Currensee’s social network received an approval from Britain’s FSA, one of the tougher regulatory bodies in the world of forex. It also opened an office in London and can now introduce clients to UK-based forex brokers. More regulation means more transparency. London is the biggest hub for forex trading, with over a third of transactions … “Currensee Gets FSA Approval”
Category: Forex industry
CFTC Assuming Babysitter Role
Regulating US forex brokers is one thing. But preventing traders from opening offshore accounts is already another thing. This is already significant “baby-sitting” and over “protection” opinion. Some brokers are already bringing clients back home. Will US traders be blocked from opening accounts with offshore brokers? The talk about the new CFTC rules created a … “CFTC Assuming Babysitter Role”
50:1 Leverage Limit – Industry is Growing Up
In less than a month, the new CFTC rule regarding foreign exchange will be in effect – a maximum leverage limit of 50:1 on majors and 20:1 on others. This might be frustrating for some traders, but in the long run, I believe this is a good step for industry. I believe that a leverage … “50:1 Leverage Limit – Industry is Growing Up”
Currensee Introduces Public Trader Profiles
Currense, the social network for forex traders, launched a new feature – public profiles. Users can opt in to share their real trading performance, bios, and trading strategies on social networks. Public profiles can be seen via a direct URL that can be shared on social networks such as Facebook, Twitter, and other networks. This … “Currensee Introduces Public Trader Profiles”
Barrier Options Now Available on StartOptions
Together with the evolution of forex trading, also binary options are evolving – StartOptions is now offering Barrier Options. These hourly options have a 300% return rate when the option expires “in the money” – if the barrier level has been reached at expiry. This new product came after many traders on the platform … “Barrier Options Now Available on StartOptions”
Forex Traders Survey
CitiFX launches a wide survey of forex traders – wide in the number of participants and deep in the number of questions. Anyone can participate. The results are due in October. 25 questions are presented in this survey. They cover a wide range of array of areas that are significant to forex traders. CitiFX says … “Forex Traders Survey”
Will Foreign Forex Brokers Get “Gambling” Classification
The new CFTC rules consist of 50:1 leverage decision as well as many other regulations for the industry. But there might be one big hidden rule: US clients won’t be able to open accounts with foreign brokers. This can be implemented by assigning the notorious 7995 credit card classification to foreign brokers – preventing American … “Will Foreign Forex Brokers Get “Gambling” Classification”
Forex Leverage Limit 50:1 – Will US Traders Run Away?
It took the CFTC a lot of time, but they finally finalized their ruling for forex: leverage will be limited to 50:1 on major currencies, and 20:1 on minors. The pressure against the initial 10:1 proposal worked, but the industry will still change. American traders: Will you stay with your American broker? In January, the … “Forex Leverage Limit 50:1 – Will US Traders Run Away?”
Forex SMS Alerts – Mobile4X Review
Mobile4X is a new services that provides custom real time SMS alerts on forex rates. The free service can be set send alerts on a time basis or upon a breach of a technical level. Here’s a review. Mobile4X was developed by Peter Blaikie, who wanted to relieve forex traders of their habit to attach … “Forex SMS Alerts – Mobile4X Review”
FXCM Gives Best Possible Price on Weekend Gaps
On weekend gaps, if the price at the opening is better than your limit, you’ll get a deal only at your limit, and not the best possible price in the market. This applies for most brokers. Such gaps occur also on surprising news releases. Now FXCM commits to give the best possible price – positive … “FXCM Gives Best Possible Price on Weekend Gaps”