Mar 11 2010

US Introducing Brokers form their own coalition to oppose proposed CFTC rules

Looks like the opposition to the CFTC rules is picking up: Following the creation of Forex Dealers Coalition (www.fxdc.org) by most of US forex brokers, Introducing Brokers, who are expected to be severely hit by the new rules as well, are forming a coalition of their own.
Today, a group of leading Forex Introducing Brokers (IBs) announced the [...]

Mar 11 2010

NFA submits amendments to Compliance Rule 2- 30 regarding customer information and risk disclosure

NFA and CFTC are working to ensure a much more strict compliance is enacted upon traders. As a part of this process NFA would like to make sure that more information is collected about traders and that it is updated frequently.
While not in particularly interesting (just like any regulatory document) this is still something worth [...]

Mar 11 2010

CFTC Charges Texas Resident with Operating a Forex Ponzi Scheme

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that it charged Willie L. Cloud, Jr. and his investment company, C & R Financial, Inc., both of Houston, Texas, with operating a Ponzi scheme in connection with foreign currency (forex) trading.
The CFTC’s complaint, filed on March 4, 2010, alleges that, since at [...]

Mar 10 2010

FXCM now offers Trading Station II for Mobile phones

FXCM, one of the world’s largest online forex brokers, has introduced a beta version of its mobile trading platform. Available for i-phone, Blackberry, and Windows Mobile phones, FXCM’s mobile Trading Station II provides forex trading anytime and anywhere.*
FXCM Mobile TSII gives traders the ability to keep track of their account (balance, equity, and margin), [...]

Mar 10 2010

StreamBase and Gain Capital team on forex high-frequency trading

StreamBase Systems, a leading provider of Complex Event Processing (CEP) technology, today announced a new partnership with Gain Capital, a global provider of online foreign exchange services, to offer a complete solution for their mutual clients to quickly deploy FX high-frequency trading algorithms.
The deal combines StreamBase’s award-winning CEP platform and with direct adapter to GAIN [...]

Mar 9 2010

IKON GM fined $20,000 by NFA

On November 17, 2009, NFA issued a Complaint charging IKON with failure to observe high standards of commercial honor and just and equitable principles of trade; and failure to adopt enhanced supervisory procedures.
ANSWER:
On December 21, 2009, IKON filed an Answer to the Complaint in which it denied the material allegations contained therein.
Decision:
On March 4, 2010, [...]

Mar 8 2010

Weekly read: new websites, myfxbook, CFTC and ACM

New websites:

Forexkills.com – a new blog by mataf.net’s Arnaud Jeulin. In his humble words: “This is my first post here. I’m Arnaud Jeulin, the owner of Mataf.net. I live in France.I don’t think I will publish more than one or two post per month. I won’t speak about trading here, only about forex industry and [...]

Mar 5 2010

One World Capital Group Ordered to Pay $520,000 in Sanctions

Those who are a few years in this market should remember One World Capital Group which was even registered with the NFA at the time but was shut down as under-capitalized and following numerous complaints.
One World owned the 1world-forex.com domain and was barred by the NFA in early 2009 for failing to cooperate with an investigation for a Complaint [...]

Mar 3 2010

Interview with Todd Crossland – Interbank FX’s Chairman and President

Interbank FX, is a major US broker, and it is lately growing very nicely outside of the US as well. What I find in particularly appealing in this broker is its emphasis on transparency and social elements in Forex – such as the performance page which shows Interbank FX’s real time performance allowing traders to see actual [...]

Mar 2 2010

FXCM Greece opens up

Looks like FXCM doesn’t stop even for a second. Less than a month since launching another East European client with Czech Patria Direct using its Trading Station platform FXCM now expands into the Mediterranean and opens a local office in Greece which until now wasn’t a very known Forex hub. With the exception of Zulutrade [...]

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