brokers
Q4 2011 Forex Magnates Forex Industry Report is Available
Monday, 23/01/2012 | 12:37 GMT by
Michael Greenberg
Forex Magnates launches new design and a comprehensive Forex Directory
Monday, 23/01/2012 | 11:36 GMT by
Michael Greenberg
Forex Magnates is nominated in the FXStreet's person of the 2011 Year shortlist
Friday, 20/01/2012 | 09:33 GMT by
Michael Greenberg
US forex brokers profitability report for Q4 2011 shows steep drop in number of US accounts amid increase in traders' profitability
- US retail forex industry is now showing obvious signs of slow down with number of non-discretionary retail forex accounts held with US based reporting brokers down to record 97,206. This is the lowest count reported since Q3 2010 when first such report was released.
Wednesday, 18/01/2012 | 18:53 GMT by
Michael Greenberg
BNY Mellon reaches partial settlement in its civil suit
- As was reported only a week ago BNY Mellon which was expected to settle has indeed partially settled the civil lawsuit launched against it by the NY States Attorney. As part of the settlement agreement BNY agrees to actually disclose how it executes transactions, refrain from certain representations and provide a comparison mechanism for pricing.
Wednesday, 18/01/2012 | 12:18 GMT by
Michael Greenberg
FXCM reports December 2011 monthly metrics
- FXCM just reported its December 2011 metrics and also metrics for the full 2011 year. As expected volume in December was substantially lower than in November. The reason for this is both the holidays slowdown and relatively low volatility in the currency markets. December 2011 was more than 20% higher than December 2010 which shows FXCM's year on year growth.
Tuesday, 17/01/2012 | 21:38 GMT by
Michael Greenberg
FXPro shows strong volumes in 2011
- 2011 saw record volumes traded with the likes of Hotspot and EBS, volatility helped volumes grow however the credit crunch put pressure on brokerages and we saw US based Interbank FX get taken over by Monex. None the less brokers like FXCM, IG and FXPro have been continuing to show strong results.
Tuesday, 17/01/2012 | 13:58 GMT by
Adil Siddiqui
US retail forex capital grew by $3 million in November 2011
- US retail forex capital held by FCMs, RFEDs and FCMRFDs - per CFTC's definitions - grew by most $3 million in November. These deposits describe the amount of retail forex funds held by American brokers - this may include funds not only from American clients.
Friday, 13/01/2012 | 11:59 GMT by
Michael Greenberg
CFTC issues an injunction against InstaTrade Corporation and ZTRADEFX LLC
- Instatrade Corporation, aka Insta Forex, and Ztradefx LLC were two of the 14 firms sued by the CFTC early last year. Ever since most firms didn't bother to settle with the CFTC but some did. Last week we saw that FXOpen settled the case with the CFTC paying $140,000 fine.
Thursday, 12/01/2012 | 13:59 GMT by
Michael Greenberg
BNY Mellon may settle as part of the Federal Forex suit
- After months of controversy surrounding issues over foreign exchange transactions, BNY Mellon, the world's largest custody bank, is continuing to work toward a settlement as part of a lawsuit filed by federal prosecutors.
Thursday, 12/01/2012 | 13:37 GMT by
Michael Greenberg
FXCM launches Canadian offering through Friedberg Direct
Wednesday, 11/01/2012 | 21:50 GMT by
Michael Greenberg
Alpari to sponsor NBA's New Jersey Nets
- This adds to Alpari's ongoing sponsorship of the New York Knicks, New York Rangers and the Madison Square Garden. It seems Alpari are step by step increasing their presence and advertising in United States. It also seems that some brokers have a preference for certain types of sports and they invest most of their marketing budget in the same vertical
Monday, 09/01/2012 | 09:54 GMT by
Michael Greenberg
Fidessa launches FX trading for the Buy Side
- Fidessa a leading technology solutions provider to buy side financial management firms has launched FX trading execution services.
Monday, 09/01/2012 | 08:32 GMT by
Adil Siddiqui
CFTC halts NADEX's political binaries
- Trust CFTC (and NFA) to kill any interesting initiative in the financial markets. Because if anything these political binaries are responsible for all the global financial problems, flash crash and greedy banks taking tax payers' money to pay fat bonuses...
Thursday, 05/01/2012 | 20:30 GMT by
Michael Greenberg
FXOpen settles with the CFTC for accepting US clients
- This was one of the biggest news last year - CFTC sued 14 forex firms (and then 11 more) for various infringements of its laws including accepting US clients. Some firms (offshore ones) decided to ignore this all together and keep accepting American clients, some stopped accepting them but didn't settle and some managed to settle the case.
Thursday, 05/01/2012 | 19:25 GMT by
Michael Greenberg
GFT launched iPad version of its DealBook platform, rebrands as GFT Markets
- GFT just launched its iPad version of its trading platform and visually it looks great. As a matter of fact most of platforms look great on iPad simply because it has a much bigger screen than a smartphone allowing more flexibility and better design.
Thursday, 05/01/2012 | 12:24 GMT by
Michael Greenberg
DGCX 2011 Annual Volumes Rise 110% to Record Over 4 Million Contracts
- Annual volumes for 2011 on the Dubai Gold and Commodities Exchange (DGCX) registered a substantial growth of 110% from 2010 to reach 4,044,138 contracts, the highest ever annual volumes achieved by the Exchange since inception. The annual volumes represent a value of $185.13 billion.
Wednesday, 04/01/2012 | 09:26 GMT by
Michael Greenberg
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
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