Broker News

Cyprus has long been a hotbed for Forex activity, with a high percentage of brokers regulated in the country by CySEC and a similar number of brokers housing their main offices in the island country. But this week the Cyprus will become known not only for its regulation but for serving as the host of the first @iFXEXPO, a Forex B2B convention which will be hosted by Google and ConversionPros, a global marketing agency.

Following shakeups in the senior staff at some of the biggest Forex brokers including Forex.com and GFT Forex, OANDA has become the next Forex broker to reshuffle its team, replacing CEO Michael Stumm with K Duker, the former Managing Director for the broker's Asia Pacific division. Mr. Stumm will be remaining on the company's board of directors, but will no longer fill the role of CEO. Instead, Mr. Duker will now be tasked with helping the brokerage expand from its current market position to hopefully enjoy a larger percentage of the industry pie.

Mobile Forex trading is something we've been discussing a lot lately, as Forex brokers and market analysts are trying their hand at developing apps that will revolutionize the Forex world...or at the very least, to simplify the process on some level. But while most Forex brokers have come up with an app or two, FXCM is showing its aggressive side by launching multiple Forex trading apps at once and combining them into an FXCM App Store.

Only days after the company's celebrated Forex analysts Kathy Lien and Boris Schlossberg announced their intentions to Forex.com.

In only 2 months since its launch, MahiFX has shown a considerable desire to respond directly to the needs of its traders and potential traders. In addition to a full homepage redesign which makes the company's information significantly easier to access, the Forex brokerage has just launched a collection of charting tools and indicators which is integrated directly into the company's proprietary trading platform. The new Forex charting tools are fully customizable and enable traders to follow many common indicators including MACD, WMA and others. Traders can also zoom, draw on the charts and trade directly from the charts if they so desire.

Considering that Kim Kardashian elected to end her highly publicized (and ridiculously expensive) marriage after only 72 days and that Carmen Electra and Dennis Rodman's blessed union lasted under 300 hours, it shouldn't be entirely surprising that the previously idyllic is now being called into question, with strong rumblings of a Greek exit from the union (already dubbed a ‘Grexit' by media outlets worldwide). The EU is only around 12 years old, significantly longer than most celebrity marriages, but still in its infancy as far as political unions are concerned. Although nothing has been confirmed yet, analysts can't help but wonder what a Grexit would mean, both for European countries and for global markets. The true ramifications of such a divorce may not really be known until a Grexit is confirmed, but there are some certainties that we can expect in advance of such an event.

Saxo Bank, a leading Forex broker headquartered in Denmark, has recently announced its expansion into the Turkish Forex market. The brokerage itself won't be regulated in Turkey, but it has acquired nearly 90% of a regulated Turkish broker, Deger Menkul Degerler, which will now be called Saxo Capital Markets Menkul Degerler A.S.

While most of the ASEAN nations have been dictatorships and or communist regimes for some time, they are starting to realize that they need to move into the world of the capitalist markets and are thus in the process of opening their stock markets and currency markets to the world.