Why is the adoption of the MT5 platform so slow? - page 5
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More recent data on US brokers from the same website forexmagnates.com:
In Q2 2012 profitability of US forex traders kept dropping although the change was less than in Q1 2012: -1.1% and -1.9% respectively. Number of forex accounts dropped by almost 2,000 and the only ones able to grow were Alpari, ILQ, Forex Club and Advanced Markets. It's possible that May's volatility had something to do with this.
I wonder what is going on with the forex brokers at the global level? How many forex accounts are there in the world?
FX Club dropped out entirely, OEC merged with FXDD, IBFX shamefully sold out to Tradestation for a mere penny (and Tradestation itself sold to the Japanese). The value of FXCM shares fell to 3 times the offering price.
The CFTC bans Americans from opening accounts with foreign brokers and fines foreign(!!!) brokers. It's only going to get funnier from here on.
You see the charts, you see the minuses, but you don't understand or know the processes. The massive drop in trading volumes is killing brokers more than small (but still important) percentages of account churn.
FX Club dropped out entirely, OEC merged with FXDD, IBFX shamefully sold out to Tradestation for a mere penny (and Tradestation itself sold to the Japanese). The value of FXCM shares fell to 3 times the offering price.
The CFTC bans Americans from opening accounts with foreign brokers and fines foreign(!!!) brokers. It's only going to get funnier from here on out.
In addition to the risks associated with market price fluctuations, there are risks associated with the activities of a particular broker:
There may be rapid significant price movements with an equally rapid return to baseline, which are not confirmed by independent quotation sources.
In 2007 the US Commodity Futures Trading Commission (CFTC), the US currency market regulator, noted an increase in fraudulent activities in the non-bank FX trading industry. And the primary target of fraud is the private trader. In Russia there is no currency market regulator, but the level of fraud is much higher.
A problematic point may be the mechanism of processing orders for transactions at predetermined prices (order processing), which does not guarantee binding execution of the order.
When a broker goes bankrupt, its clients are more often than not unable to recover their funds from their trading accounts.
Sometimes the fraudulent practices of dealing desks are prosecuted. In the USA courts equate the "promise of constant profit, failure to disclose risks for traders, misappropriation of non-existent titles and approvals" with fraud, and achieve closure of the offending companies, compensation of losses, payment of compensation.[19] Even in offshore zones due to "threat to the national security of the republic and protection of its reputation as a financial services centre" some unscrupulous brokers have had their licenses suspended.[20]
Most often fraudulent schemes are found in the area of trust management of funds in the Forex market. Civil Code of the Russian Federation in the article 1013 does not allow trust management only with money. Because of the lack of reliable information and legal regulations it becomes easy to manipulate the money entrusted into trust.[21] Today many trading platforms have special tools to provide the owner of capital with the possibility of external continuous control of the account, held in trust for the trader, which reduces the possibility for fraudulent actions, but does not reduce legal problems in disputable situations.
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As of July 15, 2011 the restrictions of the Dodd-Frank Wall Street Reform and Consumer Protection Act apply, which prohibits over-the-counter transactions in financial instruments for US citizens (both individuals and companies).
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http://ru.wikipedia.org/wiki/Форекс
The Dodd-Frank bill was introduced in Congress on 2 December 2009 as a response to the financial crisis that began in 2008 and the subsequent recession. The legislative initiative came from the president's administration,
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http://ru.wikipedia.org/wiki/Закон_Додда_-_Франка
Here is another American forex broker sold out, which confirms the trend predicted by Renat:
GFT Forex said Dec. 3 that it was closing its U.S. retail foreign-exchange business. The cost of the approximately 8,600 U.S.-listed foreign-exchange accounts from Grand Rapids, Michigan-based GFT is dependent on future cooperation, which may come in less than a month, Gain Capital Chief Executive Officer Glenn Stevens said in an interview yesterday.
Bedminster, New Jersey-based Gain Capital, which purchased Deutsche Bank AG's retail currency trading business last year, will move customer accounts held at the GFT's U.S. regulated subsidiary, Gain said in a statement yesterday. The transfer is an opt-out process and Stevens expects a more than 90 percent customer retention rate, he said.
Here's another American forex broker sold out,
Hmm, interesting topic inside but quite silly "in the title" :) Lots of banned. In general, the topic is interesting.
I do not understand why some have a prejudice to the MC? What do they have to do with it?
People's traders are dying out. And they will continue to die out. There is a psychology that works here - everything is bad - pessimism - I will not succeed.
Now about Forex, a strange message - that Forex is being closed because it is a fraud. No - I tell you - it's being shut down because it's hurting the economy. No one gives a shit about people making money. No one cares if they are making money - so what does the US government and other countries where the issue is important need? They just want people to put their money in banks and the rest in funds that work on stock exchanges. Banks are money for the economy and stock markets are money for the economy. Money working on the stock exchange is parasitic money - it takes money from the government. But it does not bring any benefit. So if people trade on the stock exchange, the benefit is huge. They are like a lot of smart machines, they invest in companies that can grow. And they don't invest in companies that are going to die. Great - that's what auto-regulation of the economy needs - distributed intelligence. But if people go to forex, they only do harm and there is no benefit to them. :) It's as simple as a 5 kopecks.
What about MT5, IMHO it's not convenient for trading. It's just not convenient, that's all.
As for the stock exchange and MT5 - then probably there is some resistance from our mafia, and the mafia of the United States - this is a serious mafia I tell you - they will not let anyone to their exchanges with their software - because here the information is all - whose software has this information - and who will refuse a guaranteed income. So - you either need a serious sponsor on the exchange in the U.S., or make some special handy software that just make these mafias accept MC through traders.
I think it's just not convenient. As for FXCM, it's the best company now, that guarantees you won't get cheated.
As for the kitchens :)) The bullion market first appeared in the U.S. in the early 20th century, and was already designed for suckers who took a loss. It was the people's plums who were their targets.
So do not expect that if you start to earn on such kitchens they will give you the money - yes, maybe they will give it once, but then they will say do not come again or they will quote you manually.
But if you take FXCM (it's not the only one!) then this is not a gondola - it's just a gateway to the interbank market - they earn by spreading the spread and that's it. And everything happens live - that is, the real quotes - real time. But the kitchens are easy to beat because they have a time lag - and so, they won't give you any money back if you pips.
Not.... - interesting - will this post get taken down or not? :))
Not interested - will this post be torn down or not? :))
why tear it down?
Are you caught up in megalomania, or is it the star of the discoverer that's warming you up?
it's not interesting at all. it's been chewed over.
:))
why tear it down?
Have you caught delusions of grandeur, or is it the star of the discoverer that warms you up?
that's not interesting at all. chewed up.
:))
It remains to be seen which place you understand and which you don't - but not the point. :) Everybody only understands what they know. :)
the first-degree killer? No way - you think that those who strangle Forex do not know why they do it. :)
But we'll see - if they don't take it down, they don't take it down. :) But MT5 will not beat FXCM in the near future. Since MT needs something of its own and these "brokers" need something of their own. They all ask so and so, but MC says - I know better. :)