Tag Archives: retail brokers

Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme

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Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
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Saxo Bank launches Forex Binary Options

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In our recent interview Claus Nielsen, Global Head of trading, hinted that Saxo would launch binary options soon. This didn’t take long and Saxo announced that they will be offering Binary Touch options in six currency pairs.
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Saxo is expanding with average client deposit reaching 50K USD – Claus Nielsen, Global Head of Trading

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As Global Head of Trading at Saxo Bank, Claus Nielsen manages a team of 55 professionals operating out of their Copenhagen and Singapore offices. The team handles the risk and flow in all the different asset classes, including FX, interest …
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FXCM Reports Monthly Metrics for June 2011 – Retail Customer Trading Volume of $938 billion for Q2/2011 -Highest in FXCM History

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Overall the June 2011 metrics were lower compared to May 2011 metrics but higher than June 2010 metrics. Normally brokers expect lower volume in the summer months due to lower volatility, but the ongoing Greek debt crisis caused an increase …
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Available Gold and Silver trading choices for US traders

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The Dodd-Frank Act which passed past last summer in the US is continuing to affect the operations of US regulated brokers and the clients they serve. A provision which goes into effect on July 16th brings into question the ability …
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NFA issues complaint against CMS Forex

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CMS FX might have ceased being a forex broker and transferred clients to Gain Capital, but it’s not out completely. On May 19th, 2011, the NFA Business Conduct Committee charged CMS with failing to implement an adequate business continuity and …
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FXCM's CEO Drew Niv on their new Dow Jones FXCM Dollar Index

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I recently spoke with Drew Niv, CEO of FXCM Inc, the first publicly traded US forex broker (NYSE:FXCM). I had a chance to ask him about FXCM’s latest product: the Dow Jones FXCM Dollar index. We appreciate his comments and …
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Oanda adds more currency pairs

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Oanda is the latest broker to offer new FX products after the introduction of the USD/BRL at Saxo and the Dow Jones FXCM Dollar index. Demand for emerging currencies from retail traders tends to peak during times of uncertainty which …
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E*Trade fined up to $300,000 by Dubai FSA for AML failings

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Much like Saxo being ‘censured‘ by the Dubai FSA for similar procedural deficiencies DFSA just announced that it settled a case with E*TRADE which agreed to pay a $300k fine. It’s odd that both cases, though seemingly identical at first …
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Mirror Trader

Bitcoin

Executive Moves

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Want a Plane? Do You Have Bitcoins? BitPremier & BitPay Raising the Bar

After bringing to the bitcoin marketplace million dollar apartments and sports cars, luxury bitcoin retailer, BitPremier is offering what is most likely the first airplane...

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Sneak Peak: Crypto St, Blending Bitcoin & Forex Trading Together

Innovation in the bitcoin sector continues to take place. Forex Magnates takes a look at Crypto St, a soon to launch bitcoin trading platform...

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DHS, Dwolla, Google Wallet & Bitcoin Prices Still Strong

US Feds Attacking Bitcoin! Bitcoin Getting Shut Down Is this the End of Bitcoin There have been some strong titled headlines since Tuesday evening about...

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New Blood at Integral’s Top Level – A Further Two Senior Executives Appointed As David Faulkner and Thomas F Koslowske Assume Office

Integral's management team expands rapidly as part of growth plan to streamline go-to-market process and keep abreast of market share gain of open FX platform.
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Ian Doull Joins Integral in Global Product Role

Technology provider Integral has announced today that Ian Doull is joining them as Managing Director of Product Marketing. Integral stated that “In this newly created...

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Exclusive: OANDA Appoints Global Mobile Banking Head Citibank as New Head of Singapore

Management changes at OANDA continue with the appointment of Rajesh Yohannan as the new Managing Director & CEO, OANDA Asia Pacific, to be based in Singapore....

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Trading in the Cloud with cTrader & ChartIQ

The rise of mobile trading on tablets and smartphones has led brokers and technology providers to launch products that allow customers to access market data anywhere, and on any device. On this note, two cloud based products were released this week.
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Sneak Peak: Crypto St, Blending Bitcoin & Forex Trading Together

Innovation in the bitcoin sector continues to take place. Forex Magnates takes a look at Crypto St, a soon to launch bitcoin trading platform that combines elements of the forex trading brokerage model with digital currencies.
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