Retrieved May 8, FXCM, Niv, and Ahdout agree to withdraw from CFTC registration; never to seek to register with the CFTC; and never to act in any capacity requiring registration or exemption from registration, or act as a principal, agent, officer, or employee of any person that is registered, required to be registered, or exempted from registration with the CFTC. Retrieved 20 January Send to a friend Newsletter signup. This means end-clients rely heavily on the price quoted by the counterparty acting on their behalf.
The US Commodity Futures Trading Commission (CFTC) has just issued an order against Forex Capital Markets, LLC (NASDAQ:FXCM), settling charges with the foreign exchange brokerage for $7 million in a civil monetary penalty .
Firm to Pay $16.7 Million to Settle Allegations of Withholding Profits From Clients
A firm must pay due regard to the interests of its customers and treat them fairly customer interest - principle 6 A firm must deal with regulators in an open and cooperative way, and must disclose to the FCA appropriately anything related to the firm of which the FCA would reasonably expect notice relations with regulators — principle FXCM UK will contact customers who no longer hold an account to notify them that their accounts have been temporarily reopened for these purposes.
Any unclaimed funds will be passed to the FCA in addition to the fine. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: Find out more information about the FCA. Was this page helpful? Copy service of the traders deals. Retail sales report is the last hope for the dollar The greenback dropped dramatically following the dismal inflation numbers on Thursday. Gold supported by trade talk hopes Gold prices show indecisive price action on Thursday as the greenback has been consolidating either.
EURUSD could be hit by ECB The euro reversed its gains from the start of the week and turned lower on Wednesday, despite there is no evident risk aversion in the markets and the dollar demand is rather subdued.
GBPUSD may have a turbulent week Pound has staged a short-term spike following the better-than-expected Q2 DGP report, but failed to sustain gains as the manufacturing and industrial production disappointed. Dollar may yet regain strength The greenback declined dramatically against the yen overnight and remains unattractive for buyers on Friday.
Forex trading with Capital Markets Capital Markets is a cutting-edge ECN broker, providing you with direct access to financial markets. First Steps Trade online from anywhere in the world with internet access. Critics of the industry state that few retail traders have the experience to make money trading forex.
From Wikipedia, the free encyclopedia. Commodity Futures Trading Commission. Retrieved September 14, Retrieved May 18, Retrieved November 21, Retrieved December 13, Retrieved April 16, Retrieved April 23, Retrieved May 25, Retrieved February 23, Retrieved February 24, Retrieved February 26, Retrieved April 17, Retrieved February 7, The New York Times.
Retrieved 10 October Retrieved July 28, Retrieved May 8, Retrieved May 7, Retrieved Dec 10, Securities and Exchange Commission. The Wall Street Journal. Retrieved May 4, Retrieved April 26, Retrieved March 14, Retrieved 16 January Retrieved 20 January Retrieved 6 February Retrieved March 4, Retrieved April 14, Retrieved April 28,
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Forex trading with Capital Markets Capital Markets is a cutting-edge ECN broker, providing you with direct access to financial markets. We offer favorable trading conditions, a wide range of trading instruments, innovative software, and professional expertise in building investment portfolios. February 6, CFTC Orders Forex Capital Markets, LLC (FXCM), Its Parent Company, FXCM Holdings, LLC and FXCM’s Founding Partners, Dror Niv and William Ahdout, to Pay a $7 Million Penalty for FXCM’s Defrauding of Retail Forex Customers. FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker, now run from London after being banned from United States markets for defrauding its customers. Its former parent company, Global Brokerage, .