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

FXCM just released its formal statement on the new CFTC rules and it seems they are pretty worried about the possibility of not being able to accept US clients in their own non-US subsidiaries. Potentially this means that US based brokers will have to terminate all accounts in their foreign subsidiaries belonging to US residents. [...]

Saxo Bank published its report for investors for the first half of 2010 yesterday and the results are excellent. Net profit increased 13-fold from DKK 41 million (~$7 million) to DKK 551 million (~$95million). In fact, the income rose so much that the first half year of 2010 was better than any other full year [...]

Saxo Bank has just launched another forex portal called www.forextrading.com. The folks at Saxo are doing a pretty decent job at launching new websites and portals though I have reservations regarding Saxo’s decentralized marketing effort here. Saxo only recently re-launched its tradingfloor.com website, of which I was critical at the time, which appeals to the more [...]

By Oz Golan, Tradency. Meta Quotes 5th championship take place on the 4th of October 2010, with grand total prizes of 80,000USD. The 2009 annual championship was skipped by Meta Quotes, possibly because of preparations to release the new MT5 platform and the MQL5 language. The main purpose of the competition agenda according to MetaQuotes [...]

Interbank FX just announced that it will assist client who use EAs with the transition to market orders and 5th decimal pricing. This is one of the most important changes this industry is undergoing as not so long ago brokers used to reject EA orders and even block EA trading accounts. Scalping was prohibited by many brokers, [...]

FXCM just launched its FXCM Labs which is essentially an opportunity for early adopters and enthusiastic followers to beta test new FXCM products. Currently beta testers can test FXCM’s Strategy Trader platform, a web based version of its proprietary Trading Station II platform and the same platform for mobiles (iPhone, Android, Blackberry). It’s another example of the new, [...]

By Oz Golan, Tradency. From August 1st all Forex brokers in Japan will be required to reduce their trading leverage to 1:50 by the FSA Japan (Financial Service Agency). The First effect will be on the retail users who will need to deposit more funds in order to trade the same positions they are holding. [...]

FXCM just released its pricing for coding your EAs and indicators which is pretty cool as they should have enough know-how to do it quickly and efficiently. If you remember more than a year ago I published that FXCM had a similar plan when they were offering to help you develop your strategies and also [...]

Amid NFA’s grave complaint against Gain Capital, Interbank FX CEO Todd Crossland issued a statement, which may or may not be related to this issue. And this is another fine example of what a cut throat business this is. Integral did the same when Cognotec went into receivership and FXCM offered FXPro’s US clients to [...]

FXCM are going to be releasing a new trading platform soon, called Strategy Trader. It’s not been released yet – as of right now it’s a beta, but should be out within the next few weeks. Here is a short preview of what to expect. There are quite a few differences compared to FXCM’s FX [...]