Every Day $4 Trillion Problems Started

[bearice]

Forex transactions are $ 4 Trillion per day. DBFX the biggest forex broker has sent an email to members:

"We are writing to inform you that Deutsche Bank will no longer be providing dbFX, its foreign exchange trading product for individuals and small institutions. This will take effect on Friday, 13 May, 2011."

The email goes on to say that seamless coverage will be provided by migrating client accounts to forex.com

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Deutsche Bank remains the world's largest provider of foreign exchange to institutional and corporate clients.

http://www.prnewswire.com/news-rele...eign-exchange-trading-business-120359154.html

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ForexMagnates.com posted an interesting article on it this morning.

http://forexmagnates.com/dbfx-is-ex...-transfers-clients-to-gain-capital-forex-com/

It might be related to new requirements being forced by CFTC.

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Saxo Bank owners close to selling 33% for $960 million?

http://forexmagnates.com/saxo-bank-owners-close-to-selling-33-for-960-million/

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Dbfx was using FXCM's platform? FXCM can't be very happy about losing this business. Won't this be an issue? FXCM is also one of the biggest name in Forex world.

Forex is the most profitable business for future and Forex transactions are $4 Trillion per day. If DBFX is quitting they must be thinking of something. Why would somebody sell a highly profitable business? Think about it.

Till today, Forex industry was safe from world economic problems/crisis. In fact Forex transactions have increased by $ 1 Trillion per day in past 1 or 2 years.

What will be the effect of DBFX quiting Forex on the world economy and stock markets?

Sincerely

Bearice (Rest in Peace)

 

[flyingreturn]

Yeah, got this mail as well.
Gain Capital is the winner in this game. http://ir.gaincapital.com/phoenix.zhtml?c=241648&p=irol-newsArticle&ID=1553244&highlight=

Zar Amrolia, Global Head of Foreign Exchange Sales at Deutsche Bank, commented "As the leading provider of foreign exchange services, we are constantly at the forefront of growing the market for everyone. We do this by developing new products, technology or services that we offer to participants such as pension funds, banks and funds of funds. We are focused on being the No1 client service provider and today with the launch of dbFX, we can now offer individual investors these services."