fx
CitiFX Pro Named Best Retail Platform by FX Week
- New York and London – CitiFX Pro has been named “Best Retail Platform” by FX Week at their 2011 e-FX awards. The award recognizes industry excellence in a bank or vendor platform designed for electronic foreign exchange trading by individuals and small institutions.
Tuesday, 19/07/2011 | 16:28 GMT by
Michael Greenberg
Industry Updates: City Index, FXAll, Getco
- Industry Updates: City Index, FXAll, Getco
Tuesday, 19/07/2011 | 13:05 GMT by
Michael Greenberg
ISDA concerned about Netting in OTC markets
- ISDA a global association working to increase efficiency in OTC derivatives markets highlights the need for greater efficiency in Netting. Netting is a risk management tool used to reduce settlement and credit risk in OTC FX trading between counterparties.
Tuesday, 19/07/2011 | 12:02 GMT by
FMAdmin Someone
Alpari to sponsor West Ham United
- Looks like our article about Forex and Sports (in the Q2 2011 report which will become available tomorrow evening) was spot on as the trend of Forex broker sponsoring various sport teams continues. Alpari just announced that it'll sponsor West Ham United during the next three years. West Ham was relegated to the Championship league from the Premier league last season but it has a large supporters base in London.
Tuesday, 19/07/2011 | 07:13 GMT by
Michael Greenberg
Integral Recognized as Best Trading Technology Vendor 2011 by FX Week
- MOUNTAIN VIEW, Calif. (July 18, 2011) — Integral Development Corp. (www.integral.com), a leading provider of FX trading solutions and services, announced today that FX Week has awarded the firm with the coveted e-FX Award 2011 for Best Trading Technology Vendor.
Monday, 18/07/2011 | 07:00 GMT by
Michael Greenberg
SEC and CFTC go after fleeing forex scammer Jeffery Lowrance
- Washington, D.C., July 15, 2011 – The Securities and Exchange Commission filed fraud charges Thursday against the CEO of a purported foreign currency trading firm, alleging he scammed hundreds of investors with false promises of high, fixed-rate returns while secretly using their money to fund his start-up alternative newspaper.
Sunday, 17/07/2011 | 07:30 GMT by
Michael Greenberg
MarketSimplified announces major growth in forex mobile usage and the opening of US office
Friday, 15/07/2011 | 08:06 GMT by
Michael Greenberg
NFA sanctions Capital Market Services $75,000 mainly for multiple platform outages
- National Futures Association (NFA) has imposed a monetary sanction of $75,000 against Capital Market Services LLC (CMS), a Futures Commission Merchant located in New York, New York. The Decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in May 2011 and a settlement offer submitted by CMS.
Friday, 15/07/2011 | 06:26 GMT by
Michael Greenberg
Alpari announces that it reached a $210 billion volume in May 2011
- This is pretty steep and shows a high growth for the company, well beyond industry averages. Forex Magnates latest retail forex market volumes report will show an average daily volume of $237 Billion and almost $5 trillion monthly. Most retail forex brokers grew in volume, but at a lower pace than what Alpari here claims.
Thursday, 14/07/2011 | 11:06 GMT by
Michael Greenberg
Binary Options Software Providers - spotlight on Tradologic
- With an increasing popularity of binary options trading it's about time to shed some light on this industry. There's a short snapshot about it in the upcoming quarterly report (to be released a few days from now). In general this industry is controlled by only a handful of software providers (outside giants like IG) who compete on existing and new broker clients. There are about 40-50 binary option brokers out there.
Thursday, 14/07/2011 | 09:10 GMT by
Michael Greenberg
CFTC Obtains Default Judgment and Permanent Injunction against David L. Ortiz, Goyep International and Royal Retuerns for forex scam
- Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge K. Michael Moore of the U.S. District Court for the Southern District of Florida entered an order of default judgment and permanent injunction against David L. Ortiz of Vero Beach, Fla., and his companies, Goyep International, Inc. (Goyep) of Vero Beach, Fla., and Royal Returns, Inc. of Hollywood, Fla.
