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
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The Forex MegaDroid team seemed to think that the NFA's new FIFO regulations were going to cause their creation some problems. On July 5th they sent an email to their customers promising that:
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We've chosen Interbank FX as the first broker to examine in our status reports about what works and what doesn't following the long awaited implementation of the FIFO requirement of NFA compliance rule 2-43(b). We're looking at IBFX first because they made some impressive claims about MetaTrader 4 expert advisors in their July 20th announcement:
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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!
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As you know, I was idly perusing the Boston Technologies website the other day when I happened across their very own MetaTrader robot, which seems to have developed an unfortunate habit of losing money rather than making it hand over fist.
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