Global credit is already decelerating at broker pace not seen since the Great Crisis. And now the Fed's withdrawing liquidity? As part of the settlement, FXCM agreed to withdraw its registration and never seek to register with the CFTC again, effectively banning it from operating in the US. The CFTC found the retail FX broker had an undisclosed interest in the market maker that consistently won the largest share of FXCM's trading volume, and was therefore taking positions opposite its retail customers. The CFTC also found that FXCM willfully made false statements to the National Futures Association in order to conceal FXCM's role in the creation of its principal market maker as well as the fact that the market maker's owner had been an FXCM employee and managing director. The commodity regulator said in a statement that "between Sept. Niv, FXCM's chief executive officer, and Ahdout, its managing director, are also barred from future CFTC registration and acting for those who are registered for the agency. FXCM is currently the largest Retail Foreign Exchange Dealer RFED in the US, with an estimated market share of approximately It is unclear what the fallout will presently be for the US FX market following the CFTC order. According to Gretchen L. The effective date for these actions is February 21, The NFA options accepted the settlement offer of FXCM, and the aforementioned individuals neither admitted nor denied the allegations outlined in the order. You mean they didn't their clients best interest in mind when trading against them? Beat me to it. Only problem or conflict might be that FXCM gets to do the marking to market. This shit won't end until we start jailing them at a minimum. Maybe lamp post a few of the too. Always sends a message. Once again a financial institution is fined for breaking the law, and options one goes to jail. The rest of us would be in orange if we had done this. Equal justice for all my flaming ass! Worked for a company who hired a guy to be sales manager whose only claim to fame was he wrote a "proprietary" trading program that lost him 7 million trading on CBOT. Top four sales guys quit within 3'weeks. Once a con man always a con man. Always seems funny to me that a lot of sales managers haven't really been much as front line closers. Not sure why that is? Maybe the old"those that can't do Teach? Let the pond scum continue to bubble. All will be revealed. OANDA trades against their own retail traders, they all do, except that OANDA owns a small bank and does their dirty business through them. I was winning alot of trades and my average spreads for the majors and crosses were about pips higher than my friends. How many fucking times do I have retail say this: They're crooks in bed with the LP banks from the U. These guys must not have given enough money to the Clinton Crime Family Foundation The fine print on ANY retail forex broker plainly states that they take the initial position against you to fill your order. Then they hedge as needed. I've had an FXCM account for years. Never had any issues regarding withdrawals, and never had any trades go sideways that wasn't my own damned fault. Forex is a ridiculous market anyway. They should let Vegas casinos run forex markets. After all, you don't actually purchase anything at the retail level. The broker is just a casino. You bet that the dollar will rise in value over the euro, pound, swissy, aussie, loonie, or vice versa. Nowhere in the futures market can you buy or sell a "pair". Forex is nothing more than a useless retail. UK spread betting has it figured out. Why can't the geniuses at our wonderfully overpaid dipshits at the CFTC? My account was bought when IBFX went back to Japan and I haven't really seen much of a difference in the way the quotes come in. IBFX were quite nice on the phone. FXCM not so much but I am not asking for them to be sweet. I presume all brokers do the same at times to fill a market order. The "house" may win or lose. Didn't know it violated any rule. Last week I had 3 trades with quality entries and price spiked into my zones and I did not get filled on all 3 trades If we did not have regulation we would not have to put up with this shitty conviction. As tRump says, cut all those stupid useless regulations and let free markets rule. Wall Street is full of crooks and we need stronger, not weaker rules. Personally, I never observeded any shenanigans. I can't