trading
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
ActForex adds FC Stone to the list of its clients
- FC Stone is one of the largest forex liquidity providers in the market and already entered the forex market through a collaboration with Integral in creating the StoneX platform. FC Stone is also Currenex's white label. Now FC Stone seems to be making its steps into the retail forex market by offering its liquidity natively through ActForex's platform which is used by many retail brokers.
Thursday, 05/01/2012 | 11:55 GMT by
Michael Greenberg
Boston Technologies attains FSA license for its prime brokerage Boston Prime
- Boston Technologies were just granted an official FSA license to its prime brokerage venture - Boston Prime. Boston's BT Prime serves as a prime brokerage for its clients plugging them to liquidity of a dozen or so banks. This also is used as a feed to those brokers who require it.
Wednesday, 04/01/2012 | 14:59 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
FX Junction launches AutoCopy - the latest social network to do so
- FX Junction is a relatively fresh entrant into the forex social space but it already made an impact by white labeling its service to Interbank FX - the first forex broker who leased this technology from a third part provider (unlike eToro for instance who indeed was the first broker with such technology, though its own). Social networks for now haven't lived up to high expectations some had - they haven't become the mass aggregators of forex traders.
Tuesday, 03/01/2012 | 10:41 GMT by
Michael Greenberg
SpotOption is first binary provider to launch mobile app
- Binary Options market which really kicked off about a year ago is undergoing rapid development. Binaries are forex on speed - everything in this industry is happening faster but emulates the forex industry quite a bit. Mobile trading became popular in the forex market only couple of years ago.
Tuesday, 27/12/2011 | 13:44 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
Nadex to launch Political binary options
- Nadex is the only authorized binary options provider in the US although many foreign binary option brokers market to American clients. Nadex is an exchange and in order to trade binaries you need to become a member. Political binaries will allow traders to basically trade on the outcome of the coming political elections. You could basically bet who's going to be the next President.
Monday, 19/12/2011 | 13:42 GMT by
Michael Greenberg
CFTC orders Gain Capital to pay a client $10,000 for lost profits
- CFTC just published its decision in a case of Robert West vs. Gain Capital and Glenn Stevens ordering Gain to pay West $10,000 for lost profits. The whole case is a fascinating read of how a regulated forex broker handles a complete novice in the forex market and how this can sometime backfire
Monday, 19/12/2011 | 08:51 GMT by
Michael Greenberg
Leverate to offer Guardian Angel by CPattern to its clients
- Guardian Angel is a nice little tool launched a year ago. Guardian Angel is an automated guidance system which gives traders the analysis and support they need to develop. By directing the trader’s attention to the strengths and weaknesses in their trading style it helps traders grow: extending their lifespan as active customers. In short, the software acts as a guide, informing traders concerning their risk. That’s at the heart of the software.
Friday, 16/12/2011 | 08:23 GMT by
Michael Greenberg
CFTC's Statement Regarding MF Global funds - We are still looking for them
- CFTC just released a statement about the final location of the missing MF Global customer funds - basically they say they are making good progress at tracking them but still cannot confirm that all funds are accounted for.
Thursday, 15/12/2011 | 15:34 GMT by
Michael Greenberg
HotSpot posts lower trading volumes in November 2011 - $55.8 billion a day
- Hotspot FX posted an average daily volume (ADV) figure of $55.8 billion with a total volume of $1,226.5 billion transacted for the month of November 2011. The platform accounted for 8.64% of spot electronic foreign exchange volumes, in relation to publicly reported venues.
Thursday, 15/12/2011 | 08:35 GMT by
Michael Greenberg
FXCM Reports Monthly Metrics for November 2011 - active accounts at peak, volume steady
- FXCM just reported its numbers for November 2011 - while total number of active accounts is at peak (162,166), retail forex volume is a little bit higher than in October 2011 (probably because in October there were 22 trading days and not 21 like in November). Institutional forex volume however is FXCM's second best ever.
