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In order to get things going NFA will start accepting new applications today and which is only 6 weeks before the CFTC deadline. Good luck to all new registrants who will have to stop doing business after October 18th until they get the approval which is expected to take a while due to massive amount of [...]

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. [...]

There’s a heated debate across many websites whether the new rules mean that non-US brokers will be able to accept US clients or not. It seems that the majority of people (check Francesc and Bart’s websites) believe that foreign brokers will stop accepting US clients, even meaning that subsidiaries/affiliates of US brokers themselves will not [...]

The CFTC has finally released its final regulations concerning off-exchange retail foreign currency transactions. The rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Food, Conservation, and Energy Act of 2008, which, together, provide the CFTC with broad authority to register and regulate entities wishing to serve as counterparties [...]

Better enforcement of high-frequency and algorithmic trading is required, said a commissioner at the Commodity Futures Trading Commission, The Wall Street Journal reports. More appropriate rules and regulations need to be developed to police the high-speed nature of computer-aided trading styles, added Scott O’Malia. New rules are needed instead of conforming pit trading enforcement methods [...]

Following my last week’s article and the numerous comments and emails I received, I asked Bart Mallon from Mallon P.C. to elucidate this issue a bit further. By Bart Mallon, Esq. The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) developed a new regulatory framework for much of the investment management community [...]

In case there are some who didn’t see this: Obama recently signed the “Dodd-Frank Wall Street Reform Act” which is a comprehensive reform of the financial industry, including OTC products such as forex. Most of the posts on the internet focused on the ominous analysis of this reform by James Bibbings of Turnkey Trading Partners [...]

CFTC Charges Growth Capital Management LLC and Felon Robert Milhailovich, Sr., with Fraudulently Soliciting More than $30 Million to Trade Commodity Futures and Forex Son charged with making false statements to the CFTC for failing to disclose father’s role. Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) charged Robert Mihailovich, Sr., and Growth [...]

We’ve all seen the flashy flickering forex websites  promising excellent returns, hundreds or even thousands of percents a year and most of us told ourselves that there is no way that someone is buying that. But in fact there are such people and they are more than you can imagine. Many people see these sites [...]

Easy Forex, a fairly large Middle Eastern broker and a NFA FDM, will probably withdraw its NFA clearing FDM status in the coming months. Easy Forex today announced to all its US clients that “After a recent strategic business review at the parent company level of Easy Forex, a decision has been made no longer to accept [...]