really speak to the sub-penny, nanosecond resolution, but for the most part its been okay. Honestly, if you're in Forex, should this be a surprise to you that this stuff happens? My only surprise is that the CFTC made a complaint about it. Having worked on the other side of the industry I'd need to broker a book to reveal the stunts that spivs and con men like FXCM pull to rinse their clients, it's the same with spread betting firms in the uk such as CMC and IG. But the key issue is when the Swissie came off the Euro peg FXCM lost circa million, thereby revealing their lies about being non dealing desk and using an ECN model. Are you really that dense? Instead, FXCM had offloaded all open EURCHF positions to liquidity providers LPs. Tyler Durden - " As for FXCM's thousands of retail clients, they may soon have to find more creative ways of options their money than "investing" in 50x levered, central-bank dominated, HFT-infested currency markets Didn't think so, but I guess it sounds all highbrow and everything. I just trade the patterns and don't worry about who might be dominating the market. If you have a broker strategy and trade it right, you will do alright. If you have a losing strategy, you will lose no matter what is going on behind the scenes. And about the 50x leverage. In practice, US Forex brokers allow somewhat less than 50x like mid 40s because of draconian threats from the NFA and CFTC both of which can barely hide their contempt for the FX industry, let alone serve it and their US customers. Here's our Cookie Policy. How to report offensive comments. Home Contributors Newsletter Donate More Store ZH-TShirt Glossary Archive Manifesto RSS. Megyn Kelly Blows It With Alex Jones Hit Piece by ZeroPointNow - Jun 19, 7: Are Central Banks Getting Ready to Crash the System Again? Where would stocks like AMZN and WFM be trading in the absence of QE? Feb 6, 7: After Hours Leucadia Capital Markets Market Share Swiss National Bank. Printer-friendly version Feb 6, 7: Comment viewing options Flat list - collapsed Flat list - expanded Threaded list - collapsed Threaded list - expanded. Date - newest first Date - oldest first. Select your preferred way to display the comments and click "Save settings" to activate your changes. Cognitive Dissonance Feb 6, 7: Jim Sampson Cognitive Dissonance Feb 6, 7: The Alarmist nope Feb 6, 7: Fizzy Head nope Feb 6, 7: The CFTC has zero credibility! Btw, the rich quietly own physical money DaBard51 Feb 6, 7: Your tax dollahs, at work they are. When nine hundred years old you become, look this good you will not. BaitMaster Feb 6, 7: Kaiser Sousa BaitMaster Feb 6, 7: Kasperfx Feb 6, 7: Herdee Feb 6, 7: Herdee Feb 7, Oanda is also owned by Bill Gates, or his holding company, Cascade Investments. Joebloinvestor Feb 6, 7: What a FUCKING BULLSHIT FINE! At least 1 and possibly 2 orders of magnitude too little. Bruce Flea Feb 6, 8: Fuckin crybaby snowflakes lost their rent money, so they sue. Now I gotta find another broker. Don't bet what you can't afford to lose Big Brother Bruce Flea Feb 6, 9: Orly Bruce Flea Feb 6, 9: I agree with that assessment. Xena fobe Bruce Flea Feb 6, Falkor Options 6, 8: The Greek horse Feb 6, 8: Zerohedge THANKS for everything! Feb 6, 8: Jtrillian Feb 6, 8: Michigander Feb 6, 9: Peak Finance Feb 6, 9: IS it just me or does a retail Mill Dollar fine for this sound WAY TOO FUCKING LOW???? Are criminal charges pending? Feb 6, 9: Big Brother Feb 6, 9: I currently use FXCM. I can testify the following: Iconoclast Big Brother Feb 7, 4: Deplorable Steve Iconoclast Feb 7, 2: Grandad Grumps Feb 6, 9: One World Mafia Feb 6, Iconoclast Feb 7, Deplorable Steve Feb 7, 3: Why would anyone have funds with a brokerage firm with neg. Deplorable Steve Feb 8, 9: Create new account Request new password. To prevent automated spam submissions leave this field empty. 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Institutional Trading Strategies: Special on FX Options
Institutional Trading Strategies: Special on FX Options
Social harmony—interpersonal goodness, mutual support, warmth, trust, and caring—is not only considered far higher in value, but also far deeper in psychological grounding.
Little did I know my new division had other things in store for me.
Social harmony—interpersonal goodness, mutual support, warmth, trust, and caring—is not only considered far higher in value, but also far deeper in psychological grounding.