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Metatrader Misery- Part II Is Erlan Saduakasov a real person? Well, judging from this You Tube video he is. http://youtube.com/watch?v=v77IzenEPSc Erlan has been waging a non-stop crusade against FX Open for several months now. He appears on bulletin boards, has his own website...

I wasn't referring to you as a shuckster. My shuckster comments refer to fx brokers running scams.

I write about the spot fx market, not because I think it a disreputable market, but because I'm tired of all these shucksters taking advantage of this fast growing industry with their scams. There are solid fx brokers in the U.S. and the U.K. who are regulated and offer good service to the...

Metatrader Misery- Part I What happens when a business deal goes bad? You get bitterness, recriminations, machinations and vows to get even. This appears to be what happened after Poltek FX and FX Open parted company. It was not an amicable divorce and after reading through dozens of...

Metatrader Misery After getting a series of tips from disgruntled traders I'm going to follow up on a couple unregulated forex brokers next week dabbling in the treacherous MT4 arena. Masterforex, PoltekFX and FX Open are involved in a brutal slugfest that has spilled over into numerous...

Updated Swiss Dealer Dead Pool There is a great deal of uncertainty in the Swiss Forex Dealer community right now. There is no way of knowing which firms are here to stay and which firms are collecting coins in preparation for their crossing of the river Styx. I have emailed all the major...

There are several banks also offering spot forex to retail traders. The issue isn't the dealer it's the financial product. If you want to continue flacking for the CME that's your business but you aren't going to convince forex traders that trading currency futures is more efficient than...

I forgot about the commissions. Thanks for reminding me. So in futures you pay Spread AND Commissions. Another reason to trade spot fx. Look you want to trade pork bellies or orange juice than futures is the place to be. But in forex trading serious traders don't trade futures, they trade...

People don't trade currency futures because they are impractical to day trade. Execution is lousy, the spreads are too wide and the margin is unattractive. The CME is a dinosaur. Certainly they are more stable than the forex firms I write about. But they are behind the times.

Dirty Rotten Scoundrel- Part II When last we left off Robert Gray was busy handing over the financial records of a shady managed funds firm operating under his nose at GFS to government prosecutors. As the court document described GFS was clearing its trades through Interbank FX. The...

Dirty Rotten Scoundrel As I have illustrated on this thread there is no shortage of colorful con artists in the forex business. Yet there is one criminal mastermind in particular who always seems to skate away from his on ice thuggery with more dexterity than one of the Hanson Brothers...

The Lies Swiss Brokers Tell What really burns me up about this Aleccoh guy at the Forex TSD thread is his out and out lies about how his firm was supposedly regulated. A customer asked him specifically in December of 2007 if his company was regulated and asked him if he had a registration...

Another Swiss Broker Collapses Regulation can’t come soon enough to Switzerland . Yet another Swiss Forex Broker is going through its death throes right now. After posting my Swiss Dealer Dead Pool a reader told me that one of the firms on my list, Aleccoh FX (naturally it was one of the...

The Cyprus Shuffle Over the last few years an increasing number of forex firms have been popping up in Cyprus. It appears the Cypriotic authorities are taking notice and have begun to clamp down on rogue forex dealers. Recently The Cyprus Securities and Exchange Commission put out two...

Swiss Dealer Dead Pool There is great deal of uncertainty in the Swiss Forex Dealer community right now. There is no way of knowing which firms are here to stay and which firms are collecting coins in preparation for their crossing of the river Styx. I have emailed all the major Swiss...

Not true, I have long championed better regulation in the U.S. My only problem with the new rules is the cap requirements will penalize small firms. Other than that I fully favor giving CFTC more authority to regulate FX in teh U.s.

Switzerland gets an Enema And so it begins. Switzerland has finally decided to flush their financial system and purge the worst forex dealers from their bloated and cramped bowels. Henceforth, any forex dealer who wishes to do business in Switzerland MUST get a banking license. No longer...

Nice Work Nexx!

Yes FXCM is regulated by the NFA

Is FXDD Breaking the Law? I have been hearing a lot about FXDD and people have been asking me about their regulatory status. So what's the scoop? FX Direct Dealer is a New York City based broker located in Manhattan . FXDD used to be affiliated with Tradition Securities. However, today...