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Proposed NFA Capital Requirement

  • #1,301
  • Jul 1, 2009 8:38pm Jul 1, 2009 8:38pm
Well Done NFA & Forex Saviour...you guys getting your wish fulfilled..with this new rule of no stop loss and what not...

Soon you will have no broker and no clients left in your land to follow your rules...


Good Luck with your Talibanisation of forex..we are moving to a more free land.
  • #1,302
  • Jul 1, 2009 8:46pm Jul 1, 2009 8:46pm
I witnessed the EUR/USD fall 4000 pips [Digits==4] in September 2007. With my SELL STOP hedge in place I had no problem. Most traders at that time lost a lot of money.

Brokers want MT5 and stop losses because NFA requries brokers to countertrade and MAKE MONEY taking the other side of your trade. They are hedging YOU the trader. If they know your stop they can make your terminal race towards the stop a little early and net themselves a tidy sum.

Quoting forexsavior
Finally, how on earth did IBFX allow itself to be put in such a vulnerable position where their entire company is at the mercy of an independent third party based in Russia?
Russia is about the only good thing IBFX and Metaquotes have going for them.
  • #1,303
  • Jul 1, 2009 11:45pm Jul 1, 2009 11:45pm
Quoting rossiya
I witnessed the EUR/USD fall 4000 pips [Digits==4] in September 2007. With my SELL STOP hedge in place I had no problem. Most traders at that time lost a lot of money.
4000 pips in one day?

Quoting rossiya
Brokers want MT5 and stop losses because NFA requries brokers to countertrade and MAKE MONEY taking the other side of your trade. They are hedging YOU the trader. If they know your stop they can make your terminal race towards the stop a little early and net themselves a tidy sum.

Russia is about the only good thing IBFX and Metaquotes have going for them.
Probably if IBFX is able to get license and regulated in other countries, like UK or Australia, then probably non-US clients can move their accounts from US to other countries. But the problem is, how to do it in one month?

cheers
  • #1,304
  • Jul 2, 2009 1:47am Jul 2, 2009 1:47am
Quoting spiderforex
Well Done NFA & Forex Saviour...you guys getting your wish fulfilled..with this new rule of no stop loss and what not...

Soon you will have no broker and no clients left in your land to follow your rules...


Good Luck with your Talibanisation of forex..we are moving to a more free land.
Well, I can't speak for Forex Saviour and his issues (he seems to have had them for a while), but I see no reason to send money overseas.
  • #1,305
  • Jul 2, 2009 1:58am Jul 2, 2009 1:58am
Next the clowns in the US Government will legislate that cars are not allowed to have brakes.
  • #1,306
  • Jul 13, 2009 12:00pm Jul 13, 2009 12:00pm
The CFTC has just released their latest net capital figures. This is the current state of the U.S. retail fx industry:

http://www.cftc.gov/marketreports/financialdataforfcms/index.htm

Advanced Markets $20,722,000
Easy Forex $20,928,000
Ikkon Royal $21,247,000
MB Trading $21,360,000
Alpari $22,312,000
Forex Club $25,427,000
CMS Forex $29,788,000
Interbank FX $35,611,000
PFG $36,465,000
FX Solutions $48,262,000
FXCM $63,999,000
GFT Forex $79,368,000
Gain Capital $98,125,000
Oanda $159,062,000
  • #1,307
  • Jul 13, 2009 1:13pm Jul 13, 2009 1:13pm
Thank you for an update!
Just 14 left.
  • #1,308
  • Jul 13, 2009 3:11pm Jul 13, 2009 3:11pm
Quoting forexsavior
The CFTC has just released their latest net capital figures. This is the current state of the U.S. retail fx industry:

http://www.cftc.gov/marketreports/financialdataforfcms/index.htm

Advanced Markets $20,722,000
Easy Forex $20,928,000
[size=3][font=Times New Roman]Ikkon...
Why do the brokers that only need to show 20 million show more? I think its bad management. That extra money should be used to solidify the company in a very competative market. The money could go into development, advertising, or expansion. I would kill my self if I worked for one of these brokers
  • #1,309
  • Jul 13, 2009 10:36pm Jul 13, 2009 10:36pm
i think its funny how the forex savior has gone pretty quiet since FXCM and Gain have gone Anti NFA...

... how do you feel about all these us fcms challenging the NFA's juristiction?????
  • #1,310
  • Jul 14, 2009 1:51am Jul 14, 2009 1:51am
What about when you trade with an introducing broker which is linked to Gain ?
  • #1,311
  • Jul 14, 2009 5:29am Jul 14, 2009 5:29am
Quoting Voldemort
..................since FXCM and Gain have gone Anti NFA...

