THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. [MEMBER] IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. THE PRICES [MEMBER] OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE.
ALTHOUGH [MEMBER] IS THE COUNTERPARTY TO EACH OF YOUR TRADES, [MEMBER] LIMITS RISK TO ITSELF BY INSTANTANEOUSLY OFFSETTING THE TRADES AND POSITIONS IT ENTERS INTO WITH YOU WITH A BANK OR INSTITUTIONAL MARKET MAKER. AS A RESULT, [MEMBER] DOES NOT PROFIT WHEN YOU LOSE MONEY ON A TRADE. RATHER, [MEMBER] EARNS COMMISSIONS ON EACH TRADE IT ENTERS INTO WITH YOU. THE AMOUNT OF COMMISSIONS CHARGED IS DISCLOSED ON PAGE [x] OF THE CUSTOMER AGREEMENT.
http://www.nfa.futures.org/news/news...ArticleID=2104
FDMB---
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. [MEMBER] IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, [MEMBER]'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS [MEMBER] ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES [MEMBER] OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE AND [MEMBER] MAY OFFER DIFFERENT PRICES TO DIFFERENT CUSTOMERS.
IF [MEMBER] ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT [MEMBER] MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE [MEMBER] ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM [MEMBER] OR ANY OF ITS SOLICITORS.
i tried to contact NFA to know who FDMAs r but what i got from NFA is"The names of Forex Dealer Members who are using the alternative language is not public information. Therefore, I cannot provide you with a list." so my final goal of this thread is to find FDMAs, then we traders can have a better option to choose. From the thread "It's official, brokers trade against you "
http://www.forexfactory.com/showthre...t=89344&page=3
i know the following list as far as now. If any existing customer still havent received ur disclosure from ur dealer,plz follow the link to complain to NFA b/c they dont comply with NFA's regulaton timely and they try to hide sth. and they possibly get a fine from NFA but this is not our focus,we just want to know earily who they r,FDMAs or FDMBs then we can have a better choice to trade with.
http://www.nfa.futures.org/basicnet/Complaint.aspx
The current reslut:
FDMAs: hotspot (existing customers must receive Customer Disclosure from ur dealer directly to confirm this,also it is easy for potential customers to check,just try to apply a new account before the final step until u see this acknowledement page in ur application ).
FDMBs: CMS "Gains Capital" IBFX IFX FXCM OANDA
FDMAs,we r waiting for u to come early!