brokers
InovaTrade may very well be the next forex brokerage scam
- Although there were quite a few red flags about this brokerage available all over the internet (forexpeacearmy for instance and others) and even CFTC suing them for accepting American clients I didn't take much notice. This is because I don't think that CFTC should be allowed to impose its requirements on foreign brokers and also that there are bad reviews (sometimes very bad) about the most decent brokers - it's just the nature of this business.
Monday, 26/12/2011 | 16:42 GMT by
Michael Greenberg
FXCM takes $75 million credit facility
- FXCM just took a revolving credit facility - much similar to Gain who took $50 million back in October. It's interesting why FXCM is doing that as it according to its Q3 2011 report it has over $177 million in cash and cash equivalents. This may be because FXCM is rolling its existing debt (if it has any), planning a big acquisition or more likely - realized that it is can arbitrage the value of its stock (interest, dividends, etc) and the cost of this credit facility.
Wednesday, 21/12/2011 | 08:52 GMT by
Michael Greenberg
Singapores CFD Market grows 4% according to research
- Singapore has a well established financial services industry and margin products have been popular amongst retail investors. New research according to Investment Trends (Australian based research consultancy) found that the CFD market has grown 4%, with 4000 new traders entering the market and 3000 returning back.
Monday, 19/12/2011 | 17:33 GMT by
Adil Siddiqui
Nadex to launch Political binary options
- Nadex is the only authorized binary options provider in the US although many foreign binary option brokers market to American clients. Nadex is an exchange and in order to trade binaries you need to become a member. Political binaries will allow traders to basically trade on the outcome of the coming political elections. You could basically bet who's going to be the next President.
Monday, 19/12/2011 | 13:42 GMT by
Michael Greenberg
CFTC orders Gain Capital to pay a client $10,000 for lost profits
- CFTC just published its decision in a case of Robert West vs. Gain Capital and Glenn Stevens ordering Gain to pay West $10,000 for lost profits. The whole case is a fascinating read of how a regulated forex broker handles a complete novice in the forex market and how this can sometime backfire
Monday, 19/12/2011 | 08:51 GMT by
Michael Greenberg
CFTC's Statement Regarding MF Global funds - We are still looking for them
- CFTC just released a statement about the final location of the missing MF Global customer funds - basically they say they are making good progress at tracking them but still cannot confirm that all funds are accounted for.
Thursday, 15/12/2011 | 15:34 GMT by
Michael Greenberg
HotSpot posts lower trading volumes in November 2011 - $55.8 billion a day
- Hotspot FX posted an average daily volume (ADV) figure of $55.8 billion with a total volume of $1,226.5 billion transacted for the month of November 2011. The platform accounted for 8.64% of spot electronic foreign exchange volumes, in relation to publicly reported venues.
Thursday, 15/12/2011 | 08:35 GMT by
Michael Greenberg
FXCM Reports Monthly Metrics for November 2011 - active accounts at peak, volume steady
- FXCM just reported its numbers for November 2011 - while total number of active accounts is at peak (162,166), retail forex volume is a little bit higher than in October 2011 (probably because in October there were 22 trading days and not 21 like in November). Institutional forex volume however is FXCM's second best ever.
Wednesday, 14/12/2011 | 21:52 GMT by
Michael Greenberg
US retail forex capital grew by $30 million in October 2011
- Conversely to the September 2011 where US retail forex deposits shrank by $20 million, in October total amount of retail forex obligations by American FCMs and RFEDs grew by $30 million. It seems there's quite a volatility month on month in terms of how much money retail forex traders (not only American ones) are holding at the American retail forex brokers. This may be due to variety of reasons such as more aggressive marketing, traders' profitability, acquisitions, etc.
Monday, 12/12/2011 | 11:54 GMT by
Michael Greenberg
Russian newspaper publishes estimates of the local forex industry - research has never been as misleading
- I was actually going to ignore this 'research' but since just about everybody who speaks Russian sent it to me I decided to highlight it here. The research was conducted by a pretty known and respectable (until now) Russian newspaper called Interfax. The research itself is impressive in volume (91 pages) and is presented in an easy to read format.
Wednesday, 07/12/2011 | 17:15 GMT by
Michael Greenberg
End of year effect - ICAP's forex volumes down 11%
- Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt in October since the summer's peak - ICAP's fx volumes were down 11% year on year. Below you'll find ICAP's daily FX volumes averages month by month for the past 2 years. Excluding this summer's peak - overall trend is not positive.
Tuesday, 06/12/2011 | 19:50 GMT by
Michael Greenberg
DGCX November volumes rise 121 % year-on-year, currency futures represent 90% of total volume, Alpari gets license to trade for clients
- DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes.
