really you can get such profit???
Proposed NFA Capital Requirement
- Thread starter forexsavior
- Start date
thanx for the info. really huge profit
September Net Capital Report
The CFTC has just released their latest net capital figures. The big news is that everyone is doing well. Firms are seeing big jumps in net capital as forex brokers appear to be raking in the cash in this volatile market. It doesnât appear that anyone has had difficulty clearing the $10 million hurdle judging by the fact the NFA has not closed down anyone since Halloween (although AMIFX continues to report way below the $10 million requirement although keep in mind CFTC reports lag a full month behind current date.) The only other change appears to be that IFX and FX Solutions have formally merged as IFX is no longer listed on the CFTC Report.
http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
The following firms have net capital below $10 million
Advanced Markets $6,743,000
Friedberg Mercantile $8,164,000
ACM $8,891,000
Forex Club $9,615,000
Easy Forex $9,943,000
The following firms have net capital below $20 million
Hotspot $10,021,000
Ikon $10,424,000
GFS Forex $11,908,000
MB Trading $14,245,000
ODL $15,180,000
I Trade FX $17,258,000
Alpari $17,437,000
The following firms have net capital above $20 million
FX Solutions $21,197,000
CMS Forex $22,018,000
PFG $22,038,000
Interbank FX $37,596,000
GFT Forex $67,073,000
Gain Capital $77,580,000
FXCM $114,299,000
Oanda $168,344,000
As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new $20 million capital requirement going into effect in the months ahead.
The CFTC has just released their latest net capital figures. The big news is that everyone is doing well. Firms are seeing big jumps in net capital as forex brokers appear to be raking in the cash in this volatile market. It doesnât appear that anyone has had difficulty clearing the $10 million hurdle judging by the fact the NFA has not closed down anyone since Halloween (although AMIFX continues to report way below the $10 million requirement although keep in mind CFTC reports lag a full month behind current date.) The only other change appears to be that IFX and FX Solutions have formally merged as IFX is no longer listed on the CFTC Report.
http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
The following firms have net capital below $10 million
Advanced Markets $6,743,000
Friedberg Mercantile $8,164,000
ACM $8,891,000
Forex Club $9,615,000
Easy Forex $9,943,000
The following firms have net capital below $20 million
Hotspot $10,021,000
Ikon $10,424,000
GFS Forex $11,908,000
MB Trading $14,245,000
ODL $15,180,000
I Trade FX $17,258,000
Alpari $17,437,000
The following firms have net capital above $20 million
FX Solutions $21,197,000
CMS Forex $22,018,000
PFG $22,038,000
Interbank FX $37,596,000
GFT Forex $67,073,000
Gain Capital $77,580,000
FXCM $114,299,000
Oanda $168,344,000
As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new $20 million capital requirement going into effect in the months ahead.
The Pirates of Scandinavia
Last month the S.S. Saxo Bank forced hundreds of employees to walk the plank in a furious effort to keep their Danish Longship from taking on any more water amidst the financial tsunami that has engulfed CFD brokers around the world. But it is another former shipmate of Saxo that has now taken to his Somalia-like pirate ship to fire pot shots at this listing to port Viking Broker. Ahoy itâs Charles-Henri Sabet! With parrot perched on shoulder and a black eye patch in place Sabet has Saxo in his sightsâ¦
According to Euromoney Magazine in an article titled âCharles Henri Sabet Bites Back in Saxo Sagaâ Sabet says that he was exiled to Davey Jones locker because of a shareholder dispute, not because of an SFBC investigation of alleged insider trading.
http://www.euromoney.com/Article/20...rles-Henri-Sabet-bites-back-in-Saxo-saga.html
So how did this investigation come about? Euromoney states:
So instead of paying Sabet his share of Saxoâs booty the scallywags in Denmark simply ratted him out to regulators? Shiver me timbers thatâs a low thing to do to a mate. But Sabet wasnât the only one sent to the brig.
