A set of new regulatory requirements for brokers in the U.S. have been approved, leading to a final date for forex dealer members (FDMs) to implement the new risk management rules proposed by the National Futures Association (NFA).
Starting from the 4th of January, all FDMs will be required by regulators to hold an additional 5 percent of all liabilities to clients exceeding $10 million to be added to their existing $20 million capital base.
Spanish Regulator Warns against Broker Capital
Belize-based Broker Capital has been exposed by the Spanish financial regulator (CMNV) as unlicensed to provide its services within the European Union. The move comes about a month after one of the Canadian provincial regulators issued an announcement highlighting the name of the broker that had been providing its services illegally in Canada.
Alpari Interest Rates on Accounts up to 8% in USD and 15% in RUB
Alpari has taken an unusual approach towards interest rates on deposits. The company has decided to provide attractive rates to clients who are generating substantial enough volumes. Clients who generate between $5 and $50 million per month will be getting an annual interest rate totaling 3 percent if their account balance is up to $50,000. The rates increase by two percent on balances above $50,000 and another two percent on accounts holding above $500,000.
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FXPRIMUS to Offer Bitcoin Deposits through BitPay
Cyprus-based brokerage FXPRIMUS has announced that it will be providing clients of its forex and CFDs trading services with an option to deposit and withdraw in Bitcoin. The client requests will be processed through BitPay which is one of the most popular transfers engines available for merchants willing to implement cryptocurrencies.
After the account is funded, bitcoins will be converted into the designated fiat currency of choice. The broker has highlighted in its announcement that bitcoin withdrawals will be sent to the same wallet used for the deposit.
Darwinex Revamps Ranking System, Adds New Filters
Copy trading focused brokerage Darwinex has announced the revamping of its ranking system. The company has decided to remove the newbie level and change the path traders have to go through to get to the top level. The way in which risk management and loss aversion are measured has been changed. The brokerage has pledged to provide more detailed information shortly.
In addition, clients of the brokerage will be able to save investor filters and assign them an avatar to spot new trade leaders, which are called DARWINs at the brokerage. All of the trade leaders who meet a set of predefined criteria input by the user will get highlighted by the new service.