Wednesday, 14/12/2011 | 21:52 GMT by
Michael Greenberg
Gold-i lands CyberAgent FX - first client in Japan for its MT4 bridge
- Gold-i is one of the oldest MT4 technology providers in the market but is certainly one of the less vocal ones. Gold-i recently started expanding into Japan and partnered with Xbridge Japan - a local distributor of MetaTrader technologies. Recently Gold-i managed to launch with CyberAgent - one of Japan's largest forex brokers. Latest Forex Magnates industry report places CyberAgent as Japan's 7th largest forex broker in terms of accounts - 162,000.
Tuesday, 13/12/2011 | 09:29 GMT by
Michael Greenberg
Boston Technologies taps Hotspot FX's liquidity
- Boston Technologies is adding Hotspot FX, which seems to be one of the fastest growing institutional FX platforms, into its network of liquidity providers. By doing so BT enhances liquidity of its BT Prime service and allows market participants unable to do so themselves to plug into Hotspot's ECN.
Tuesday, 13/12/2011 | 07:21 GMT by
Michael Greenberg
Forex Factory launches Trades - trades publishing functionality
- Looks like Forex Factory is itching closer to a social forex network model. Not too long ago FF launched Trade Explorer - a trading performance analysis service and now it enhances it by releasing Trades - a new product that tells you who’s buying, who’s selling, and basically who's doing what.
Monday, 12/12/2011 | 13:04 GMT by
Michael Greenberg
US retail forex capital grew by $30 million in October 2011
- Conversely to the September 2011 where US retail forex deposits shrank by $20 million, in October total amount of retail forex obligations by American FCMs and RFEDs grew by $30 million. It seems there's quite a volatility month on month in terms of how much money retail forex traders (not only American ones) are holding at the American retail forex brokers. This may be due to variety of reasons such as more aggressive marketing, traders' profitability, acquisitions, etc.
Monday, 12/12/2011 | 11:54 GMT by
Michael Greenberg
Binary Options industry keeps growing - SpotOption launches 13 new brands
- SpotOption just announced the launch of 13 new labels... Forex Magnates published a comprehensive overview of the industry in its latest quarterly report estimating the total number of binary brands at about 50.
Thursday, 08/12/2011 | 13:31 GMT by
Michael Greenberg
Russian newspaper publishes estimates of the local forex industry - research has never been as misleading
- I was actually going to ignore this 'research' but since just about everybody who speaks Russian sent it to me I decided to highlight it here. The research was conducted by a pretty known and respectable (until now) Russian newspaper called Interfax. The research itself is impressive in volume (91 pages) and is presented in an easy to read format.
Wednesday, 07/12/2011 | 17:15 GMT by
Michael Greenberg
Korean regulator moves to severely limit retail forex trading
- On December 1st the Korean Financial Supervisory Service introduced Sound Forex Market guidelines the purpose of which is to considerably step up forex regulation in Korea. According to Korean FSS retail forex traders have a high losing probability due to excessive leverage and insufficient understanding of risks involved.
Wednesday, 07/12/2011 | 15:50 GMT by
Michael Greenberg
End of year effect - ICAP's forex volumes down 11%
- Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt in October since the summer's peak - ICAP's fx volumes were down 11% year on year. Below you'll find ICAP's daily FX volumes averages month by month for the past 2 years. Excluding this summer's peak - overall trend is not positive.
Tuesday, 06/12/2011 | 19:50 GMT by
Michael Greenberg
DGCX November volumes rise 121 % year-on-year, currency futures represent 90% of total volume, Alpari gets license to trade for clients
- DGCX currency futures were the main driver of the growth in trading volumes in November accounting for almost 90% of total volumes. Currency futures volumes increased 200 % on last year to touch 396,740 contracts in November 2011. Indian Rupee futures volumes in November reached 379,811 contracts, a substantial increase of 310% from last year’s November volumes.
Tuesday, 06/12/2011 | 10:35 GMT by
Michael Greenberg
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