NFA fines Gain/Forex.com $459,000

W

Wallace

from SWScapital's thread: 'NFA notice regarding Gain financial'
http://www.elitetrader.com/vb/showthread.php?s=&threadid=209336

attached is the NFA's 'Case Document' - interesting reading particularly about the
MetaTrader 'Virtual Dealer Plug-ln' and how Gain set-up the VDP to benefit the
company via 'slippage'

Searched for 'Virtual Dealer Plug-ln' but no results - was there a thread here on ET
about it ? don't see it listed on MetaQuotes' site, did they rename it - 'MetaTrader 4
Manager' ?
 

Attachments

Quote from bstay:

all TradeStation clients should pressure TradeStation to drop Gain Capital as its forex clearing partner.
More...

Who says the clients are important? The relationship is therefore for the benefit of Tradestation and Gain.

Most clients of financial firms are there to be milked, hopefully without them realising.......
 
Quote from jharmon:
Trade FX Futures.
At least your broker isn't trying to fleece you.
More...
we may have to trade fx futures very soon. the way the futures exchange bosses are forcing regulators to clam down on spot forex brokers ...... new CFTC/NFA rules every now and then.
 
have to wonder how the NFA got onto Gain, they make no mention of it but did they
originally receive complaints from Gain clients ?

is the NFA checking all the other MT4 brokers ?
what about proprietary sw such as FXCM's, Oanada's and Visual Trader etc ? do
they have built-in 'slippage' parameters ?
 
yeah, I had mt4 account at gain/forex.com as well....

there's a reason i left way before the NFA even added FIFO restrictions. had a problem with PFG too. MBT mt4 was the best live at that time. probably still is
 
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