Michael Greenberg
FXCM releases browser based version of its Trading Station platform and more robust dailyfx signals
- FXCM introduces it web based version of the award winning FXCM Trading Station platform. FXCM Trading Station Web provides easier access to the forex market, combining uncomplicated trader functionality with an advanced GUI. This advanced web-based platform is fast, robust and exactly what FXCM clients have been asking for.
Thursday, 01/12/2011 | 12:03 GMT by
Michael Greenberg
TradoLogic launches CyberOptions - a Dominican based binary options broker
- It's a binaries day today: TradoLogic announces the launch of another binary options brand. This one, CyberOptions, is operating out of the Dominican Republic which is the first for me as I've never heard of a market there. This may be an interesting opportunity to tackle the Carribean market.
Wednesday, 30/11/2011 | 17:46 GMT by
Michael Greenberg
SpotOption opens an office in Japan where binary options market seems to be heating up
- SpotOption, the largest provider of binary options software according to the latest Forex Magnates Quarterly Report, just announced the opening of its Asian office in Tokyo. Japan is becoming quite the hub for binary option brokers lately as many of them report increasing demand from local traders.
Wednesday, 30/11/2011 | 12:35 GMT by
Michael Greenberg
ActForex launches FXApps - first platform integrated forex applications store
- ActForex one of the largest independent forex platform software providers has just released its FXApps store. FXApps store operates in a similar way to Apple's App Store and can be accessed from ActForex's platform. I caught up with Ilya Sorokin - ActForex's CEO:
Wednesday, 30/11/2011 | 06:32 GMT by
Michael Greenberg
NFA keeps choking the forex industry - aggressively raises member fees
- NFA is doing an amazingly effective job at spitting in the well it drinks from. In fact NFA behaves not as a regulator but as a controlling shareholder of its members - as it basically does whatever it wants when it comes to requirements and 'membership' fees. NFA just declared a new 'dividend' for itself by aggressively raising membership fees which for some strange reason will now be in the region of 2% of forex broker's gross (!) revenue instead of being a flat yearly fee like up until now. To the best of my knowledge NFA is the only forex dictator regulator charging percentage of volume and/or revenue instead of just charging same membership fee from everyone.
Tuesday, 29/11/2011 | 07:29 GMT by
Michael Greenberg
Tradency launches with Invast Securities in Japan
- Tradency just announced that they scored a major deal for their Mirror Trader platform and will launch it with Invast Securities in Japan. The whole concept of MT4 and algo-trading in forex is relatively fresh in Japan and just started to pick up. This puts Tradency and the more aggressive foreign MT4 brokers in pole position to take a nice cut of the local market share if this trend continues.
Monday, 28/11/2011 | 14:29 GMT by
Michael Greenberg
ICAP and other major institutions prepare themselves for Greek Drachma trading
- Apparently major banks and broker dealers are already preparing themselves for the Greek withdrawal from Eurozone and a return to Greek Drachma scenario as according to multiple reports ICAP and others are testing their electronic trading platforms.
Monday, 28/11/2011 | 09:04 GMT by
Michael Greenberg
Saxo Bank releases an interesting infographic and video about the forex market
- It seems infographics are becoming very popular with forex brokers who'd like to enlighten traders about certain aspects of the forex market. We've had those from Pepperstone, IBFX and OANDA this year. Now comes Saxo Bank with a pretty cool infographic and accompanying video.
Friday, 25/11/2011 | 11:02 GMT by
Michael Greenberg
360T acquires Finotec, rebrands it as FinBird Trading Systems; to enter retail forex
- 360T is an institutional multi-product platform provider. For Spot FX trading products 360T caters mostly to banks, broker dealers and others. For years 360T was just one of the several available fx institutional platforms competing for same clients and until now was only tracking other competitors like Currenex who were able to penetrate the retail forex market through its White Label offerings.
Thursday, 24/11/2011 | 16:03 GMT by
Michael Greenberg
FXStreet launches a fully customizable My Forex Studies page
- As announced here last week FXStreet just launched the beta of its Forex Studies page. The page is fully customizable so if you have an accounts with FXStreet you can play around with it and save your preferred look. You can access it here: https://www.fxstreet.com/forex-studies/demo.aspx
Thursday, 24/11/2011 | 11:47 GMT by
Michael Greenberg
Federal Court Orders Forex Dealer Jacob Juma Omukwe to Pay over $2.6 Million for Forex Scheme
- Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) obtained a supplemental consent order requiring defendants Jacob Juma Omukwe and his companies, JadeFX, LTD (JadeFX) and Jade Investments Group, LLC (Jade), jointly and severally to pay over $2.6 million in restitution and civil monetary penalties to settle a CFTC anti-fraud enforcement action filed in March 2011.
Wednesday, 23/11/2011 | 15:09 GMT by
Michael Greenberg
GFT Markets’ DealBook® Wins Best Online Trading Platform in the Shares Awards
- GFT Markets, a worldwide leader in forex, contracts for differences (CFDs), financial spread betting, binary trading, and FX options is pleased to announce that its DealBook® platform has received the prestigious award for “Best Online Trading Platform” by Shares Magazine, the leading weekly publication for active traders in the United Kingdom.
Wednesday, 23/11/2011 | 15:02 GMT by
Michael Greenberg
Henyep Capital Markets named Best Global Broker at the 9th Middle East Forex & Investment Expo 2011
- Abu Dhabi, UAE, November 22, 2011 – Henyep Capital Markets is pleased to announce that it has been voted and awarded as “Best Global Broker 2011” at the 9th Middle East Forex & Investment Expo 2011. The award was announced and presented to Henyep Capital Markets on November 15, 2011 at the award ceremony that took place at the Hilton Hotel in Abu Dhabi, UAE.
Wednesday, 23/11/2011 | 08:56 GMT by
Michael Greenberg
NFA files complaint against Tracy Morgan Spaeth charging him with multiple misleading forex practices
- One of the webinars that Spaeth used to solicit customers promoted a computerized forex trading system, known as Tradestar, that the webinar claimed was almost risk-free and consistently profitable. The Tradestar trading system was developed and/or owned by Trade Star Incorporated, a company controlled by a convicted felon named Robert Mihailovich (Mihailovich), who, in July 2010, was charged by the Commodity Futures Trading Commission (CFTC) with fraudulently soliciting over $30 million from customers for forex and futures investments.
Wednesday, 23/11/2011 | 08:49 GMT by
Michael Greenberg
MQL5 has a malware on its name now
- I guess it's another sign of one's popularity. Kaspersky, one of world's leading antivirus software developers, has recently discovered a malware that tries to exploit the recently launched MQL5 Cloud Network. Since that network's purpose is to help test EA's for a fee, crooks thought it would be financially rewarding for them to try to manipulate it in their favor.
Monday, 21/11/2011 | 09:30 GMT by
Michael Greenberg
David Lewalski of Botfly LLC sentenced to 20 years in jail for forex scam
- According to a federal criminal Complaint filed in U.S. District Court in the Middle District of Florida, David R. Lewalski, 47, formerly of Gainesville, FL, and his co-conspirators allegedly solicited money about $30 million from hundreds of investors based on false statements that Lewalski could earn the investors up to 10 percent interest per month by trading on the foreign currency (FOREX) market.
Monday, 21/11/2011 | 08:31 GMT by
Michael Greenberg
MF Global Canadian forex clients will get their money this month
Monday, 21/11/2011 | 08:21 GMT by
Michael Greenberg
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