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Forexia replied Feb 7, 2017IB was one too although they also had to put in the mandatory disclosure stating that they are a counter-party to all your trades as well and so was HotSpot FX before they went institutional. And I dunno about MB. I believe they were operating as a ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 7, 2017
Yeah but that's NOT the point. CFTC didn't get FXCM because it was trading against its client; it banned FXCM because it failed to disclose which was bs. I just uploaded that document to show you that they DID disclose clearly that they are market ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 7, 2017
This is just saying FXCM is a B-booker just like 99% of the so-called ECN/STP brokers under ASIC. ASIC's required standard disclosure document even states that they are B-bookers. Moral of the story: NEVER ever take what you read on the brokers' ...
FXCM Discussion
- Forexia commented Feb 7, 2017
They don't need to. Money is what ultimately matters. If people see that they are continuing to make profit while with FXCM and people do, they will stay. FXCM has always been consistently in third place in terms of trader profitability for 2015 and ...
FXCM house of cards: 150 employees laid off
- Forexia replied Feb 7, 2017
You keep up the good work, Jason. Since FXCM is still around, will be looking forward to hearing from you from time to time. Saw that FXCM is expanding to South Africa. All the best and good luck!
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 7, 2017
And Oanda is next. Just wait until you see CFTC, NFA, SEC, one of those bureaucrats find a tiny thing, like a comma that's out of place and boom, huge fines, fail to disclose, huge list of charges and Oanda is gone! And then there is one, Gain ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 7, 2017
Well FXCM did disclose that they are a market maker, a counter-party to all your trades. See Line Item 12 in the attached Disclosure document below. And this is found on FXCM's website. url
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 7, 2017
Well it's obvious, do you see how expensive it is to trade the rest of the financial instruments like options and futures? Half of it is fees to the bureaucrats in the form of FINRA fees, exchange fees, Regulatory fees, transaction fees etc. Take a ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia commented Feb 7, 2017
Doesn't matter. FXCM posted on their website all the required legal disclosures: url including the disclosure that they are a market maker, a counterparty to all trades, see Line Item 12 in the attached document below. Whether they are a market ...
FXCM banned by CFTC after taking positions against clients
- Forexia commented Feb 7, 2017
Still there. He posted FXCM's press statement just yesterday and today again.
FXCM banned by CFTC after taking positions against clients
- Forexia commented Feb 7, 2017
No in the context of 150 people that lost their jobs on trumped up charges because CFTC wants to get rid of retail FX. They disclosed clearly that they are market makers being a counterparty to all trades, see Item 12 in the attached document below. ...
FXCM house of cards: 150 employees laid off
- Forexia replied Feb 6, 2017
Regardless of what, investors do NOT need some regulators to tell us how and what to invest and how much. Their job is to regulate the financial market, to make sure scam brokers are stopped and barred in time from harming investors. Their job is to ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 6, 2017
Or don't use leverage. Their min. trade size is like $25K USD on IDEALPRO. If you are able to come up with that all in cash, you can still trade with them. See that's the irony of it. If you have $10 million sitting around in your coffer, WHY would ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 6, 2017
Which is a real shame for us little guys. Finally there is a good broker for us and they had to take it away from us. That was SEC's doing btw.
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia replied Feb 6, 2017
This is their disclosure page on their website: url On it, there is a Risk Disclosure PDF document which I attached below. Section 12 titled "Off-Exchange transactions" states the following: Off-exchange transactions In some jurisdictions, and ...
FXCM and CEO Drew Niv banned from US market by CFTC
- Forexia commented Feb 6, 2017
url This is the Disclosure page on FXCM website. When you are a FCM registered with CFTC/NFA, there is NO WAY they can get away with not disclosing the fact that they are market makers. Otherwise they would be shut down long time ago. I uploaded ...
FXCM sells its US clients to Gain Capital as it exits US Forex market
- Forexia commented Feb 6, 2017
LOL What a joke!! Just for that, Gain Capital should be the first to go along with like 99% of the retail fx brokers in USA.
FXCM banned by CFTC after taking positions against clients
- Forexia commented Feb 6, 2017
Or they can't pay anymore cuz apparently they owe $192 million on the loan to Leucadia National Corp., the company that bailed them out after the Jan. 15 Swiss franc fallout. So CFTC killed it and tossed its carcass to Gain Capital to devour.
FXCM banned by CFTC after taking positions against clients
- Forexia commented Feb 6, 2017
Exactly! You said it yourself. If the broker takes the other side, if your trades landed in profit, then they will have to pay out the profit. And WHY would they let you do that? It's like you bet against the casino and every time when you win, the ...
FXCM banned by CFTC after taking positions against clients