11.09.2009: Forex Magnates Weekly roundup

• A new British foreign exchange broker urged peers to help raise billions of pounds for charity as it vowed to donate part of each transaction to fight AIDS, tuberculosis and malaria.

• The eToro online Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, known for its simple and visual approach to forex, now teams up with James Dicks forex signals and Autochartist to bring clients a complete forex trading experience and expand its appeal to professional traders.

• On August 27, 2009, NFA issued a Notice of Intent to deny Connor's floor broker registration, charging that his failure to disclose his 2002 guilty plea to a misdemeanor theft offense disqualified him from registration. On August 27, 2009, NFA's Membership Committee issued a Final Order accepting Connor's settlement offer and granting him registration subject to conditions for two years

• Forex Volume is Down – What are the Implications?

• New Forex robot earns 16% daily, sure why not?

• An interview with Joe Gelet from Elite E Systems

• Where's our money? new lawsuit asks Oxford firms. The mystery of missing funds in a foreign currency investment grows deeper, as accusations fly in yet another courtroom action.

• For the Second Consecutive Year, Interbank FX`s Continuous Growth Is Recognized by Utah Business Magazine`s Fast 50 Program

• Thomson Reuters announced that in recognition of the growing importance of the Middle East and African foreign exchange (FX) dealing markets, the Global Head of FX Transactions has been relocated to the United Arab Emirates.

• Overlay Asset Management, the currency management arm of BNP Paribas, will launch an innovative fund focusing on volatility in the $3,200bn (£1,958bn, €2,249bn) a day foreign exchange markets.

• Fusion Media Limited announced the launch of numerous additions to its forex portal network- Forexpros. The company’s 14 forex portal language sites have been extended to feature vast information on various financial instruments.

• GAIN Capital's FOREX.com adds spot gold and silver contracts to MetaTrader 4 platform offering

• CFTC charges North Carolina foreign currency firm CapitalStreet Financial LLC and its principal Sean F. Mescall with operating a $1.3 million Forex ponzi scam

• Bergstein Financial announces 50,000 customers on its Forex trading platform. YEAH RIGHT

• Goldman Sachs will participate in a joint venture between foreign exchange settlement provider CLS Group and interdealer broker ICAP plc to reduce risks in processing.

• Following the success of its recent launch in Korea, Interbank FX is now providing its MetaTrader 4 to international partners.

NFA stuff:

• On August 18, 2009, NFA issued a Notice of Intent to deny Paul Thomas' floor broker registration, charging that his failure to disclose his 1995 guilty plea to a misdemeanor theft offense disqualified him from registration. Final Order Granting Conditional Registration: On August 18, 2009, NFA's Membership Committee issued a Final Order accepting Thomas' settlement offer and granting him registration subject to conditions for two years.

• Restructuring of NFA's Membership Committee – Proposed Amendments to NFA Bylaws 301 and 701 and Registration Rule 501

• Forex Dealer Members Dues - Proposed Amendments to NFA Bylaw 1301

• Forex Dealer Member Price Adjustments - Technical Amendments to NFA Compliance Rule 2-43(a)

• On June 30, 2008, NFA issued a Complaint charging Tiger, Ozkan, Golub, Chalis, Andhari, Smith, Patton, Spear, Young and Brueck with making deceptive and misleading sales solicitations and failing to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged Tiger, Ozkan and Golub with failure to supervise.

• On March 16, 2009, NFA issued a Complaint charging Pioneer and Bobba with acting with reckless indifference and failing to adequately supervise. DECISION: On August 27, 2009, Pioneer was ordered to immediately withdraw from NFA membership and is permanently barred from NFA membership and from acting as a principal of an NFA Member. Bobba was ordered to immediately withdraw from NFA associate membership and as a principal of Pioneer and not apply for NFA membership or associate membership for 24 months, or act as a principal of an NFA Member for 36 months. If, after the 24-month membership bar, Bobba applies for NFA membership or associate membership, or seeks to become a principal of an NFA Member, he was ordered to pay a $25,000 fine, due and payable at the time he makes such application. Until such time as Bobba pays this fine in full, no action will be taken to process his application.