Tadawul FX (TDFX) Discussion | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Tadawul Closing All USA Accounts 10 replies

TDFX - Conditions for Islamic Trading 6 replies

Euro/Dollar discussion 9 replies

Anyone use tdfx broker? 0 replies

TDFX Data Feed 4 replies

Attachments: Tadawul FX (TDFX) Discussion
Exit Attachments

Tadawul FX (TDFX) Discussion

  • #341
  • Jul 9, 2011 7:12pm Jul 9, 2011 7:12pm
Quoting PIP-Squeak
These regulations are done behind closed doors with No public debate, No publication, No vote, and an even more corrupt process for changing them.


I predict there will be a revolt - Right after its to late!

No, not closed doors... right out in the open as the CFTC had a comment period in which they received over 9000 comments from the general population, not to mention broker dealers themselves. ( The most recieved comments ever on any rule implementation... comment periods are basically worthless and a waste of tax payer money IMHO after that demonstration.)

Overwhelmingly the comments were OPPOSED to what the CFTC was implementing. But when you take the stance of "Do as I say, not as I do" no one listens, they already are smarter than any of us.

There has been a revolt and it's on-going, but it unwinds temporarily when foreign brokers back down from the threats of the CFTC until a new reputable foreign broker is found to reset the clock.

All we can hope for is that the US Government who is undeniably over-whelmed by a mountain of debt ($14 Tril+) will cut funding to the CFTC to save a few bucks. It takes money to fund them, and if you and I don't make any... they will cease to rake it in. (Vicious cycle LOL)
  • #342
  • Jul 9, 2011 7:29pm Jul 9, 2011 7:29pm
Quoting pip_seeker
Their ideas are mostly to get rid of fraud and reduce the amount of leverage because of the financial crisis. Reduce useable leverage on traders and you reduce the amount of leverage on the banks... and conquer fraud all in the same breath.
Fraud on who by who? Fraud on me by a foreign broker/bank? Fraud on the foreign broker/bank by me? They could care less if a foreign broker defrauds me or I defraud a foreign broker!

"reduce the amount of leverage on the banks" What banks? The foreign banks? Remember, my money was with a foreign broker/bank NOT a U.S. Bank! They could care less how a foreign bank is leveraged.

It's about the money, the money that the IRS believes they are "entitled" to that we are not reporting by having foreign sources of income, entities that will hold those funds that do not report to the IRS and the IRS can not levy, and a method to extract and spend those funds without reporting it as income.

They want the trading back in the states so they can tax it, PERIOD!

Grab your stash cause here they come.
  • #343
  • Jul 10, 2011 8:28am Jul 10, 2011 8:28am
Quoting PIP-Squeak
Fraud on who by who? Fraud on me by a foreign broker/bank? Fraud on the foreign broker/bank by me? They could care less if a foreign broker defrauds me or I defraud a foreign broker!

"reduce the amount of leverage on the banks" What banks? The foreign banks? Remember, my money was with a foreign broker/bank NOT a U.S. Bank! They could care less how a foreign bank is leveraged.

It's about the money, the money that the IRS believes they are "entitled" to that we are not reporting by having foreign sources of income, entities...
Nope, CFTC and IRS are two entirely different entities.


Fraud by making claims of vast wealth super easy and fast with no risk. EA's that perform well by backtest and sold without any forward testing. Fraud is fraud it doesn't matter how you achieve it. By lowering leverage they make it more difficult.

Madoff and Stanford were likely big contributors to this legislation and the thinking that "greed is good" only a thief thinks like that.

Reduce leverage on banks: US banks to avoid another potential meltdown. They only care about foreign banks when they look to US banks for liquidity and then you get the "MOU" (memorandum of understanding).

It's the carrot dangling and suffice it to say for the US to say: see we told you... now you do it our way.

It has nothing to do with the IRS if someone wants to open a bank account somewhere's else they can and they will face the scutiny of the IRS. If you are a tax cheat that is in a whole different category from just being able to trade the way you want to.
  • #344
  • Jul 10, 2011 12:04pm Jul 10, 2011 12:04pm
Quoting pip_seeker
Fraud by making claims of vast wealth super easy and fast with no risk. EA's that perform well by backtest and sold without any forward testing.
I'm sorry but this makes no sense to me on it's face. Maybe I'm missing the point. Are you saying that Chris and Barn are trying to save little-ole me from the fraud of a foreign broker? I fail to see how these regs. will keep anyone from buying a fraudulent bogus trading method or an EAs that won't work and implementing it with a US Broker. I don't think I've EVER seen a broker with out a disclaimer (foreign or domestic). Besides, telling me I'm going to die if I smoke in a disclaimer is a lot different than outlawing smoking in the US.

