Broker News

The Forex market enjoys $5.3 trillion turnover daily – don't you want to be a part of it?

The FX Academy was designed with care to ensure that traders at all levels will have the tools they need to develop into expert traders. Among the lessons included are focuses on core issues such as understanding macro market forces and the basics of technical analysis to trading psychology to more complex FX trading concepts and strategies. The FX Academy also provides a solid grounding in the understanding of risk management and the responsible use of leverage. Perhaps the biggest advantage of the Academy, however, is the fact that it is not aligned with any specific brokerage, which means that students can learn in a pressure-free environment for as long as they need to feel entirely comfortable.

In a moved that stunned traders, affiliates and even company employees, iOption closed it's doors, leaving a wave of chaos in its wake. On Friday, November 8^th, iOption informed its employees that it was closing down effective immediately. Although the broker did not announce the closure in advance, it should not have been a surprise to anyone, especially to investors. For the last several months, problems within the company have arisen and trader withdrawals were not being processed.

Trading forums have been part of the trading landscape ever since the internet has become popular. For the most part, trading forums have been a helping guide for those who seek initial advice, trading education and a place to ask about 3^rd part vendor services. Before you trade in a Forex forum, however, it's a good idea to know a bit about what they truly offer. Here are some advantages of using a Forex forum:

The National Futures Association (NFA) imposed a $600,000 fine on Forex broker IBFX last week over irregularities in reporting. IBFX was formerly known as InterbankFX and is still referred to under this name.

The US government shutdown is now entering its third week. All non-essential operations have been closed and hundreds of thousands of federal employees have been sent home. Despite the House of Representatives vote to pay these workers retroactively once the shutdown ends, many citizens are suffering mental and physical hardships due the impact of the prolonged financial impasse.

Continuing in its ongoing expansion efforts, US based Forex broker FXCM, a leading online provider of foreign exchange, announced the purchase of 50.1% of foreign exchange intelligence company Faros Trading LLC. No further details of the transaction were made available.

GAIN Capital Holdings, Inc. (GCAP) announced that it has signed a definitive agreement to acquire Global Futures & Forex, a provider of retail Forex and derivatives trading with offices in London, Singapore, Tokyo, Sydney and Grand Rapids, Michigan. Both companies will initially retain their separate brand identities.

The U.S. Commodity Futures Trading Commission (CFTC) issued a $1.1 million fine and a $1.8 million restitution order against FXDD, a New York-based FX company. FXDirectDealer, LLC is registered with CFTC as a Futures Commission Merchant.