Proposed NFA Capital Requirement - page 54
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Broco OK
No, I do not think that Broco will default, for one thing they have a $10,000,000 U.S. dollar insurance policy in place for just this short of thing. Second, while most of their customers are Russian, the banks overseas depositors are using to trade with them are not, and go into U.S. funds accounts. Third, if you have any sizable amount with them $100,000 or more you can have your funds put into a segregated funds account at the bank, so you wouldn't be hurt if their ruble based accounts took a beating. So of all the Russian firms out there Broco is the last one too be worried about. I would be a lot more concerned if I was with Alpari, Poltek, or FXopen than Broco.
Also why the scare tactics only in regards to Russia? Why not mention also that U.S. banks are the ones that collapsed and if not for hyper inflation on part of the Fed and Communist nationalization by the government your U.S. bank account with your U.S. broker would be worthless? This crisis is global in scope, in reality your not safe anywhere these days.
One more thing, regarding Crown, it is the lawyers who are running Crown untill the investigation finishes that are forbidding the withdrawals. It's not that Crown itself is refusing to pay, it's that the lawyers don't want to send home anyones money untill THEY get paid.
^ LOL. David Smith. Nice handle.
How about FXDD in the U.S? Are they regulated yet as of now? Thanks
Hi All,
Does anybody know if FXDD has been approved by CFTC as a regulated FX Broker in the U.S as of now yet?
What about their current capital?
Thanks for sharing information
Thanks and regards,
James
Hi All,
Does anybody know if FXDD has been approved by CFTC as a regulated FX Broker in the U.S as of now yet?
What about their current capital?
Thanks for sharing information
Thanks and regards,
JamesFXDD has still not gotten a license. It is not known how much capital they have as they do not have to report it until they get a license.
I would take a guess that FXDD is looking for a merger.
ES
December Net Capital Report
The CFTC has just released their latest net capital figures. The field is narrowing dramatically with the departure of HotSpot, ACM and ODL. Which firm will go next?
http://www.cftc.gov/marketreports/f...rfcms/index.htm
The following firms have net capital below $20 million
Advanced Markets $10,071,000
GFS Forex $12,888,000
Easy Forex $13,094,000
Ikon Royal $14,249,000
MB Trading $14,779,000
I Trade FX $15,254,000
Forex Club $15,982,000
Alpari $17,497,000
The following firms have net capital above $20 million
PFG $27,395,000
CMS Forex $28,021,000
Interbank FX $43,669,000
FX Solutions $44,618,000
GFT Forex $75,215,000
Gain Capital $107,167,000
FXCM $115,260,000
Oanda $169,722,000
As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new $20 million capital requirement going into effect in the months ahead.
...
One more thing, regarding Crown, it is the lawyers who are running Crown untill the investigation finishes that are forbidding the withdrawals. It's not that Crown itself is refusing to pay, it's that the lawyers don't want to send home anyones money untill THEY get paid.
How do you know this? They don't mind deposit and they don't honor withdrawals for now, does that sound right coz i know they stil accept deposit from new customers.
who said life is fair?...who in the world would be depositing to Crown?
ES
How do you know this? They don't mind deposit and they don't honor withdrawals for now, does that sound right coz i know they stil accept deposit from new customers.