If they want to use my tax dollars to INFORM me of who is a fraud and who isn't I might be ok with that, but that's not what they are doing

Quoting pip_seeker
Reduce leverage on banks: US banks to avoid another potential meltdown. They only care about foreign banks when they look to US banks for liquidity and then you get the "MOU" (memorandum of understanding).
I absolutely agree. 50:1 leverage has no impact on the trader unless your trying to trade with a $100 in your account, DOUBLE YOUR LOT SIZE!
It was put in place to force the brokers to double the funds on deposit (Liquidity). The 2nd statement makes no sense to me. Are you telling me that EVERY foreign bank looks to a US bank for liquidity? Or the inverse of that, if I found a broker that used say, a Swiss bank that didn't look to a US bank for liquidity I could open an account there. I'm pretty sure that's not how the new regs read. "it's okay to have an account with a foreign broker if the broker is not backed by a US Bank or the Brokers Bank is not backed by a US bank" It that was true I could just find a broker that was backed by a sovereign bank.

Quoting pip_seeker
It has nothing to do with the IRS if someone wants to open a bank account somewhere's else they can and they will face the scutiny of the IRS.
Okay I concede to that. It really only matters to the IRS where your bank account is at, not where your broker who processes your transactions is at.
Unless my broker acts a bank allowing me to withdraw funds to a VISA card, then they are acting as my bank.

"CFTC and IRS are two entirely different entities" Tell Al Capone that. The ATF and the IRS are two entirely different entities. They are joined at the hip from birth!

At the end of the day it's NEVER about protecting me, whether its smoking regulations, seat belt regulations, or trading regulations, It's about the money. Protecting me is just the lubrication used to sell it.
  • #345
  • Jul 10, 2011 12:25pm Jul 10, 2011 12:25pm
Quoting PIP-Squeak
If your going to take up a cause, how about the fact that ANYONE other than our elected Representatives are writing any law! This one just happens to affect us as currency traders. There are thousands of laws and regulations created everyday by some un-elected bureaucratic moron that knows more about how you should run your life than you do.

How about we get OUR elected Representatives to vote on one law that states NO Federal law shall be imposed on the citizens that has not been voted on by Congress. It could read some thing like this:

"All...
Bottom line more people have to participate in the process that aren't currently. There is something everybody can do. If we had had more people participating during the drafting stage of this law we may have had a nice little exception carved out somewhere. However, this will not be the last time they propose regs of this matter... Might as well start becoming more informed and planning now.... I'd much rather go out swinging than complaining (not saying you). Without even having filed a motion in the proper court to challenge aspects of a bogus law and just conceding something that affects our choices and livelihood. Without even trying to marshall resources or trying to find an alllie on one of the key committees to inform about our position - is unacceptable imo.
Do your time and enjoy the ride...
  • #346
  • Jul 10, 2011 1:30pm Jul 10, 2011 1:30pm
Quoting PIP-Squeak
I'm sorry but this makes no sense to me on it's face. Maybe I'm missing the point. Are you saying that Chris and Barn are trying to save little-ole me from the fraud of a foreign broker? I fail to see how these regs. will keep anyone from buying a fraudulent bogus trading method or an EAs that won't work and implementing it with a US Broker. I don't think I've EVER seen a broker with out a disclaimer (foreign or domestic). Besides, telling me I'm going to die if I smoke in a disclaimer is a lot different than outlawing smoking in the US.
Well what I offer here is a possible explanation why they think the way they do. (Chris and Barney).

You have to realize where we have been in TBTF (too big to fail). First we have Enron, then Lehman, BearStearns, AIG and a slew of banks. Alot of this is due to the real estate meltdown, but the legislators are in no mood to take chances. (they don't know so it's more to be safe than sorry.)

The NFA was put in charge to "police" the forex market, until later via the farm bill handed a good amount of Power over to the CFTC. Originally there were alot of complaints to the NFA because there were a plethora of Forex broker cheaters in the states and elsewhere... so part of the rules were designed to shut these down and in the process they stuck leverage, hedging and FIFO rules in there as well.

The legislators that be are trying to avoid or prevent a melt-down and put an end to the fraudsters. Currently it is being done bass akwords as they are imposing the leverage rules on speculators and not on banks. Banks are effected but not in the same way speculators are.

You have to realize there are many ways to commit fraud. I haven't listed all possible ways... and their rule implementation will not prevent it entirely.


Quoting PIP-Squeak
If they want to use my tax dollars to INFORM me of who is a fraud and who isn't I might be ok with that, but that's not what they are doing
Not to inform you but try to prevent it, by requiring firms that market to USA residents that they have to be registered with the NFA to do business with US residents. It's like a "good boys club" if you ask me.


