fx
ForexFolio, A New Introducing Broker, Makes Its Global Debut; Provides turnkey solutions for the Forex Market in 7 languages
- I'm very excited to see my good friend and colleague Jeff Baskin launching his new IB service and website. Jeff is a well known and respected figure in the forex market and is trying to deliver more honesty and transparency into this market. I'm sure Jeff's existing and future clients will be more than happy with his service.
Wednesday, 09/11/2011 | 15:57 GMT by
Michael Greenberg
NFA issues a Notice about MF Global; Canadian forex clients have another option now
- All the MF Global saga has left us wandering what will happen to accounts of many forex traders. According to the latest Forex Magnates survey MF Global has $20 Billion monthly retail forex volume meaning there are quite a few retail forex trading customers out there. MF Global Canada is using FXCM's Trading Station II and MT4 platforms in a semi White Label way. This allows MF Canada clients to jump ship and move to same platform but with a different broker (that is if they are able to extract their funds).
Tuesday, 08/11/2011 | 13:50 GMT by
Michael Greenberg
ICAP October volumes down 7% in October
- ICAP October volumes down 7% in October
Monday, 07/11/2011 | 17:05 GMT by
Michael Greenberg
Boston Technologies partners with FXBridge on offering FX Options trading platform
- Boston Technologies has collaborated with FXBridge and will offer its FX Options trading platform along with its forex trading solutions. BT's clients will now be able to gain access not only to the suit of MT4 spot trading products but to FX Options trading ones as well. It seems that enriching technology offerings is becoming the key differentiator between various technology providers who understand now that forex brokers not only need a basic trading platform but also additional products such as a web version of it, back office, bridge, etc.
Monday, 07/11/2011 | 16:27 GMT by
Michael Greenberg
State Bank of Vietnam tightens forex trading oversight
- Vietnam draws a lot of interest from retail forex brokers lately as it is a strong economy and a large untapped market for them. Most of them still operate there just like they operate in China - through local IBs or through online marketing only however some are thinking of opening local branches, subject to regulatory limitations.
Monday, 07/11/2011 | 06:48 GMT by
Michael Greenberg
Swissquote publishes strong results for first 9 months of 2011 - Forex volume up
- In line with its semi-annual report Swissquote continues to see healthy growth in its results. Swissquote fulled merged ACM operationally and into its books and as expected it fuels its growth. Swissquote's eForex numbers are up on all parameters. Swissquote's volume is up 7.3% to CHF 36.53 Billion a month however dollar value is down to $41.54B due to exchange rates. eForex assets are up to CHF 130.4 million and client accounts are up 5.7% to 10, 464 accounts at the end of September 2011.
Friday, 04/11/2011 | 09:35 GMT by
Michael Greenberg
Admiral Markets to launch 4th Round of its ForexBall competition
- Admiral Markets is about to launch the 4th round (out of 4) of its ForexBall forex trading competition. This one is an interesting concept as through several rounds it allows traders to participate and earn awards more than once. There's also an additional round just for winners - with bigger prizes.
Thursday, 03/11/2011 | 11:47 GMT by
Michael Greenberg
Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme
- Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
Wednesday, 02/11/2011 | 12:34 GMT by
Michael Greenberg
Binary Options - Overview of the industry in Q3 2011
- I’ve been always fascinated with the emerging binary options market – mainly because it’s a very simple trading instrument and technology is readily available. At first I thought it would be just another trend of many which will end up being a marginal part of the online financial trading business. Recent developments have proven me wrong.
Wednesday, 02/11/2011 | 11:20 GMT by
Michael Greenberg
CFTC-SEC Statement on MF Global, hundreds of millions of client funds may be missing
- This story just keeps getting 'better' - since yesterday's post about MF's possible sale, MF has declared bankruptcy and was trying to be bough by IB. However the deal doesn't seem to go through as there are suspicions that huge amount of client funds is missing.
Tuesday, 01/11/2011 | 13:18 GMT by
Michael Greenberg
NFA finalizes several new rules - requires more reporting, governs US forex M&A deals
- NFA has just published set of new rules it has been working on lately. The result is a daily, monthly and quarterly reporting requirement from brokers regarding client positions. NFA also reminds its members of certain key responsibilities and finally published set of rules governing situations of forex M&As - what happens when a US forex broker buys another one and there's a bulk transfer of accounts. This of course missed quite a few such deals we've witnessed this year such as Gain/CMS and Gain/dbFX.
Tuesday, 01/11/2011 | 09:24 GMT by
Michael Greenberg
MF Global may file for bankruptcy protection and sell to Interactive Brokers
- NEW YORK (Reuters) - Troubled brokerage MF Global Holdings Ltd was nearing a deal late on Sunday night to file for bankruptcy protection and sell assets to Interactive Brokers Group , media reports said.
Monday, 31/10/2011 | 11:38 GMT by
Michael Greenberg
Saxo Bank launches aggregated FX Spot positions visual tool
- Saxo Bank has just released a new tool allowing anyone to see the aggregated positions of its clients across 10 forex currency pairs. The tool shows the relative size of position by USD value held by Saxo Bank clients in a selection of currency pairs, and the relative proportion of longs versus shorts by currency pair. It also shows aggregated positions at certain pip levels which may help clients learn of support and resistance positions. Tool also shows simple charts of those currency pairs.
Monday, 31/10/2011 | 09:28 GMT by
Michael Greenberg
Gain Capital reports Q3 2011 Results - Net Revenue $53.9 million
- Gain just released its Q3 2011 results which show a solid increase in revenues and improvement in net income. Retail volume was almost unchanged from Q2 2011. Gain's institutional GTX platform is experiencing high growth and its volumes were $260 billion in Q3 - a little more than third of all Gain's volume.
Thursday, 27/10/2011 | 21:16 GMT by
Michael Greenberg
Fall of MF Global’s Jon Corzine (Part 1)
- Shares of MF Global plunged to $1.07 on Wednesday when the company reported its largest quarterly loss ever on Tuesday, ($191.6 million loss). Close to 90% of the market cap has vanished since former New Jersey Governor took over as CEO for Brokerage giant MF Global. On Monday Moody’s downgraded MF Global debt to just above junk status. As of Wednesday, the company's bonds were trading at an 18% yield underscoring a lack of investor confidence in Jon Corzine’s capacity to manage the company as CEO.
Thursday, 27/10/2011 | 11:03 GMT by
FMAdmin Someone
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
CFTC Charges Linda Harris, Chance Harris and Two of Their Companies with Forex Fraud
- Linda Harris's name sounded vaguely familiar and I went through all my contacts and emails. And viola! in May 2009 (one month after FM's launch) I found an email exchange with Linda Harris who used the lharris@cdhgroupllc.com email and represented to me that she was a registered CTA offering Forex investment management via Managed Account Program and Forex Investment Advisory service. She also said that she used Advanced Markets for her Managed Accounts Program.
Tuesday, 25/10/2011 | 20:36 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
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
FxStat launches Managedbook - advanced Market Leaders portfolio management
- Managedbook is an innovative service that will allow you to create your own currency portfolio by following as many Market Leaders as you want and choosing the exact currency pairs you want to invest in. The system works by Market Leaders providing signals once they buy or sell a currency, signals that are immediately and automatically executed into their followers’ account (similar to FxStat Tradebook).
Monday, 24/10/2011 | 09:37 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
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