CMS Forex to start offering VT Trader to Gain's clients
Ever since Gain Capital acquired the retail clients base of CMS 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 the popular VT Trader platform wasn't available to retail clients. Many clients wrote to me and probably to Gain Capital/CMS to complain about that. It has now been more than six months since the acquisition and despite Gain's CEO Glenn Stevens announcement that Gain is going to offer VT Trader by itself it seems that they just couldn't overcome all the integration technicalities themselves.
What's going to happen now is that retail forex clients will be able to use VT Trader when they are introduced to Gain by CMS. This is not an ideal set-up of course but I guess when your option is all or nothing and you really like the platform you'll go through this procedure.
CMS Forex itself is an NFA member Futures Commission Merchant (FCM) and approved Forex Firm. Part of CMS’ business is to provide Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term services for institutional clients, referred to as eligible counterparties, or ECPs, globally. Another part of CMS’ business is to act, under their FCM status with the NFA, as an introducer of retail clients to Gain Capital – Forex.com - which is exactly what CMS is going to do here. For CMS it's a sweet deal as they have a distinct technological advantage over any other IB because many clients demand this platform and only they provide it. If CMS would have been an IB in the first place and offered this platform I'd speculate that they will soon become a standalone broker - but it seems this is a unique situation where everything happened in exactly the opposite order.
Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.
Ever since Gain Capital acquired the retail clients base of CMS 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 the popular VT Trader platform wasn't available to retail clients. Many clients wrote to me and probably to Gain Capital/CMS to complain about that. It has now been more than six months since the acquisition and despite Gain's CEO Glenn Stevens announcement that Gain is going to offer VT Trader by itself it seems that they just couldn't overcome all the integration technicalities themselves.
What's going to happen now is that retail forex clients will be able to use VT Trader when they are introduced to Gain by CMS. This is not an ideal set-up of course but I guess when your option is all or nothing and you really like the platform you'll go through this procedure.
CMS Forex itself is an NFA member Futures Commission Merchant (FCM) and approved Forex Firm. Part of CMS’ business is to provide Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term services for institutional clients, referred to as eligible counterparties, or ECPs, globally. Another part of CMS’ business is to act, under their FCM status with the NFA, as an introducer of retail clients to Gain Capital – Forex.com - which is exactly what CMS is going to do here. For CMS it's a sweet deal as they have a distinct technological advantage over any other IB because many clients demand this platform and only they provide it. If CMS would have been an IB in the first place and offered this platform I'd speculate that they will soon become a standalone broker - but it seems this is a unique situation where everything happened in exactly the opposite order.