Quoting PIP-Squeak
I absolutely agree. 50:1 leverage has no impact on the trader unless your trying to trade with a $100 in your account, DOUBLE YOUR LOT SIZE!
It was put in place to force the brokers to double the funds on deposit (Liquidity).
Yes, exactly this is the part that makes it all about the money. It requires the speculator to put up more money. However, you don't have to put up more money... you can put in a smaller amount that will make you suffer a margin call much easier than under 400:1 leverage or whatever.

They are banking on the fact of what the USA already thinks about you... that you are a moron and you need protection. LOL

Quoting PIP-Squeak
The 2nd statement makes no sense to me. Are you telling me that EVERY foreign bank looks to a US bank for liquidity?
Nope absolutely not. But with the Greece default looming in the minds of many we could be half way to the next melt down. There is some $2 Trillion dollars worth of loans due to be rolled over around May 2012.

The banks know about these things well in advance they see the money flows first hand. Why do you think Lehman Bros failed?

I'll give you a hint: "LIQUIDITY"

No one would offer them a line... why would they? They are all sharks that prey on one another.... you can see this first hand on any FDIC Friday in which bank assets are taken over by another bank for pennies on the dollar.

So no, not every bank... just ones who have liquidity problems.

Quoting PIP-Squeak
Or the inverse of that, if I found a broker that used say, a Swiss bank that didn't look to a US bank for liquidity I could open an account there. I'm pretty sure that's not how the new regs read. "it's okay to have an account with a foreign broker if the broker is not backed by a US Bank or the Brokers Bank is not backed by a US bank" It that was true I could just find a broker that was backed by a sovereign bank.
Well we are talking about trading Forex not just opening a bank account. The forex rules are what they are and the forex brokers who have US residents as customers will "likely" only be affected if they run into liquidity problems and look for liquidity outside their borders. You know as well as I do the US has long reaching arms in terms of influence.

As far a soverign bank it will still depend on who the broker is. It's not just the bank in which you put the money that has the effect as the broker is the one squaring your positions and not the bank.


Quoting PIP-Squeak
Okay I concede to that. It really only matters to the IRS where your bank account is at, not where your broker who processes your transactions is at.
Unless my broker acts a bank allowing me to withdraw funds to a VISA card, then they are acting as my bank.

"CFTC and IRS are two entirely different entities" Tell Al Capone that. The ATF and the IRS are two entirely different entities. They are joined at the hip from birth!

At the end of the day it's NEVER about protecting me, whether its smoking regulations, seat...
Yep the lubrication used to sell it exactly.

If you don't pay your taxes the CFTC won't give a rat's hiney... I wouldn't count on the IRS not paying you a visit though. That is how they are different.
  • #347
  • Jul 25, 2011 4:15am Jul 25, 2011 4:15am
Dear TDFX, just wondering when is TDFX going to have iPhone interface.
I believe there are a lot of traders using iPhone
Including me. Or u can actually associate with Forex On the Go, so that
Your clients won't have to pay for the monthly fees when
Other brokers are offering this for free..
  • #348
  • Jul 27, 2011 9:26am Jul 27, 2011 9:26am
Quoting Lcp88
Dear TDFX, just wondering when is TDFX going to have iPhone interface.
I believe there are a lot of traders using iPhone
Including me. Or u can actually associate with Forex On the Go, so that
Your clients won't have to pay for the monthly fees when
Other brokers are offering this for free..
Hi Lcp,

We are very close to launching a FULL range of mobile trading applications. Some of the best in the industry! All will also be FREE of charge for all traders.

Stay tuned. and I will be updating this thread very soon.

Thanks.

Kate
  • #349
  • Jul 29, 2011 7:40am Jul 29, 2011 7:40am
Quoting TDFX
Hi Lcp,

We are very close to launching a FULL range of mobile trading applications. Some of the best in the industry! All will also be FREE of charge for all traders.

Stay tuned. and I will be updating this thread very soon.

Thanks.

Kate
Does this include USA residents? Did I miss an announcement somewhere?
  • #350
  • Jul 29, 2011 8:45am Jul 29, 2011 8:45am
Quoting pip_seeker
Does this include USA residents? Did I miss an announcement somewhere?
Hi Pip Seeker,

I'm afraid this will not apply to US resident clients. If you would like to discuss the details or get more information, please send an email to your dedicated Account Manager or to [email protected].

Many thanks!

Kate
  • #351
  • Edited 9:36am Aug 25, 2011 9:35am | Edited 9:36am
Hi All,

What is everyone trading these days and why? Anyone taking advantage of gold movements? Is gold the "King" of the future?

