Broker News

Doug Rosen, a full-time trader, has recently set up the Forex Trade Plans. He provides traders with intraday calls according to his Fibonacci levels starting with just the EURUSD. DailyForex.com sat down with Doug and discussed his journey into trading, his live room and how he views the markets.

In recent weeks, iForex has been brutally scrutinized following allegations that it breached consumer protection policies – but new claims against another reputable broker, FXCM (aka Forex Capital Markets), confirm that such malpractice can happen even among the largest brokers, and that it is for just these circumstances why trading with a regulated Forex broker is absolutely critical.

The concept that war stimulates the economy has long been disproven, but a look at international headlines indicates that many people still haven't gotten that memo. In recent days, rioters worldwide have taken to the streets to protest the economic crises that have send stock markets plummeting, job markets reeling and Forex markets into a tailspin of volatility.

Only weeks after its regulation was suspended by the Hungarian Financial Services Authority, the company has won an appeal to have its license reinstated. The Budapest Metropolitan Court rebuffed the original ruling of the HFSA and has now allowed iForex to conduct business on behalf of its existing customers, and to accept new traders. This judgment will be in effect until the petition by iForex for a permanent reregulation is resolved by the courts.

Global speculation about whether the US would default on its loans ended today as President Obama signed a debt-limit compromise plan which will raise the nation's debt ceiling until 2013 and reduce spending by over $2 trillion during the next 10 years. On the heels of this compromise, the respected rating companies Moody's and Fitch Ratings both decided to keep the country's debt rating at AAA, though both ratings agencies retained a negative outlook on the rating which could spell trouble for the US in the next 12-18 months if things don't improve quickly. It has yet to be seen whether the third global ratings agency, the S&P, will maintain the highest ratings for the US or will downgrade the country's ratings.

Rising concern over the debt crises in both Europe and the United States have caused both the Euro and the US Dollar to plunge in recent months, and analysts are wary of predicting an upswing in the immediate future. In the southern hemisphere, however, currencies appear to be strengthening slowly and steadily, resulting not only in a relatively safe haven, but also in increased Forex trading activity in the region. A report released on July 25th indicates that Australian Forex trading as of April has risen 14% in US Dollar terms as compared with last year's activity.

Summer vacation is upon us, and if you're anything like me, you probably feel conflicted between the call of the great outdoors and the desire to remain tethered to your computer as you search for a profitable trade. Fortunately, one of the most popular advances in trading technology over the last couple of years has been the advent of mobile trading. The ability to check your positions and adjust them while on the go has made the market accessible in ways that were only dreamt of a few short years ago.

On the heels of a recent crackdown of unregulated Forex brokers in the United States, the Hungarian Financial Services Administration (HFSA) has also flexed its regulatory muscles, by suspending the operating license of iForex, and fining the company $100,000 for breaching consumer-protection regulations. The HFSA completed a full investigation into the company's activities before taking disciplinary actions against iForex. The HFSA report.