Yarrrgh matey, Saxo ainât likely to depart from its treasure anytime soon. This Sabet fellow could be waiting a long time before he sees one gold doubloon from the cash strapped folks in Denmark. I reckon Sabet would have a better chance demanding ransoms from oil tanker owning Saudi princes than from a forex and cfd broker that had been spending money like a drunken sailor on shore leave prior to the financial panic.
Arrgh, Sabet best crack open a bottle of Rum and batten down the hatches cause Saxo will fight him to the last cannon ball over that 5% share. To be continued Iâm sure.
Last month the S.S. Saxo Bank forced hundreds of employees to walk the plank in a furious effort to keep their Danish Longship from taking on any more water amidst the financial tsunami that has engulfed CFD brokers around the world. But it is another former shipmate of Saxo that has now taken to his Somalia-like pirate ship to fire pot shots at this listing to port Viking Broker. Ahoy itâs Charles-Henri Sabet! With parrot perched on shoulder and a black eye patch in place Sabet has Saxo in his sightsâ¦
According to Euromoney Magazine in an article titled âCharles Henri Sabet Bites Back in Saxo Sagaâ Sabet says that he was exiled to Davey Jones locker because of a shareholder dispute, not because of an SFBC investigation of alleged insider trading.
http://www.euromoney.com/Article/20...rles-Henri-Sabet-bites-back-in-Saxo-saga.html
So how did this investigation come about? Euromoney states:
So instead of paying Sabet his share of Saxoâs booty the scallywags in Denmark simply ratted him out to regulators? Shiver me timbers thatâs a low thing to do to a mate. But Sabet wasnât the only one sent to the brig.
Yarrrgh matey, Saxo ainât likely to depart from its treasure anytime soon. This Sabet fellow could be waiting a long time before he sees one gold doubloon from the cash strapped folks in Denmark. I reckon Sabet would have a better chance demanding ransoms from oil tanker owning Saudi princes than from a forex and cfd broker that had been spending money like a drunken sailor on shore leave prior to the financial panic.
Arrgh, Sabet best crack open a bottle of Rum and batten down the hatches cause Saxo will fight him to the last cannon ball over that 5% share. To be continued Iâm sure.
The Taming of the Wild West
The forex market has long been known as the Wild West of Finance due to its unregulated nature. But the frontier is being tamed and it now appears the day of the unregulated Introducing Broker is drawing to a close. While the CFTC has not yet released its new Forex Dealer rules to the public the NFA just issued a preliminary set of guidelines for all introducing brokers who are now required by law to be licensed: http://www.nfa.futures.org/compliance/forex_registration_overview.asp
Among the rules, IBs must maintain net capital of $45,000. Aside from other requirements like proficiency exams and disclosure documents the NFA is doing background checks which require finger printing:
This should help drive some of the industryâs worst cattle rustlers out of the market and into a new line of work, like holding up banks instead...
It remains to be seen just how onerous the new rules from the CFTC will be but with the NFA releasing this guide now the CFTC shouldnât be too far behind.
The forex market has long been known as the Wild West of Finance due to its unregulated nature. But the frontier is being tamed and it now appears the day of the unregulated Introducing Broker is drawing to a close. While the CFTC has not yet released its new Forex Dealer rules to the public the NFA just issued a preliminary set of guidelines for all introducing brokers who are now required by law to be licensed: http://www.nfa.futures.org/compliance/forex_registration_overview.asp
Among the rules, IBs must maintain net capital of $45,000. Aside from other requirements like proficiency exams and disclosure documents the NFA is doing background checks which require finger printing:
This should help drive some of the industryâs worst cattle rustlers out of the market and into a new line of work, like holding up banks instead...
It remains to be seen just how onerous the new rules from the CFTC will be but with the NFA releasing this guide now the CFTC shouldnât be too far behind.
