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I have received some interesting feedback regarding the regulatory status of FXDD. As you know FXDD is listed in the Dead Forex Firms Walking list with a net capital of $786,000. Where did that figure come from? Well, it came from the futures affiliate (Tradition Securities and Futures Inc)...

Developing... The National Futures Association has closed another Dead Forex Firm Walking. Only a few days ago you'll remember I spoke of going short Nations LLC at Intrade. I only wish there were such a contract because the firm has officially gone belly up. The NFA on its website today...

After reading through the first Forward Forex complaint it appears there is much I left out. The material is just too good to pass up so for those who want a second helping of forward forex follies, keep reading. It appears that Forward Forex's lightening quick CEO, Onelio Murias, is so...

Queue up the Queen music. The NFA has slapped another padlock on the front door of another teetering, undercapitalized forex firm. And the winner is... Cal Financial Corporation. http://www.nfa.futures.org/basicnet/Case.aspx?entityid=0342690&case=07BCC00004&contrib=NFA Who? Well, to be...

Having put myself in a good mood chuckling over the antics of Forward Forex I have decided to exhume some other FX broker dealer corpses, all for the benefit of the general trading public of course. The point? To emphasize why regulators are so concerned about firms that are undercapitalized...

Another day, another small forex broker dealer shuttered. But before we start throwing dirt on the coffin of forward forex let's take a peak inside and perform an autopsy on the cadaver. For some its old news but for those concerned about the fragile state of the forex industry I think a...

As I continue to update the dead forex firms walking list I'm amazed how many people think fraud and undercapitalization are completely separate issues. Often times they are not. The reason is quite simple: firms that are committing fraud are not known for having legible books. And Vice...

Well, it looks like the forex dead pool is about to claim its first two victims. Read it and weep. The NFA has issued serious complaints against two small, undercapitalized firms. The first is Advanced Markets (Amifx). The NFA says in its complaint, “On June 28, 2007, NFA issued a...

Another important point to keep in mind is that $5 million is just the initial minimum capital requirement. In addition to this requirement regulators also require brokers to set aside 10% of all customer assets aside in addition to the $5 million requirement. That means that a firm with $30...

Thank you for the reply Steve. You are correct in stating the NFA And CFTC must first approve these proposals before they go into effect. But it is well known inside the industry that the NFA is going to easily approve this and the CFTC will rubber stamp that decision. The NFA's reasoning is...

The news about the NFA shaking up the forex industry by dramatically raising capital requirements has kicked off a lot of speculation. So I gathered everything I have learned about this new NFA proposal and am posting here for your review. As someone who has been burned by a bankrupted forex...