All I can say is, donât bet your house on that statement, Time will tell!! Thatâs the beauty of forums you can always go back and sayâ I told you soâ
Good indication changes are in the air, more and more retail FX firms who know they will not qualify under the new bill are taking cover to avoid the downfall of the retail brokers, Fx Solution Sold to UK spread betting firm,, http://www.forexfactory.com/showthread.php?t=69003 The big question here is, is this UK based spread betting firm solid enough to qualify as a US based on-exchange entity, only time will tell, if not thay could kiss their US client base Goodbye
That UK spreadbetting firm owns IFX Markets Inc. as well. City Index is part of the IPGL group out of the UK (ICAP, EBS etc.) I think they will be alright
What BigGun has neglected to mention to us all is... 1. Apparently ( http://www.elitetrader.com/vb/showthread.php?s=&threadid=111265 ) he happens to be associated with a broker that just happens to have significant involvement in other exchange traded instruments. So he may be biased 2. The excerpt he has listed when this thread was started is NOT in the bill. So while it may be in the proposal it does not appear in the bill... but i think he probably knew that. I found this out after some time looking ver his links (none of which link to the bill) and wondering why he would start this thread alongside forexsavior 's post on the same subject. rather than participate there. time wasted replying here 3 times now
You naysayerâs present no facts to back up your arguments, all you say is âitâs never going to happenâ or the âsources providing this info is all falseâ but yet never providing apposing sources to back your reasoning. people donât listen to these nay Sayers, read and know the facts. . Trust assured this laws coming into effect even Drew Niv's, CEO at FXCM and FXStreet is confirming forward with this now⦠read the facts, http://weblog.fxstreet.com/2008/02/drew-niv-view-o.html
great link.. reads well. does not, however, provide any support for your original assertion 'http://www.elitetrader.com/vb/showthread.php?threadid=114662&goto=newpost' stating the big FCMs were out. Guess that was just an attempt to bring some foot traffic your way. If retail traders get nervous, even if they are with the big guys (which is looks like the big guys stand to enjoy large gains in market share here rather than being shut down), this could directly benefit your company. Right? Do us all a favor, and have a disclosure at the bottom of your future threads stating something the effect of. 'statements herein cannot be credited for validity or truth. Meant for advertisement purposes only.
First of I never stated âbig FCMs were outâ read donât assume!! I stated the way the new bill reads theirs a very good chance they will be seriously effected, to the point of having to merge with qualified on-exchange equity, futures broker dealers or banks or move offshore or close. Evidence, FXsol recent sellout, more futures firms and banks ( who by the way quilfy under this new bill ) now entering and so on, if you donât see change thatâs your problem but donât come here and try to discredit those of us that do.. The only thing im advertising for, is to tame this wild, Wild West /Forex!! We need reform, better regulations and stronger firms in place . If you have a problem with me making this thread and pointing readers to facts with verifiable sources donât read them! Theirs plenty of people who would like to know the facts.
"From what I understand here this bill destroys most Retail FX players at least as I know them, Looks like the banks and future firms are only ones qualified even the big FX firms like FXCM, Gain and Oranda will meet these qualifications, none are licensed or dealings in on-exchange business to my knowledge!!!! " ...so you did not mean they were out? guess i misread that one. Aside from your agenda, address the point that these excerpts did not end up in the bill, they were in the proposal. you link speeches, articles and the proposal. I am glad to hear the cap requirements are going up, this is a positive move. As for whether or not your company will be the only type of broker available once the rules are imposed, you have failed to convince. This thread is a waste of time
Read my first sentence!!! From what I understand hereâ maybe Iâm misunderstanding the whole thing; but then again maybe Iâm right on!! Time will tell whoâs right and whoâs wrong Readers do your own research; Google key words CFTC REFORM FOREX CFTC Reauthorization Act of 2007 NFA CFTC Reauthorization Act of 2007 Itâs all out there.