Broker responses to the new CFTC rules: GFT, Oanda, IBFX, Gain Capital, FXCM, FX Solutions, PFG Best, Alpari US and MB Trading
A week after most of large US brokers have issued a collective statement and united under the FXDC (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 Dealers Coalition) brand name they have also issued their own statements regarding the proposed CFTC rules concerning Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and IB relationships.
The FXDC is now comprised of: GFT, Oanda, IBFX, Gain Capital, FXCM, FX Solutions, FXDD, PFG Best, CMS Forex and Alpari US.
Now you can read what your own broker thinks of the upcoming rules. Here are links to their statements:
FXCM: https://www.financemagnates.com/forex/analysis/fxcms-response-to-cftcs-new-proposal/
GFT: https://www.gftforex.com/about/2010-articles/gft-20100118-CFTC.asp
Oanda: https://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=15;t=009611#000000
IBFX: https://www.ibfx.com/Corporate/post/2010/01/19/Interbank-FX-Supports-the-Original-2008-FARM-Bill-Opposes-CFTCe28099s-Proposed-Leverage-Limits-of-101.aspx
Gain Capital (Forex.com): https://www.futuresmag.com/News/2010/1/Pages/Forex-firms-speak-out-on-CFTC-leverage-plan.aspx and https://www.gaincapital.com/012110.html
FX Solutions: https://www.forexpeacearmy.com/forex-forum/general-forex-talk/8431-call-action-cftc-10-1-share-what-brokers-other-forex-groups-wrote-here.html (scroll down)
FXDD, CMS Forex: couldn't find any
PFG: https://trading-u.com/blog/index.php/archives/1502
Alpari US: https://www.fxstreet.com/news/forex-news/article.aspx?StoryId=0482ced1-4857-46ba-932f-b17f770b3b2
MB Trading (not part of FXDC as far as I know): https://www.financemagnates.com/forex/brokers/mb-tradings-response-to-the-cftcs-leverage-and-ib-requirements/
A week after most of large US brokers have issued a collective statement and united under the FXDC (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 Dealers Coalition) brand name they have also issued their own statements regarding the proposed CFTC rules concerning Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and IB relationships.
The FXDC is now comprised of: GFT, Oanda, IBFX, Gain Capital, FXCM, FX Solutions, FXDD, PFG Best, CMS Forex and Alpari US.
Now you can read what your own broker thinks of the upcoming rules. Here are links to their statements:
FXCM: https://www.financemagnates.com/forex/analysis/fxcms-response-to-cftcs-new-proposal/
GFT: https://www.gftforex.com/about/2010-articles/gft-20100118-CFTC.asp
Oanda: https://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi?ubb=get_topic;f=15;t=009611#000000
IBFX: https://www.ibfx.com/Corporate/post/2010/01/19/Interbank-FX-Supports-the-Original-2008-FARM-Bill-Opposes-CFTCe28099s-Proposed-Leverage-Limits-of-101.aspx
Gain Capital (Forex.com): https://www.futuresmag.com/News/2010/1/Pages/Forex-firms-speak-out-on-CFTC-leverage-plan.aspx and https://www.gaincapital.com/012110.html
FX Solutions: https://www.forexpeacearmy.com/forex-forum/general-forex-talk/8431-call-action-cftc-10-1-share-what-brokers-other-forex-groups-wrote-here.html (scroll down)
FXDD, CMS Forex: couldn't find any
PFG: https://trading-u.com/blog/index.php/archives/1502
Alpari US: https://www.fxstreet.com/news/forex-news/article.aspx?StoryId=0482ced1-4857-46ba-932f-b17f770b3b2
MB Trading (not part of FXDC as far as I know): https://www.financemagnates.com/forex/brokers/mb-tradings-response-to-the-cftcs-leverage-and-ib-requirements/