How about that institutions with so much money, like FXLQ, REFCO, and Bear Sterns are not always the safest bet. So to say that capital is where it lies, than who ever you are...you dont know what you are talking about
######################## ? Titan's as JPM,GS,MER,MS ,UBS ,DB would by life ... Rule's 1. divide accounts 3* 2000$ better as 1 with 6000$ 2 .All only by public noted brokers /pure agent's with SIPC accounts AMTD,OXPS,SWIM They have alsov chance to be crached (Etrade loose 84% in 2007) but SEC is more credible and public noted company are most controlled
Paliz there has never been a recorded case of a well capitalized, registered forex dealer broker going out of business. Bear Stearns did not offer retail fx trading. Refco was unregulated. And FXLQ was never well capitalized, they were merely lying about how much money they had. FXLQ only proves that the CFTC capital reports should be taken with a grain of salt. But the evidence is still overwhemling. In retail forex, stick with well capitalized firms.
Paliz there has never been a recorded case of a well capitalized, registered forex dealer broker going out of business. Bear Stearns did not offer retail fx trading ############################### From game theory point of view ,after ... has never been a recorded case ... chance that he would is better . forex is worster as forex future with segregated account's and SEC SIPC account .
Is FXDD Breaking the Law? I have been hearing a lot about FXDD and people have been asking me about their regulatory status. So what's the scoop? FX Direct Dealer is a New York City based broker located in Manhattan . FXDD used to be affiliated with Tradition Securities. However, today Tradition only owns a small percentage of the firm. Thus FXDD is in no position to claim Tradition as a parent company for regulatory purposes. So arenât they then required to register according to the law? Not according to FXDD. Here is a response I got from a customer service rep over at FXDD when I asked them this question on their chat: Uh, someone should let FXDD Know that OTC spot forex IS regulated in the United States and they ARE subject to regulation by the CFTC. I have put the question to FXDD by email but have yet to get a response. Customers need to be aware that this firm is swimming in some very murky regulatory waters. The CFTC could crash through FXDDâs door at any moment and demand the firm shut down their business because they are not regulated. Every retail forex dealer in the United States has accepted the CFTC as their regulator but FXDD is claiming they have no jurisdiction? This firm in my opinion is a very risky place to put your money. Buyer Beware.
I spoke with the CFTC about this very issue in the past. Believe it or not, FXDD's response is correct FXSavior. Technically speaking, the spot forex market is an unregulated market, and membership with the NFA is voluntary. Now the idea was that if 24 out of 25 forex dealers in the US become NFA members, nobody would even think about openig an account with the one (FXDD) that is not. Obviously though that is not the case. The real kicker is this... when the NFA eventually decides that IBs of CFTC registered FCMs need to be registered as well, where do you think all of the as of now unregulated IBs are going to go...hmm, maybe FXDD because the new IB regulations wont apply to them because they themselves aren't regulated...wow, kinda scary huh?
Thanks to all for all the information! Background: I have had an account with Oanda for 2 years, but recently decided to stop trading there primarily because I feel they have "stacked the deck in their favour" by not offering trailing stops, moving the spreads as they feel like it, by offering bids/asks off the market price, etc. As someone put it....Oanda appears to be a "high end bucketshop" Anyhow... I have checked a number of websites and have read review after review after personal experience after personal experience after rating after rating..........and out of all those reads..... The best (most positive) Forex Broker seems to be for EFX / MB Trading because of its non-dealing desk/ non-market maker status...at least of those Brokers regulated by NFA and CFTC ( a pre-requisite for my next account). Yet now I read about MB only have $7 million in Net Capital. Yet they are upgrading software, spoken highly of, etc. Questions: Anyone have any insight into how they plan to raise capital to meet the $20 million threshold? Can they raise it? Will they raise it?
The best (most positive) Forex Broker seems to be for EFX / MB Trading because of its non-dealing desk/ non-market maker status...at least of those Brokers regulated by NFA and CFTC ( a pre-requisite for my next account). ********************************* See client agreement of MBT "... involved in proprietary trading activities" Only hotspotfx is pure agent of principal and have offer ECN (with fractional liquidity) but 1. demanded 7500 $ account minimum 2. Equal problem through modern CFTC issue ,have only 7-8 mln $ of capital
Are there any other big companies ie. over 5 million in trade size that are unregulated? Is FXCM regulated?
trader1101 Registered: Mar 2008 Posts: 6 03-24-08 07:00 PM Are there any other big companies ie. over 5 million in trade size that are unregulated? Is FXCM regulated? All USA based fx broker ,responsible to CFTC . Swiss based fx(Ducascopy as example) are not regulated .Knew that precise from disscussion with Swiss authority Best wish ...