Ray The Random Robot
Only a few short days ago we took the momentous decision to enter several automated trading competitions simultaneously. We've been burning numerous barrels of midnight oil here at Trading Towers ever since, and for the second time in as many weeks late last night we managed to successfully shoehorn some of the dumbest trading technology ever invented into our old friend Ray the Random Robot™. Then we managed to get him entered into another automated trading contest at the very last moment.
More on Ray the Random Robot Scrapes Into MetaTrader 5 Trading Championship
Filed under Trading Contests by 
The CFTC has just released a brief statement by Commissioner Bart Chilton. We reproduce it here in full:
Landmark financial reforms were passed by the Congress and signed by the President earlier this year. The new law will ensure more efficient and effective markets, better protect consumers and cast light upon current "dark" markets that have been out of view of regulators — markets which led, in large part, — to the economic calamity that began two years ago.
More on CFTC Goes Cap in Hand to Obama. Dodd-Frank "In Jeopardy"
Filed under Regulation by
Following on from last week's announcement of their deal with Alpari (US), I spoke yesterday with James Friedman, who is Chief Operating Officer of FX Bridge Technologies Corporation. Our talk was largely concerned with how FX Bridge got to where they are today, that deal with Alpari, and the future for OTC FX options in general, and FX Bridge in particular.
Filed under Trading Platforms by
The CFTC releases details of actions it has taken against a variety of miscreants in the retail forex industry on a fairly regular basis. They have just released another one, which caught my eye because the sums of money involved are somewhat larger than usual, and also somewhat unusually:
Filed under Regulation by
It's been an extremely busy week for Ray the Random Robot™, and he has undergone a number of cloning operations. First of all the MetaTrader 5 Automated Trading Championship 2010 finally got underway at midnight on Sunday, Moscow time. Ray's multi-currency MT5 clone started perfectly, but he has had some teething troubles with EUR/USD and has now slipped back to 273rd position out of 314.
More on Ray the Random Robot Successfully Starts Smart Live Spread Betting
Filed under Trading Systems by
As we pointed out recently, the new CFTC regulations require all US spot forex brokers to use a much longer risk disclosure statement from October 18th 2010. As part of that risk disclosure:
Filed under Regulation by
Ray the Random Robot™ has just entered yet another forex trading competition. This time it's the Myfxbook/FXOpen October 2010 MetaTrader 4 ECN Trading Championship. This championship doesn't actually start until October 25th, so Ray is actually ahead of the curve on this one for a change! However one the rules of the competition states that:
More on Ray the Random Robot's Results are now Live on Myfxbook
Filed under Trading Systems by
The National Futures Association has just issued additional guidance to it's members about the CFTC's Final Forex Regulations. In its latest notice to members the NFA says that:
NFA staff has received a number of inquiries from Members seeking further guidance and clarification on certain requirements. Based on further consultation with CFTC staff on Friday, October 8th, this Notice provides additional guidance on the following areas:
Filed under Regulation by
Michael Greenberg posted an article over on ForexMagnates.com earlier today stating that:
MIG Bank – due to their bank status they will be able to accept US clients despite latest CFTC rules. The situation is not very clear for all offshore brokers now but MIG Bank were the first to announce publicly that they will be accepting US clients at least until July 2011.
I've been on the phone to Switzerland most of today trying to get confirmation of this report. I've even sent a few emails to MIG also, but I have yet to receive from them any clarification or confirmation of Michael's report.
More on Swiss Banks to Accept US Clients After CFTC Deadline?
Filed under Regulation by
Just in case you hadn't noticed, today is October 18th 2010. Today is the day that all those new CFTC regulations come into force, and when a forex trader opens a new account brokers must now reveal to them quarterly account profitability statistics covering the previous year. FXCM have done just that, and here are their numbers:
More on FXCM Release Extra Forex Trader Profitability Statistics
Filed under Regulation by
