brokers
AvaFX partners with ayondo - a new signal following platform
- It seems forex signal/trade following is the biggest trend now with just about everybody offering their own version of this - Currensee, Tradency, Zulutrade, FxStat, fxjunction, Collective2, eToro and dozens of other smaller services. Each of these providers has its own platform with or without social aspects, some offer signal trading, others actual traders following. Some platforms are very simple, others are advanced are professional. Today we see AvaFX (one of the fastest growing fx brokers) partnering with ayondo- a relatively unknown/new signal following service. ayondo seems to be a German venture and has also partnered with UK based ActivTrades.
Thursday, 27/10/2011 | 10:40 GMT by
Michael Greenberg
Massachusetts posts BNY Mellon internal emails - smoking gun is there?
- BNY Mellon and State Streep Corp are under increasing regulatory scrutiny for alleged overcharging of their institutional clients in forex transactions. Steven Grossman, Massachusetts State Treasurer, estimated that BNY Mellon overcharged the state’s pension fund by over $20 million, after additional analysis this figure now seems to be over $30 million.
Wednesday, 26/10/2011 | 17:21 GMT by
Michael Greenberg
Forex Magnates Q3 2011 Retail Forex Volume Survey - FXCM world's largest forex broker
- As every quarter Forex Magnates is conducting its retail forex market volume survey as part of the Quarterly Forex Industry Report. Below is an excerpt of survey which shows that outside Japan volumes have grown by 5.1% while including Japan they dropped 2.9%. Global retail forex volume is now $219 Billion daily and $4824 Billion monthly.
Tuesday, 25/10/2011 | 10:38 GMT by
Michael Greenberg
An interview with Brian King of Penson Worldwide
- Penson Financial Services, Inc. one of the largest broker dealers recently launched MetaTrader4 for its growing FX trading client base. With the ‘US client‘ trading rules amendment post Dodd Frank Penson has entered into a strategic relationship with a leading Swiss FX bank. Forexmagnates team caught up with Brian King; Vice President of Sales – FX products, to discuss Penson’s current and future growth plans.
Monday, 24/10/2011 | 18:09 GMT by
Adil Siddiqui
China Union Pay suspends credit card processing for forex brokers for at least a month
- This was sent to several forex brokers and is a huge blow to them as it was one of the only available safe methods of accepting money from Chinese clients: I regret to inform you that we received a formal notification from China Pay this morning regarding the suspension of processing for all the Forex business at the China Pay side commencing 1st Nov for about a month’s time.
Monday, 24/10/2011 | 11:37 GMT by
Michael Greenberg
Trade Interceptor partners with Swissquote Bank
- Trade Interceptor is an interesting concept as the platform allows investors to trade with several forex brokers simultaneously, from a single interface. Traders interested in trading this way will need to open individual accounts with participating brokers and link their accounts to Trade Interceptor which can be a great way of testing how your personal trading style works with various brokers.
Friday, 21/10/2011 | 11:28 GMT by
Michael Greenberg
Forex Magnates Q3 2011 Retail Forex Industry Report is now available - FXCM is now world's largest retail forex broker
- The Q3 2011 Report includes: Market overview, key developments, volume and forecast Media Forex Websites Traffic Survey Articles: Forex in the Middle East FX Margin business in Korea
Friday, 21/10/2011 | 09:52 GMT by
Michael Greenberg
GFT launches FX Options in addition to CFDs and Binaries
- GFT is making some serious additions to its DealBook platform and now offers FX Options (in Europe) in addition to CFDs and Binaries which were launched just day before. This turns GFT's DealBook platform into a truly multi-asset trading one - which is a great advantage as clients can trade any type of instrument using single access and same interface.
Friday, 21/10/2011 | 09:19 GMT by
Michael Greenberg
HotSpot September 2011 volume is up 101% year on year
- Forex volumes in Q3 2011 are at peak (excluding Japan where they dropped a little due to reduce leverage requirement) as evident in the Q3 2011 Forex Magnates Industry Report that has become available to existing clients this morning and will become publicly available on Friday.
Wednesday, 19/10/2011 | 14:29 GMT by
Michael Greenberg
GFT now offers CFDs and Spread Betting Binaries
- In another sign that binary option trading is one of the more interesting products out there GFT, one of world's largest forex brokers, now announced that it will start offering CFDs and spread betting binaries. GFT is now the second major forex broker to start offering binary trading after Saxo Bank has introduced its Touch Options back in August. Just like Saxo Bank GFT here is using its own technology and not third party's.
