Unregistered FX IB’s out and 20million cap FX FCM in

Discussion in 'Forex Brokers' started by BigGun, Jan 17, 2008.

  1. Aboushi

    Aboushi

    No. No other regions are that dumb to do so.

    Others would regulate with sense and not to monopolize.

    Why would a country shut down a business that brings in money from foreign clients and creates jobs?

    Who is dumb enough to shut down companies due to lack of excess capital and not due to violations?

    Who would put out 12 FX brokers out of business, and lay off 1000's of people??

    Who would leave 4 brokers for us to choose from that we can't stand and had many complaints?

    Who would force their own people to invest out side to have more than 4 choices?

    What kind of MORON would think that this is good for the USA?

    It truly blows my mind
     
    #31     Apr 18, 2008
  2. It is simple. The bill introduces new category for Forex Brokers i.e. Retail Forex Dealers to enforce transparency and protect clients from boiler-rooms and aggressive selling. They will have to maintain at least 20 Mio USD to stay in business. So there in no threat to the industry or any of the big forex brokers.

    http://www.govtrack.us/congress/billtext.xpd?bill=h110-4626
     
    #32     May 10, 2008
  3. BigGun

    BigGun

  4. BigGun

    BigGun

    FXCM reacting, sending Cease and Desist Notice to all unregistered IB,, what a shame it was the IB who made firms like FXCM and now they kick them all to the curb.


    May 15, 2008

    To Whom It May Concern:

    As per the termination letter sent to you, terminating the Referring Agreement between FXCM and xxxxxxxx, you were directed to remove all references of the FXCM name and soliciting accounts using FXCM's name. Please remove all links to FXCM.com.

    Once again, please remove all references to FXCM and cease and desist using the likeness and name of FXCM.

    Thank you for your immediate cooperation.

    Kindest Regards,

    Compliance Department
    Forex Capital Markets LLC
    Financial Square
    32 Old Slip, 10th Floor
    New York, NY 10005
    United States
    Tel (212) 897-7660
    Fax (212) 897-7669
    Email : compliance@fxcm.com

    FXCM and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. All e-mail sent to or from this address will be received by the FXCM corporate e-mail system and is subject to archival and review by someone other than the recipient.
     
    #34     May 15, 2008
  5. If you are an unregistered IB , just register to continue business, what is the problem with that ?
     
    #35     May 15, 2008
  6. BigGun

    BigGun

    http://www.marketwatch.com/news/sto...04F-B4A6-BFB7EDEF4CCB}&dist=hplatest#comments



    WASHINGTON (MarketWatch) -- On the heels of a strong vote for passage in the House, senators on Thursday approved a $289 billion, five-year farm bill that is under a presidential veto threat. Senators voted 81-to-15, easily attaining the two-thirds majority needed to override a veto. On Wednesday, House lawmakers voted 318-to-106 to pass the bill, also securing the two-thirds majority needed for an override. The farm bill would increase funds for nutrition programs and authorize subsidies for farmers, among other moves.
     
    #36     May 15, 2008
  7. Aboushi

    Aboushi

    Or


    you could refer American clients to European brokers, and have our people invest in other countries.

    Stupid is an understatement!!
     
    #37     May 16, 2008
  8. BigGun

    BigGun

    Sounds to me your on the side of the or worse yet “for you” working with unqualified FX firm and have just lost your scamming vehicle.

    Wrong, smart EUR countries will be right behind with stronger FX dealers regulations , Swiss land has already implemented new laws requiring all FX dealers ton be registered as banks witch by the way is much more difficult to obtain then becoming a FCM under the new guidelines here in the USA. And those that chose to hide off shore will soon learn their no longer out of reach either.

    What just happened is great for the traders; FCM will become more transparent, safer and more accountable for any games they chose to play..


    Don’t believe the propaganda the unqualified FX firm and IB’s are pushing now a days, it’s all rubbish.
     
    #38     May 16, 2008
  9. BigGun

    BigGun

  10. Aboushi

    Aboushi

    Do you believe that a monopoly will be good for traders? That to go from having over a dozen choices to 4 or 5 would benefit us? Do you think that if the bigger firms did not have to compete for the client, then the client would benefit? You believe closing down US firms and putting people out of work is good for our economy? Is there reason to raise it to 20 million? Or is it to eliminate most of the firms? If they did care about the clients’ funds, why don’t they set up a formula that firms will have to follow?

    One that depends on the number of clients and the amount of funds these clients have deposited. That wouldn't happen, because the safety of the trader is not what they are after.

    If the firm that I deal with shuts down, then I am taking my money out and investing it over seas, because I don't trust any of the remaining firms.

    The true SCAMMERS are the ones that pay money managers extra if they would lose the clients funds. Look it up, and find out that it is a firm that has over 60 million in adjusted net capital and will remain open.

    So BIGGUN, did you know that?

    I doubt it.
     
    #40     May 19, 2008