Trading-Gurus.com » CFTC

The NFA Tighten Their Grip on Spot Forex

Jim — Thu, 22 Jul 2010 09:08:01 +0000

The National Futures Association have made a couple of announcements recently that strongly suggest the number of US spot forex brokers and their associated introducing brokers are going to decline even further in the near future. Last week the NFA implied that the proposed new CFTC regulations about forex IBs are going to be implemented much as originally drafted. They pointed out that:

More on The NFA Tighten Their Grip on Spot Forex

How Goldman Sachs Can Wreck Your Forex Account

Jim — Sat, 24 Apr 2010 16:31:15 +0000

The publicity battle over financial reform in the United States gets ever hotter. A variety of glossy magazines are currently sinking their teeth into Goldman Sachs following the news that the investment bank is under attack by regulators on both sides of the Atlantic. Although its articles are sprinkled with the word "alleged", Time seems to have already judged Goldman Sachs and the rest of Wall Street guilty as charged. In one article this weekend Time highlights the irony that Gary Gensler, a former Goldman Sachs partner and now chairman of the CFTC, is currently gunning for his previous paymasters. According to Time:

More on How Goldman Sachs Can Wreck Your Forex Account

Introducing Brokers Form Their Own Coalition

Jim — Fri, 12 Mar 2010 16:28:39 +0000

Following the example of the forex dealers a few weeks ago, a group of 6 introducing brokers have banded together to form the Introducing Brokers Coalition against the CFTC proposals for “Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries”. Unlike the forex dealers, first on the IBs list of proposals they would like to see changed is:

More on Introducing Brokers Form Their Own Coalition

Congressmen Question CFTC 10 to 1 Leverage Reduction

Jim — Thu, 04 Mar 2010 18:01:39 +0000

Is sounds as though some US congressmen have been reading some of the thousands of complaints the CFTC has received about its proposals to reduce leverage on spot forex from 100 to 1 down to 10 to 1.

More on Congressmen Question CFTC 10 to 1 Leverage Reduction

Interbank FX Comment on CFTC 10 to 1 Leverage Proposals

Jim — Thu, 18 Feb 2010 12:02:31 +0000

In the first response I have spotted made by a forex broker to their recent proposal to limit leverage to a maximum of 10 to 1, the CFTC earlier this week published a 6 page letter from Interbank FX on their website. Interbank FX welcome most of the other CFTC proposals, but say that the 10 to 1 leverage proposal:

More on Interbank FX Comment on CFTC 10 to 1 Leverage Proposals

Forex Dealers Coalition Website Launched

Jim — Wed, 27 Jan 2010 01:01:53 +0000

In response to the proposed legislation to reduce forex leverage to 10 to 1, beleaguered US brokers have banded together to form the Forex Dealers Coalition to fight a common enemy; the CFTC! The Coalition have just launched their website, which urges their readers to:

More on Forex Dealers Coalition Website Launched

New Download Location for CFTC 10 to 1 Leverage Proposals

Jim — Fri, 22 Jan 2010 15:10:40 +0000

It has been brought to our attention that the original link we published to the page on the CFTC website that allowed you to download the 193 page document detailing its newly released proposals to limit leverage in the retail forex industry in the United States to 10 to 1 now simply says:

More on New Download Location for CFTC 10 to 1 Leverage Proposals

CFTC Publishes Public Comments on Ten to One Leverage Proposal

Jim — Wed, 20 Jan 2010 19:33:38 +0000

The CFTC has now published details of how to comment on its new ten to one leverage proposals for retail forex accounts. If you click the link at the bottom of that page you can also read the initial comments that the CFTC has received.

More on CFTC Publishes Public Comments on Ten to One Leverage Proposal

The American Dream Moves Offshore?

Jim — Tue, 19 Jan 2010 13:19:11 +0000

When I started writing this blog in the Spring of 2009 I put forward the proposition that thanks to the advent of the internet and online retail forex brokers it had become possible for anyone possessing an entrepreneurial spirit, and prepared to put in the required effort over a number of years, to learn how to turn $1000 that they were willing and able to lose into a business that could support their family and themselves. I didn't say it was easy, but I did suggest it was possible. All that is about to change. It never was easy, and it looks like it's going to get ten times more difficult, for US citizens at least.

More on The American Dream Moves Offshore?

FIFO Fiasco Status Report – Who Said What When?

Jim — Mon, 03 Aug 2009 20:54:34 +0000

At long last August 2nd has been and gone, and the dust has settled slightly. We'll cover what still works and what doesn't in a forthcoming post, but for today we're going to concentrate on who said what, and when. We'll do that by working our way down the list of retail forex brokers included in the CFTC report on the financial strength of Futures Commission Merchants. For some reason it seems the better capitalised a broker is the less it has to say about the FIFO fiasco!

More on FIFO Fiasco Status Report – Who Said What When?