... how do you feel about all these us fcms challenging the NFA's juristiction?????
Any proof of all this just for our own info?
  • #1,312
  • Jul 15, 2009 4:04am Jul 15, 2009 4:04am
Quoting mike999
Why do the brokers that only need to show 20 million show more? I think its bad management. That extra money should be used to solidify the company in a very competative market. The money could go into development, advertising, or expansion. I would kill my self if I worked for one of these brokers
The NFA keeps lobbying to raise the bar even more. It will be $30M soon. They have to keep up somehow.
  • #1,313
  • Sep 11, 2009 8:55am Sep 11, 2009 8:55am
NFA has released financial data for July 2009.
  • #1,314
  • Sep 11, 2009 12:55pm Sep 11, 2009 12:55pm
Quoting oakmonster
The NFA keeps lobbying to raise the bar even more. It will be $30M soon. They have to keep up somehow.
Yeah, I can see it now...
Quoting nfa/cftc
Hey, I gots an ideas! Let's see how much more busine$$ we can force offshore!
#*!@^%& idiot bureaucrats. Ohps, I forgot. It's for our own good, idnit?

Quoting Voldemort
i think its funny how the forex savior has gone pretty quiet since FXCM and Gain have gone Anti NFA...

... how do you feel about all these us fcms challenging the NFA's juristiction?????
Hey, Volde. What's up, man? Not sure where you're getting this info because FXCM (US) is definitely complying with FIFO and anti-nedge rules now. Not sure about Gain.
  • #1,315
  • Sep 20, 2009 8:58pm Sep 20, 2009 8:58pm
Yes, but they're moving most of their accounts offshore to their UK branch...so it doesn't matter....



Quoting opie999
Yeah, I can see it now...

#*!@^%& idiot bureaucrats. Ohps, I forgot. It's for our own good, idnit?

Hey, Volde. What's up, man? Not sure where you're getting this info because FXCM (US) is definitely complying with FIFO and anti-nedge rules now. Not sure about Gain.
In Charts We Trust!
  • #1,316
  • Edited 8:07pm Dec 14, 2009 7:56pm | Edited 8:07pm
A few months (may be a year ago), the thread opener, forexsavior adviced us to stay away from Swiss-brokers, and now new wave (probably) of regulated Swiss-brokers are starting to emerge from there. From the last advice, you informed us that there is one government body that does regulate forex trading in Switzerland, known as The Swiss Federal Banking Commission (SFBC), but in recent example, MIG obtained from Federal Financial Market Supervisory Authority (FINMA).

So, once again, how do you see this new shift of Swiss forex retail brokers, and are we safe to do business with them?

Please advice and have a nice day.
  • #1,317
  • Dec 15, 2009 11:46am Dec 15, 2009 11:46am
The Swiss Federal Banking Commission (SFBC) is a branch of the FINMA. January 2009 Switzerland had + - 30 forex brokers, due to the requirements imposed by FINMA, there are now only 3 remaining, of which one received their banking license this week (MIG) with FINMA saying the remaining two will receive them in early 2010. Balancing all the pros and cons (security of funds, reputation, trading conditions) trading with a Swiss broker is undoubtedly a far superior option than anything that is US based, I would say that it is reaching being on par with UK FSA regulated brokers. You should also recognise that the remaining three brokers MIG, Dukascopy and AC-Markets are brokers that have been around since the early 2000, so they also show stability.
  • #1,318
  • Jan 14, 2010 4:51am Jan 14, 2010 4:51am
http://www.cftc.gov/ucm/groups/publi...cmdata1109.pdf

This is the newest report , there is some changes if u notice now it is not 20 m , it depends , for example the minimum net capital req for oanda is 28 , for mb 20m , FXCM 25 m ...

Also maybe there will be changes on this , maybe it will be 20M plus 5% of liabilites to FX clients ( also some changes in leverage to be limited to 10:1 only but this is not our topic here )

http://www.cftc.gov/newsroom/general...pr5772-10.html
  • #1,319
  • Jan 14, 2010 5:49pm Jan 14, 2010 5:49pm
I remember reading somewhere that MB Trading's net capital was around $5 million. What would that mean for MBT?
  • #1,320
  • Jun 16, 2010 11:25am Jun 16, 2010 11:25am
Quoting edrake
The Swiss Federal Banking Commission (SFBC) is a branch of the FINMA. January 2009 Switzerland had + - 30 forex brokers, due to the requirements imposed by FINMA, there are now only 3 remaining, of which one received their banking license this week (MIG) with FINMA saying the remaining two will receive them in early 2010. Balancing all the pros and cons (security of funds, reputation, trading conditions) trading with a Swiss broker is undoubtedly a far superior option than anything that is US based, I would say that it is reaching being on par with...
And now we have two forex firms who successfully obtain banking license from FINMA.

1. MIG
2. Dukascopy

cheers
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