Forex Magnates is the home of the Forex Elite providing up to date industry news coverage, commentary and scoops

Our detailed commentary from last week both before and after the FOMC statement on Wednesday noted that we believe that the Fed’s comments would lead to USD strength in coming weeks. So far our theory has been tested as USD has fallen to levels that printed before the FOMC statement. EUR/USD is trading at 1.4110, [...]

FXCM, in its efforts to expand, is now looking to add Financial Analysts and Bloggers to its war-chest. Saxo Bank beware – France, Germany and Sweden are targeted. About Us FXCM, an INC 500 company, leads the rapidly expanding field of online currency trading services for retail and institutional traders. The firm operates out of [...]

Jon Pexton, Interbank FX, Acknowledged As A 2009 CFO of the Year Financial Champion by Utah Business Magazine.  http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=da3c305c-d2f2-444f-a5df-68c0300fbfcf The Securities and Exchange Commission today voted unanimously to propose rule amendments designed to significantly strengthen the regulatory framework for money market funds to increase their resilience to economic stresses and reduce the risks of runs [...]

Looks like the major brokers find it hard to compete with MT4 with their own platforms. MT4 is a one of the best platforms for traders and one of the worst for Forex brokers – which always resulted in a major conflict between brokers and traders. FXCM recently added MT4 to accompany its own Trading [...]

If you noticed, I’m monitoring here all the Forex ponzi and fraud scams that I know of in order to warn potential naive investors from investment that sound too good to be truth. Every once in a while these scammers are caught and convicted and are sent to serve long terms in prisons, although the [...]

We re-iterate our comments from last night. The Fed did comment that they forsee rates staying low for quite some time. That statement was enough for us to buy USD by shorting EUR/USD. Our next target level is 1.3680. See below graph of daily price action for EUR/USD overlaid with Fibonacci lines.

The US Federal Reserve prints it’s FOMC statement tomorrow at 2:15pm EST. After the Fed’s last FOMC announcement, we saw the futures markets price in a much higher expectation of the Fed increasing US short term interest rates by the end of 2009. Without going into the mechanics of futures, US Treasuries and the USD, [...]

Yesterday I talked about Market Making brokers today I’ll discuss STP and ECN brokers. Forex Broker, which is not a Market Maker, is either a Straight Through Processing Broker (STP) or an Electronic Communications Network Broker (ECN). These types of brokers are typically (and sometimes erroneously) called Non Dealing Desk brokers. ECN Brokers:

Fap Turbo Swiss. The next Generation of Fap Turbo Build 2. Launches June 30th. http://www.prlog.org/10265364-fap-turbo-swiss-the-next-generation-of-fap-turbo-build-2-launches-june-30th.html Is this the real Build 2 of the original and highly successful (at least marketing-wise) robot or is it a copy-cat? UNICREDIT GROUP: The financial institution said it appointed Nick Crawford as global head of forex, with immediate effect. Based in London, [...]

As I promised last week here goes the hopefully useful explanation about the various types of retail Forex brokers. Ever wanted to understand the difference between a DD, NDD, STP, MM, and ECN? Then this post should answer most of your questions. First of all you need to understand that in this complex Forex world [...]