October Net Capital Report
The U.S. retail forex industry appears to be soaring over the new capital requirements by leaps and bounds. October showed an across the board increase in virtually every dealerâs net capital. Still, for some firms it is a long way to $20 million. And while small firms like ACM and Advanced Markets were able to meet the first barrier the Savior will be watching closely to see if they can keep it up.
http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
The following firms have net capital below $15 million
Advanced Markets $10,163,000
Hotspot $10,559,000
Easy Forex $10,891,000
ACM $11,855,000
GFS Forex $12,503,000
MB Trading $14,522,000
The following firms have net capital below $20 million
Ikon $15,033,000
Forex Club $16,489,000
Alpari $18,212,000
I Trade FX $18,411,000
ODL $19,991,000
The following firms have net capital above $20 million
PFG $21,809,000
CMS Forex $25,162,000
Interbank FX $40,892,000
FX Solutions $43,570,000
GFT Forex $76,980,000
Gain Capital $96,371,000
FXCM $122,924,000
Oanda $170,982,000
As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new $20 million capital requirement going into effect in the months ahead.
The U.S. retail forex industry appears to be soaring over the new capital requirements by leaps and bounds. October showed an across the board increase in virtually every dealerâs net capital. Still, for some firms it is a long way to $20 million. And while small firms like ACM and Advanced Markets were able to meet the first barrier the Savior will be watching closely to see if they can keep it up.
http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
The following firms have net capital below $15 million
Advanced Markets $10,163,000
Hotspot $10,559,000
Easy Forex $10,891,000
ACM $11,855,000
GFS Forex $12,503,000
MB Trading $14,522,000
The following firms have net capital below $20 million
Ikon $15,033,000
Forex Club $16,489,000
Alpari $18,212,000
I Trade FX $18,411,000
ODL $19,991,000
The following firms have net capital above $20 million
PFG $21,809,000
CMS Forex $25,162,000
Interbank FX $40,892,000
FX Solutions $43,570,000
GFT Forex $76,980,000
Gain Capital $96,371,000
FXCM $122,924,000
Oanda $170,982,000
As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new $20 million capital requirement going into effect in the months ahead.
NFA Drops Another Bombshell
The National Futures Association has passed some new rules that all traders should be aware of ASAP:
http://www.nfa.futures.org/news/PDF/CFTC/CR2_43_ForexPriceAdj_112408.pdf
Translation- No more âadjustments,â unless these adjustments meet strict NFA standards.
Translation- no more hedging of the same position.
These are profound changes. How many times have traders complained about profits being âremovedâ from their accounts? Well, if you trade with a NFA registered firm those days appear to be over. The hedging prohibition may upset some traders but truth be told there is little logic behind holding the opposite positions in the same currency pair. Still, you would think traders would be allowed to trade as they see fit without the nanny state running around dictating what positions you are allowed to hold.
In any case the evolution of FX trading continuesâ¦
The National Futures Association has passed some new rules that all traders should be aware of ASAP:
http://www.nfa.futures.org/news/PDF/CFTC/CR2_43_ForexPriceAdj_112408.pdf
Translation- No more âadjustments,â unless these adjustments meet strict NFA standards.
Translation- no more hedging of the same position.
These are profound changes. How many times have traders complained about profits being âremovedâ from their accounts? Well, if you trade with a NFA registered firm those days appear to be over. The hedging prohibition may upset some traders but truth be told there is little logic behind holding the opposite positions in the same currency pair. Still, you would think traders would be allowed to trade as they see fit without the nanny state running around dictating what positions you are allowed to hold.
In any case the evolution of FX trading continuesâ¦
Should have seen this comming!!!
Now that CFTC have raised the caps squeezed out the smaller market makers and monopolized the US FX industry, the CFTC/NFA and their dues paying club members ( FCMâs) will all now work together to put the disadvantage on the traders side.
1 More good reason to steer clear of the US FX firms. Investor protection my ass, more on the lines of socialism for the few.
Now that CFTC have raised the caps squeezed out the smaller market makers and monopolized the US FX industry, the CFTC/NFA and their dues paying club members ( FCMâs) will all now work together to put the disadvantage on the traders side.
1 More good reason to steer clear of the US FX firms. Investor protection my ass, more on the lines of socialism for the few.
Huh? What are you smoking Big Gun? What trader wouldn't want to trade with a firm that isn't allowed to take confiscate profits from your account? If you want to trade with some offshore bucketshop that freely swipes profits out of the accounts of winning traders they are plenty of sharks you can deal with.
But I'm guessing most traders prefer the NFA's approach.