Forex Magnates Report Featured in IBTimes

After seeing the Quarterly Report surpass the sales target yesterday I was also happy to see that IBTimes FX (one of the largest 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 portals out there) picked up the report and cited it in their story.

Oanda Q1 Client Profitablity Falls, GFT Most 'Profitable' Broker in US: Forex Magnates

According to Forex Magnates Retail Forex Market quarterly report, Oanda witnessed a drop in client profitability. Oanda had to remove accounts which are only paid interest from the calculation as this was a new requirement set out by Commodity Futures Trading Commission (CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term).

This resulted in Oanda's profitability number dropping to 38 percent in the first quarter from 43.5 percent in the fourth quarter of 2010 and 51 percent in the third quarter.

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Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.