Tuesday, 06/12/2011 | 10:35 GMT by
Michael Greenberg
FXCM moves retail MT4 support in-house, keeps institutional business with Boston Technologies
- FXCM and BT have certainly had one of the biggest broker-software provider relationships in the past years. BT for about three years now was supplying and supporting all aspects of FXCM's MT4 business - retail and institutional.
Monday, 05/12/2011 | 16:24 GMT by
Michael Greenberg
F for Forex, F for Finland - a discussion with FinFX
- The world of Forex has been finding its place in every part of the globe, each country can boast at least one Forex trader and now brokers are propping up from all over. FinFX an FX broker based in Finland seems to be pushing the right buttons as they have been successfully positioning themselves as an alternative for FX and in particular EA trading.
Thursday, 01/12/2011 | 22:47 GMT by
Adil Siddiqui
eToro soft launches MT4
- Without any official announcement or promotions eToro have recently soft launched the MT4 platform. While to some it may sounds trivial as it's another broker adding the popular MT4 to the list of its platforms - in case of eToro it's not trivial at all.
Thursday, 01/12/2011 | 13:41 GMT by
Michael Greenberg
FXCM releases browser based version of its Trading Station platform and more robust dailyfx signals
- FXCM introduces it web based version of the award winning FXCM Trading Station platform. FXCM Trading Station Web provides easier access to the forex market, combining uncomplicated trader functionality with an advanced GUI. This advanced web-based platform is fast, robust and exactly what FXCM clients have been asking for.
Thursday, 01/12/2011 | 12:03 GMT by
Michael Greenberg
ActForex launches FXApps - first platform integrated forex applications store
- ActForex one of the largest independent forex platform software providers has just released its FXApps store. FXApps store operates in a similar way to Apple's App Store and can be accessed from ActForex's platform. I caught up with Ilya Sorokin - ActForex's CEO:
Wednesday, 30/11/2011 | 06:32 GMT by
Michael Greenberg
Tradency launches with Invast Securities in Japan
- Tradency just announced that they scored a major deal for their Mirror Trader platform and will launch it with Invast Securities in Japan. The whole concept of MT4 and algo-trading in forex is relatively fresh in Japan and just started to pick up. This puts Tradency and the more aggressive foreign MT4 brokers in pole position to take a nice cut of the local market share if this trend continues.
Monday, 28/11/2011 | 14:29 GMT by
Michael Greenberg
ICAP and other major institutions prepare themselves for Greek Drachma trading
- Apparently major banks and broker dealers are already preparing themselves for the Greek withdrawal from Eurozone and a return to Greek Drachma scenario as according to multiple reports ICAP and others are testing their electronic trading platforms.
Monday, 28/11/2011 | 09:04 GMT by
Michael Greenberg
Saxo Bank releases an interesting infographic and video about the forex market
- It seems infographics are becoming very popular with forex brokers who'd like to enlighten traders about certain aspects of the forex market. We've had those from Pepperstone, IBFX and OANDA this year. Now comes Saxo Bank with a pretty cool infographic and accompanying video.
Friday, 25/11/2011 | 11:02 GMT by
Michael Greenberg
Federal Court Orders Forex Dealer Jacob Juma Omukwe to Pay over $2.6 Million for Forex Scheme
- Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) obtained a supplemental consent order requiring defendants Jacob Juma Omukwe and his companies, JadeFX, LTD (JadeFX) and Jade Investments Group, LLC (Jade), jointly and severally to pay over $2.6 million in restitution and civil monetary penalties to settle a CFTC anti-fraud enforcement action filed in March 2011.
Wednesday, 23/11/2011 | 15:09 GMT by
Michael Greenberg
GFT Markets’ DealBook® Wins Best Online Trading Platform in the Shares Awards
- GFT Markets, a worldwide leader in forex, contracts for differences (CFDs), financial spread betting, binary trading, and FX options is pleased to announce that its DealBook® platform has received the prestigious award for “Best Online Trading Platform” by Shares Magazine, the leading weekly publication for active traders in the United Kingdom.
Wednesday, 23/11/2011 | 15:02 GMT by
Michael Greenberg
Henyep Capital Markets named Best Global Broker at the 9th Middle East Forex & Investment Expo 2011
- Abu Dhabi, UAE, November 22, 2011 – Henyep Capital Markets is pleased to announce that it has been voted and awarded as “Best Global Broker 2011” at the 9th Middle East Forex & Investment Expo 2011. The award was announced and presented to Henyep Capital Markets on November 15, 2011 at the award ceremony that took place at the Hilton Hotel in Abu Dhabi, UAE.
Wednesday, 23/11/2011 | 08:56 GMT by
Michael Greenberg
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