Recent content by forex scholar

May Net Capital Report The CFTC has just released their latest net capital figures. This is the current state of the U.S. retail fx industry: Financial Data for FCMs Advanced Markets $20,722,000 Easy Forex $20,928,000 Ikkon Royal $21,247,000 MB Trading $21,360,000 Alpari $22,312,000 Forex...

IBFX Plays Chicken with FIFO Deadline On July 31 the NFA’s FIFO order comes into effect. As of this moment the MT4 trading platform is not compliant with this rule and there is no guarantee that it will become compliant come the July deadline. For firms that heavily rely on MT4 this is bad...

Forex Dealer Dead Pool Alumnus Busted for Fraud Former SNC Investment CEO Peter Son has been hauled into court by federal regulators a year after he disappeared during an NFA investigation into missing funds covered on this thread back in October of 2008: NFA Forex Dealer Dead Pool - Page 21 -...

April Net Capital Report The CFTC has just released their latest net capital figures. These appear to be the finalists who have survived the net capital guillotine: Financial Data for FCMs The following firms have net capital below $20 million Easy Forex $15,549,000 Ikkon Royal $16,355,000...

Top Forex Dealers by Volume Michael Greenberg at Forex Magnates has released an interesting new survey on forex broker trading volumes (in the billions). Top retail Forex brokers report well over $100B in daily traded volume | Forex Magnates Monthly Trading Volume 1. FXCM $560,000,000,000...

What do Crown Forex and Chrysler have in Common? They are both stuck in bankruptcy with creditors (and traders) waiting in a line that stretches around the block. Let that be a lesson to anyone who owns shares in General Motors or has an account with an unlicensed Swiss Broker. Here are the...

FXDD Not Fighting, Just "talking" with NFA Interesting post from Francesc at FX Street regarding FXDD’s decision not to implement the NFA’s new hedging rule. Jim Green, Managing Director at FXDD, wrote in to say that FXDD “was not fighting NFA.” They’re just having “constructive...

FXDD's Ominous Anniversary FXDD is making waves these days by refusing to adopt the NFA’s new hedging rule: Francesc’s Weblog Retail Forex Industry - FXDD fights NFA’s Hedging rule while FXSolutions launches Gold & Silver trading How can they do this? Simple. FXDD still isn’t licensed by...

March Net Capital Numbers The CFTC has just released their latest net capital figures. With I Trade FX and GFS Forex departing the U.S. market that leaves only a little more than a dozen firms left standing. Financial Data for FCMs The following firms have net capital below $20 million Easy...

GFS Shutting Down U.S. Forex Operation The stampede of small brokers out of the U.S. market continues. GFS Forex and Futures has announced they are shutting down their U.S. forex operation. GFS has purchased City Credit Capital in the U.K. and is relocating their business to London. However...

NFA Delays Ban on Stops/Limits NFA Delays Ban on Stops/Limits Francesc at FX Street is hearing that the NFA’s rule banning the use of stops/limits as part of the NFA’s new FIFO edict will not be enforced until July 31st: Francesc’s Weblog Update1 NFA Not allowing stop and limit orders -...

FXCM Buys I Trade FX Looks like I Trade FX is throwing in the towel. With the NFA fining them $250,000 over the Olint affair and the $20 million capital requirement set to kick in I Trade FX is officially calling it quits: FXCM Acquires Clients of i-Trade FX The U.S. industry consolidation...

So long Stop & Limit Orders? The new hedging rule, which is set to kick in on May 15, (the June 12 date is when grandfathered orders must be closed as well), is even more complicated than first thought. First, Back Bay FX, an introducing broker to several of the big forex dealers, is...

Is there more to the Hedging Rule than meets the Eye? Lots of news to cover with I Trade FX being fined, Crown Forex in a knock down drag out fight with clueless Swiss regulators and the next cap requirement set to kick in. More on these topics in the days to come… But I’ve been doing a lot...

Good News/Bad News for U.S. Traders The NFA has announced that two new rules have been approved by the CFTC and will take effect in the next two months. National Futures Association | News Center Rule Number One is the bad news as it bans the practice of “hedging.” Rule number two is the...