Top Forex Dealers by Volume Michael Greenberg at Forex Magnates has released an interesting new survey on forex broker trading volumes (in the billions). http://forexmagnates.com/top-forex-brokers-report-over-105b-in-daily-traded-volume/ Monthly Trading Volume 1. FXCM $560,000,000,000 2. Oanda $338,000,000,000 3. Saxo Bank $225,000,000,000 4. Gain $200,000,000,000 5. GFT $175,000,000,000 6. ACM $150,000,000,000 7. PFG $85,000,000,000 8. IBFX $80,000,000,000 9. Alpari $60,000,000,000 10. IG Index $60,000,000,000 This is a useful tool for determining a brokerâs size and stability (in addition to the net capital numbers.) The following firms have net capital below $20 million Easy Forex $15,552,000 Ikkon Royal $16,423,000 Alpari $16,557,000 MB Trading $17,031,000 Advanced Markets $19,686,000 The following firms have net capital above $20 million Forex Club $21,354,000 CMS Forex $29,360,000 PFG $30,444,000 Interbank FX $38,393,000 FX Solutions $45,032,000 GFT Forex $87,169,000 Gain Capital $95,879,000 FXCM $113,463,000 Oanda $161,723,000
Hm, more than i thought. Wonder if every firm did report corrct figures. FXCM is not that far behind the CME fx-contracts in terms of monthly turn-over (if my quick and dirty calculation is correct - based on APR09 figures). Intuitively i would have thought the CME is miles ahead from the biggest spot retailers.
Hi Savior Thanks for the great work from you! Do you know whether they include the figures of any or some of their white label businesses? Do you, or anyone else other me, find the ratio of Volume:Net-Capital for individual firms based on the above figures would be interested? 1 => FXCM => 113 => 560000 => 4956 2 => PFG => 30 => 85000 => 2833 3 => IBFX => 38 => 80000 => 2105 4 => Oanda => 162 => 338000 => 2086 5 => Gain => 96 => 200000 => 2083 6 => GFT => 87 => 175000 => 2011 Perhaps that would indicate more of a certain type of traders trading with an individual firm!? Is there any Norm in this industry for retail traders, or 2000 should be a norm?
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: http://www.cftc.gov/marketreports/financialdataforfcms/index.htm The following firms have net capital below $20 million Easy Forex $15,549,000 Ikkon Royal $16,355,000 MB Trading $17,100,000 Advanced Markets $19,796,000 The following firms have net capital above $20 million Alpari $20,975,000 Forex Club $21,795,000 CMS Forex $29,649,000 Interbank FX $36,507,000 PFG $36,843,000 FX Solutions $41,546,000 FXCM $60,472,000 GFT Forex $80,693,000 Gain Capital $90,801,000 Oanda $159,739,000
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: http://www.fxstreet.com/forum/showthread.php?t=1005&page=21 The feds are now confirming that Peter Son was running an $80 million ponzi scheme: http://www.sec.gov/litigation/complaints/2009/comp21076.pdf Among the SECâs findings: After covering these poorly capitalized firms for years Iâm not the least bit surprised that SNC illegally used customer funds to meet their capital requirements back when they were still registered with the NFA. Thatâs why cap requirements had to be raised and thankfully the worst of these brokers are long gone in the U.S. But let this be a lesson to the trading public to avoid opening an account with any poorly capitalized firm, or a firm that is not regulated and does not disclose their financials.
What kind of buying leverage do you get with IB? At least 100x? Also, what is the mnimum for an FX account there? Thx
FXCM decreased net capital by $50MM from May thru June That can't be good? What would be the legitimate reason for such a large decline?
That sounds very suspicious....... Dividends? They don't have public shareholders! Tax Liability of tens of millions?????