Proposed NFA Capital Requirement - page 28
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Regarding One World
Hi Everyone,
I have been "lurking" in this forum for some time and just decided to sign up as I have a plethora of questions regarding MT4 and general Forex related issues as well. I was recently approached by a client who was with One world Capital before they shut the doors. He had asked me to find him a contact number or some way of finding out how to withdraw his number. Does anyone know of any contacts there or anyone who has gone through this process of firms closing before? Any advise would be much appreciated. And also I was not sure if this was the best place to post this so I am sorry if I am out of place. Also I do appreciate the insight and knowledge I have gained through this site. Thanks to the senior members who have provided me a firm grasp on whats going on in the Mt4 and Forex community. I hope to add some sort of value when I do post. Thanks in advance.
Sonny
One World
Does anyone know how to get ahold of funds from One World now that they are closed? Have called a vast array of numbers only to come upon full voicemail boxes... any insight would be of much help. Thanks!
Does anyone know how to get ahold of funds from One World now that they are closed? Have called a vast array of numbers only to come upon full voicemail boxes... any insight would be of much help. Thanks!
You can try to call NFA.
For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org
NFA takes emergency enforcement action against Illinois forex firm, One World Capital Group LLC
December 3, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against One World Capital Group LLC (One World), a Futures Commission Merchant and Forex Dealer Member located in Winnetka, Illinois.
Effective immediately, the Member Responsibility Action (MRA) prohibits One World from soliciting or accepting any additional customer accounts or funds. In addition, the MRA prohibits One World from accepting or placing trades for any customer accounts except for the rollover and/or liquidation of existing customer positions. The MRA also prohibits One World from distributing, disbursing or transferring any funds without prior NFA approval. One World must produce a financial statement, including a net capital computation, which reflects all assets and liabilities to NFA.
The NFA investigation was prompted by complaints NFA received from One World's forex customers. Several customers notified NFA of their difficulty in withdrawing funds from their One World trading accounts and have yet to receive their requested withdrawals. During the course of the investigation, One World failed to produce complete support for certain material asset and liability balances.
The MRA will remain in effect until One World has demonstrated that it is in complete compliance with all NFA Requirements. One World may request a hearing before an NFA Hearing Panel.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.
hi fellas... how about fxdd? can i trade with northfinance?? opinions are welcomed.. tq
FXDD & North Finance
I don't believe either are regulated (notwith NFA/CFTC anyway). I would be concerned about unregulated brokers operating out of Belize, and would want to proceed very carefully given this. Good luck.
Goodbye to YOU
Goodybye to YOU
A new year brings with it a new forex industry. Let's hope that the new year will be a lot better than the last. Last year the NFA had its hands full as over a dozen firms went under dragging thousands of investors to the bottom of the sea. The NFA has stated that there are now only 24 registered forex dealer members. It appears the following four firms were recently removed from this exclusive club of 24:
1) Hamilton Williams (Velocity4X)
2) Royal Forex
3) Solid Gold
4) SNC Investments
NFA reports four forex firms have ceased operations in light of increased capital requirements
January 11, Chicago - National Futures Association (NFA) announced today that four of its Forex Dealer Members (FDMs) have ceased operations as a result of NFA's new $5 million capital requirement, which became effective on December 21. In addition, six additional FDMs have ceased operating since September 1, 2007.
"When NFA's Board of Directors adopted the increased capital requirement on August 15, 2007, NFA had 34 registered FDMs," said Regina Thoele, vice-president of Compliance. "As of December 31, 2007, that number has decreased to 24."
The four firms that were unable to meet the new capital requirement and ceased operating transferred their customer accounts to other FDMs.
"We closely monitored each of the firms to ensure that customer funds were transferred to another, fully-capitalized firm," says Thoele.
But I wouldn't be surprised if the NFA took some further dramatic actions in the next few weeks as firms like Advanced Markets are still way below the capital requirement as of the last CFTC financial report:
Financial Data for FCMs
Developing...
Thank you for your information.
Need opinion
Hi Guys,
How about CMS Forex? How's their financial status? Any opinion?
Thanks.
Hi Guys,
How about CMS Forex? How's their financial status? Any opinion?
Thanks.You could check their financial status in the CFTC report.
You could check their financial status in the CFTC report.
These reports are for Nov. 2007 but NFA have new minimum on Dec. 21, 2007. We may need to wait until next month to get the new reports for the new minimum capital requirement.