Tuesday, March 13, 2012

Saxo relaunches forextrading.com as separate entity geared towards retail MT4 forex traders

Saxo relaunches forextrading.com as separate entity geared towards retail MT4 forex traders

Saxo relaunches forextrading.com as separate entity geared towards retail MT4 forex traders

Posted: 13 Mar 2012 02:45 PM PDT

In June 2011 Saxo Bank launched forextrading.com as a retail alternative to its more high end regular offering. For instance Saxo’s minimum account size is $10,000 while forextrading allowed opening accounts from $2000. In a market where many brokers offer live trading account from $1 it wasn’t big news, but it was a big change in Saxo’s way of … [visit site to read more]

BNY Mellon sued by Ohio

Posted: 13 Mar 2012 02:02 PM PDT

BNY Mellon is being sued left and right (and this was expected). Now it’s Ohio’s turn:

Ohio Attorney General Mike DeWine on Monday filed a lawsuit against the Bank of New York Mellon for allegedly making improper foreign exchange trades on behalf of the state’s two retirement funds.

The suit, filed in Franklin County Common Pleas Court, accuses the bank of breach of … [visit site to read more]

NFA steps up segregation rulemaking

Posted: 13 Mar 2012 11:01 AM PDT

Following MF Global’s debacle NFA and CFTC are seeking ways to strengthen client funds protection. One of the obvious ways of doing that is the segregation requirement which for instance didn’t exist for forex brokers until now. This will soon change.

Forex Magnates sources also reveal that CFTC may soon enact a much more limiting rule which will require brokers … [visit site to read more]

LCH receives regulatory approval for its ForexClear service

Posted: 13 Mar 2012 02:58 AM PDT

LCH.Clearnet receives Regulatory non-objection to launch OTC FX clearing

LCH, which was acquired by London Stock Exchange last week, received FSA’s approval to start clearing FX NDFs via its ForexClear service.

LCH.Clearnet Limited (LCH.Clearnet), the world’s leading independent multi-asset class clearing house, on Monday received regulatory non-objection … [visit site to read more]

The first B2B Google @ iFXEXPO with ConversionPros Forex event!

Posted: 13 Mar 2012 02:38 AM PDT

I’m very happy to announce the launch of the first forex B2B Expo hosted by Google and ConversionPros.

Taking place in Cyprus at the end of May 2012 iFXEXPO is the event for all forex providers and brokers to meet and get to know each other.

Forex Magnates is the Gold sponsor of this Expo and will be present there with its own booth as well as participating as a speaker. We warmly welcome everybody to come and meet us there!

[visit site to read more]

eToro officially announces a $15 million financing round

Posted: 12 Mar 2012 08:59 PM PDT

We broke these news on Sunday – eToro just completed another financing round, however this time it’s a very large one. This perhaps is the largest round for a forex start-up to date.

I had the chance to ask Yoni Assia, eToro’s CEO, a few questions:

Q: What is the investment for? PR mentions ‘fuel expansion’ – but more concrete plans? Will eToro introduce more innovations in the social trading … [visit site to read more]
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