Tuesday, 18/10/2011 | 13:25 GMT by
Michael Greenberg
Conversion Pros partners with Leverate to provide marketing services to its clients
- Established by top marketing and search forex executives in Cyprus Conversion Pros is the rising power in forex marketing agencies.Conversion Pros recently partnered with SpotOption - the largest binary software provider. Leverate is one of the largest MT4 service providers and recently struck a deal with Saxo Bank to enhance its financial strength and liquidity.
Tuesday, 18/10/2011 | 11:27 GMT by
Michael Greenberg
US Forex brokers profitability report for Q3 2011 - OANDA back on top, profitability up
- Finally all US retail forex brokers have updated their profitability stats and the result is surprising - overall profitability is up. This is despite the very volatile quarter forex markets have experienced which typically leads to high losses to forex traders. Apparently forex traders coped with this volatility better than I had expected.
Monday, 17/10/2011 | 15:41 GMT by
Michael Greenberg
FXCM Debuts Currency Rates on the NYSE Trading Floor
- It seems that FXCM marked a new frontier - to become world's premier currency rates supplier. FXCM just announced that it will stream rates on the NYSE floor and back in May 2011 it launched the Dow Jones FXCM Dollar Index (interview with CEO Drew Niv here). This would mean of course that FXCM steps into the territory of larger and more established currency players like Reuters and ICAP.
Monday, 17/10/2011 | 08:29 GMT by
Michael Greenberg
State Street faces class action suits over forex prices
- Two subsidiaries of State Street Corp. were hit Wednesday with a proposed class action on behalf of several retirement funds alleging the financial services company added an undisclosed mark-up in foreign exchange transactions.
Friday, 14/10/2011 | 08:34 GMT by
Michael Greenberg
FXCM Reports Monthly Metrics for September 2011 - retail volume at peak, acquires Foreland for $17 million
- FXCM Inc. (NYSE: FXCM) today announced certain key operating metrics for September 2011 for its retail and institutional foreign exchange business. FXCM also announced that it completed the acquisition of the Japanese broker Foreland for $17 million. I estimated the deal to be at the region of $10-12 million.
Friday, 14/10/2011 | 07:35 GMT by
Michael Greenberg
Interbank FX releases a Future of Algorithmic Trading infographic
- Interbank FX releases a Future of Algorithmic Trading infographic
Thursday, 13/10/2011 | 17:48 GMT by
Michael Greenberg
FxPro releases Q3 2011 forex metrics - volume is slightly up
- FxPro Financial Services Ltd (FxPro) a leading global forex broker today announced its operating metrics for the third quarter of 2011. FxPro started releasing its opearting metrics (even though it's not a public company) in the previous quarter. FxPro has since shown that it improved in any possible metric since the IPO data which was released by Forex Magnates back December 2010.
Thursday, 13/10/2011 | 17:33 GMT by
Michael Greenberg
CFTC releases August 2011 financial data - total US forex deposits up $19 million
- Every month or so CFTC releases financial data for its members. In the past year or so CFTC also releases the total amount of retail forex obligations for retail forex brokers (under FCMRFD and RFED statuses) which shows us how much 'retail money' is held by US forex brokers.
Tuesday, 11/10/2011 | 22:25 GMT by
Michael Greenberg
New fx broker MahiFX launching - an interesting teaser
- A new FX brokers looking to launch fx trading is always concerned with how to attract new clients. Most wait till they are fully ready and then splash the cash on Google and banners. Others decide to invest in a pre-launch teaser strategy such as what MahiFX did below
Monday, 10/10/2011 | 08:02 GMT by
Michael Greenberg
Forex Brokers on YouTube
- This article is part of a series of in-depth discussions of Social Marketing in the FX Broker Industry by Media Group London, a full-service marketing agency specializing in the online trading industry. Previous articles include discussions of FX Brokers on Facebook and Twitter.
Wednesday, 05/10/2011 | 21:41 GMT by
FMAdmin Someone
BNY Mellon hit with $2 Billion suit over forex rates
- BNY Mellon is now being sued for $2 billion by the New York Attorney General over forex transaction prices. Trust the magic of Wall Street however to make wonders as the stock price has only dropped 3% amid these news.
Tuesday, 04/10/2011 | 21:29 GMT by
Michael Greenberg
LMAX to launch MultiCharts - a charting and autotrading platform
- LMAX, the first FSA authorised CFDs trading MTF (multilateral trading facility), has posted a short message on its blog that it is about to soon launch MultiCharts - a charting and autotrading platform that uses the TradeStation EasyLanguage.
Monday, 03/10/2011 | 18:21 GMT by
Michael Greenberg
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