Wednesday, 13/07/2011 | 12:50 GMT by
Michael Greenberg
FXDD is offering a deposit bonus to Dukascopy's clients moving their accounts
- FXDD recently sent this email to existing Dukascopy's clients who already moved over and is making this known to the wide public as well. Yesterday Alpari too published a promotion trying to attract as many Dukascopy's clients as possible.
Tuesday, 12/07/2011 | 09:38 GMT by
Michael Greenberg
CySec fine GIGFX and FXYard for showing operations out of Cyprus despite not being regulated
- CySec has just announced (it's in Greek) that it had fined both GIFX and FXYard for stating that they operate out of Cyprus despite not being registered with the commission. CySec fined GIGFX 5,000 euro because it intended to submit application to CIF.
Tuesday, 12/07/2011 | 09:27 GMT by
Michael Greenberg
US Forex brokers profitability report for Q2 2011
- All brokers (except Tradestation) have updated their profitability numbers for the second quarter 2011. What clearly stands out is the drop in profitability experienced by clients of all brokers (with the exception of Advanced Markets - but its numbers are insignificant). On average clients' profitability dropped 4% since last quarter. When talking to brokers most of them stated the same reason for this - increased volatility during the quarter.
Monday, 11/07/2011 | 19:35 GMT by
Michael Greenberg
Hungarian FSA suspends iForex's license, fines it $100,000
Monday, 11/07/2011 | 14:39 GMT by
Michael Greenberg
Alpari introduces a no commission incentive for US Dukascopy clients
- It seems that Alpari isn't wasting time trying to monetize its fresh partnership with Dukascopy. Alpari has a good reason too - it is not the only US broker to partner Dukascopy - FXDD was the first one. It is a two horse race against the time - who will get the most US Dukascopy's clients and Alpari therefore just announced a no commission offer for month and a half for Dukascopy's clients moving their accounts over to it.
Monday, 11/07/2011 | 14:03 GMT by
Michael Greenberg
CME Group Announces the Launch of New Yuan FX Futures Contracts
- Offshore Yuan trading is certainly becoming a hot topic lately. With many estimates that the Chinese government will slowly further loosen up the band for Yuan exchange rate many banks and brokers are becoming involved with various Yuan trading options. This opens way for both hedging and speculating.
Monday, 11/07/2011 | 07:16 GMT by
Michael Greenberg
Class action suit against FXCM for alleged inflated IPO price is dismissed with prejudice
Friday, 08/07/2011 | 10:19 GMT by
Michael Greenberg
Exchanges still competing in the FX Space: Deutsche Börse moves into FX derivatives
- The growth of the FX OTC market has put pressure on recognised exchanges across the globe as volumes were shrinking in traditional products like equities and bonds. CME offers FX futures on around 50 pairs, including majors and emerging like the Korean Won and Russian Rubble, and a daily volume in the range $100 billion plus (notional value). Other leading exchanges like the SGX and Eurex also have some sort of FX offering.
Friday, 08/07/2011 | 06:58 GMT by
FMAdmin Someone
FXDD to continue offering non leveraged spot Gold and Silver trading
- Just like OANDA who announced two weeks ago that it will continue offering non leveraged spot metals trading FXDD too will continue offering this to its clients. It seems that US forex brokers are split between two options: discontinue spot metals trading at all (just like Gain did) or continue offering it on a non leveraged basis. Perhaps Gain rushed into a decision and will now reconsider given that two other US brokers (OANDA and FXDD) decided to keep offering this type of trading.
Friday, 08/07/2011 | 06:50 GMT by
Michael Greenberg
CFTC charges Mark Rice and Financial Robotics with forex solicitation fraud
Thursday, 07/07/2011 | 20:51 GMT by
Michael Greenberg
Tadawul FX will no longer accept US clients from July 8th
- This is an odd announcement to say the least, after all foreign forex brokers had to stop accepting US traders since October 2010... Apparently Tadawul FX has been accepting US clients until now and will only stop doing that after July 8th. Not sure exactly why they kept accepting US clients especially given their European regulation and given that CFTC is aggressively pursuing any offshore broker accepting US traders.
Thursday, 07/07/2011 | 05:51 GMT by
Michael Greenberg
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