regulation
Federal Court Finds that Gary and Brenda Martin and Queen Shoals Consultants Defrauded Customers in Forex Scheme
Tuesday, 09/08/2011 | 13:05 GMT by
Michael Greenberg
Suspended FX Broker - iForex gets Green Light to Trade
Monday, 08/08/2011 | 05:56 GMT by
Adil Siddiqui
Turkish Lira takes a dive on the back of central bank cuts
Friday, 05/08/2011 | 14:36 GMT by
Adil Siddiqui
$30 Million Forex Ponzi Scheme unveiled
- Another one gets caught. The rise in Forex Ponzi schemes has been remarkable over the last two years. Culprits are misuing FX trading as a front, promising returns of over 10%. David R. Lewalski, formerly of Gainesville, Fla., pleaded guilty today to mail fraud in connection with his operation of a $30 million investment fraud scheme,
Tuesday, 02/08/2011 | 14:37 GMT by
Adil Siddiqui
Swissquote publishes H1 2011 results, forex volume slightly up
- Swissquote, the Swiss Bank which recently acquired ACM, has just published its financial results for the first half year of 2011. The Bank improved in almost all metrics and its forex (what they call eForex) volume is up 5% from the first quarter. Swissquote's average monthly volume is now 35 billion CHF - equal to $42.4 Billion.
Friday, 29/07/2011 | 11:10 GMT by
Michael Greenberg
PFGBEST Enters China
- It is no surprise to us that PFGBEST is focusing on China. Just to give you an idea on the potential for currency trading in China: Industry leader FXCM announced that Chinese residents accounted for $418 Billion in volume for the fiscal year 2010.
Friday, 29/07/2011 | 10:56 GMT by
FMAdmin Someone
CFTC Charges Susan G. Davis, David E. Howard II, Joseph Burgos, and their Companies with Fraud in Forex Scheme
Friday, 29/07/2011 | 05:26 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
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
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
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
Available Gold and Silver trading choices for US traders
Tuesday, 05/07/2011 | 16:07 GMT by
FMAdmin Someone
Swissquote/ACM too announces that it will no longer be able to accept retail forex traders come July 15th
Monday, 04/07/2011 | 13:28 GMT by
Michael Greenberg
Alpari too to partner with Dukascopy in offering its JForex platform to US clients
Friday, 01/07/2011 | 07:21 GMT by
Michael Greenberg
CFTC Charges Flint-McClung Capital LLC and Shawon McClung with Fraud and Misappropriation in $1.9M Forex Ponzi Scheme
Friday, 01/07/2011 | 06:41 GMT by
Michael Greenberg
CFTC Charges Louis Giddens, Anthony Dutton and Michael Gomez with Fraud and Misappropriation in $1.4 Million in Forex Scheme
Thursday, 30/06/2011 | 21:58 GMT by
Michael Greenberg
FXDD to partner with Dukascopy, will offer JForex to US clients
Thursday, 30/06/2011 | 15:29 GMT by
Michael Greenberg
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