Would love to hear your thoughts!
  • #352
  • Aug 25, 2011 9:03pm Aug 25, 2011 9:03pm
Quoting TDFX
Hi All,

What is everyone trading these days and why? Anyone taking advantage of gold movements? Is gold the "King" of the future?

Would love to hear your thoughts!

Last I heard USA resident thoughts don't matter too much to you... what are your thoughts on that?
  • #353
  • Aug 26, 2011 4:11am Aug 26, 2011 4:11am
Hi All, I have a terrible experience with Tadawul and FxPro. These 2 brokers are the same, share the same server and have their location in Cyprus. I get about 1.500$ of profit with my trading system (NeuralSpray) and after 2 hours an enormous candle was formed on usdchf (over 100 pips), the stoploss of the usdchf order was bypassed and I lost exactly 1492 $. This candle returned at the current price leaving a big shadow.
This candle doesn't exist on forexpros chart and fibo group chart.

I left immediately this broker. The FXPro charts were the same of the Tadawul charts.

I don't suggest this broker.
  • #354
  • Sep 12, 2011 10:05am Sep 12, 2011 10:05am
Quoting MaryJ
Hi All, I have a terrible experience with Tadawul and FxPro. These 2 brokers are the same, share the same server and have their location in Cyprus. I get about 1.500$ of profit with my trading system (NeuralSpray) and after 2 hours an enormous candle was formed on usdchf (over 100 pips), the stoploss of the usdchf order was bypassed and I lost exactly 1492 $. This candle returned at the current price leaving a big shadow.
This candle doesn't exist on forexpros chart and fibo group chart.

I left immediately this broker. The FXPro charts were the...
Dear MaryJ,

I am sorry to hear about your experience.

If you would like me to look into it further, please email me at [font=Calibri][size=3][color=#0000ff][email protected][/color][/size][/font] with as much information as possible and I would be happy to investigate this.

Please note that Tadawul FX and FxPro are two companies that work completely independent of each other. For your information, all companies you mentioned: Tadawul FX, FXPro, Fibo Group and ForexPros are all located in Cyprus (European Union), so location is not the factor here. The fact that you experienced the same issue with 2 major companies, and not the 3rd (much smaller company) could indicate that perhaps the issue is with the EA?

I would not comment further about the other companies, but please note that Tadawul FX follows an STP (straight through processing) model of execution, which means that all the prices you see on charts are real market prices. Tadawul FX’s servers are also located in Germany and France.

All the best with your trading!

Kate
  • #355
  • Sep 12, 2011 10:17am Sep 12, 2011 10:17am
Hi All,

I'm very excited to announce that Tadawul FX has gone mobile!

You can now trade on your iPhone, iPad, iPod, Android, Windows Mobile and Smartphone anytime and anywhere. We also launched a Web Trader, which is a web-based platform, allowing you to trade wherever there is an internet connection, without the need to install the MT4 platform.

All the apps are user-friendly, feature-rich and are FREE for all new and existing Tadawul FX clients.

You can get started here: http://www.tadawulfx.com/public/platforms/mt4-mobile.html

Good luck and looking forward to your feedback!

Kate
  • #356
  • Sep 13, 2011 2:37am Sep 13, 2011 2:37am
Quoting TDFX
Hi All,

I'm very excited to announce that Tadawul FX has gone mobile!

You can now trade on your iPhone, iPad, iPod, Android, Windows Mobile and Smartphone anytime and anywhere. We also launched a Web Trader, which is a web-based platform, allowing you to trade wherever there is an internet connection, without the need to install the MT4 platform.

[font=Arial][size=3]All the apps are user-friendly, feature-rich and...
My congratulations Kate, this is great!

In this news I like two words FREE and Iphone!

Regards

Josef
  • #357
  • Sep 13, 2011 8:35am Sep 13, 2011 8:35am
Hello.
Does TDFX except US residents. If yes, what are the conditions for them.

Thanks upfront
Alex
  • #358
  • Sep 15, 2011 6:21am Sep 15, 2011 6:21am
Quoting josef
My congratulations Kate, this is great!

In this news I like two words FREE and Iphone!

Regards

Josef

Hi Josef,

I knew you would!
  • #359
  • Sep 15, 2011 6:22am Sep 15, 2011 6:22am
Quoting Montana
Hello.
Does TDFX except US residents. If yes, what are the conditions for them.

Thanks upfront
Alex
Hi Montana,

I'm afraid Tadawul FX no longer accepts US residents.

All the best with your search!

Regards,
  • #360
  • Sep 15, 2011 8:46am Sep 15, 2011 8:46am
Quoting TDFX
Hi Montana,

I'm afraid Tadawul FX no longer accepts US residents.

All the best with your search!

Regards,

yeah too bad... because the USA is the market. We dictate the rules to the world and the world listens.
0 traders viewing now