Regulator's clear message to brokerage CEOs – you are ultimately responsible for customer funds. The CFTC, in one of its strongest worded statements we've seen, has brought a civil action against former MF Global CEO Jon Corzine, as well as former Assistant Treasurer Edith O'Brien for the $1 billion in client funds which were missing when…
Read moreX Financial drops the '3' from X3 to just become X Open Hub, adds four new forex technology partners. The arms race among leading Forex platform providers seems to be centered on opening the platform to third party best-of-breed forex technology developers. Just a week after we reported that Leverate was opening an appstore for…
Read moreXM.com is the second two-letter domain name purchase this month by a major online broker. Cyprus-based online trading group Trading Point, whose brands include forex broker XEMarkets and affiliates and IB partner program PipAffiliates.com, has announced that they have acquired the two-letter domain name XM.com. And, based on a quick visit to the XEMarkets.com website,…
Read moreStill unclear what exactly will happen to Knight Capital Forex ECN unit Hotspot FX. Equity market makers Knight Capital and Getco have announced that shareholders of both entities have overwhelmingly approved the merger of the two companies at separate votes held today -- the last formal hurdle to closing the transaction. Unless something strange happens,…
Read moreVPS is becoming popular among leading brokers, to bring requisite low latency and always-up service to automated MT4 traders. Leading forex industry broker FxPro has announced that it is partnering with BeeksFX VPS to offer a new VPS for MT4 service. VPS (see explanation below) is essential for forex traders who prefer to use automated…
Read moreThis is the first time NYMEX Brent volumes surpassed 65,000 contracts at the CME. CME Group, which runs the world's largest derivatives marketplace, announced it has reached record volumes in NYMEX Brent trading, with 65,065 contracts trading hands this past Monday (June 24). This is the first time NYMEX Brent has surpassed 65,000 contracts, and shattered the…
Read moreVarlesi's Gold Coast Futures and Forex used just $220,000 of the $1.7M he accepted from clients to actually trade. The CFTC has obtained a federal court order against Christopher Varlesi of Chicago and his company Gold Coast Futures and Forex, requiring Varlesi to pay $1.3 million -- $638,000 to defrauded investors plus a $700,000 penalty. The…
Read moreSaxo Bank's Tour de Trading competition includes TV spots and Alberto Contador's actual Tour de France bike. In our latest in a series covering interesting and unique promotions in the forex trading world, we look this week at Saxo Bank, and its Tour de Trading promotion. Even among die hard cyclists and bicycle enthusiasts (including…
Read moreBitcoin trading on Mt Gox halted due to server problem. Adding to its woes of late, which include Mt Gox suspending US dollar withdrawals, leading Bitcoin exchange Mt Gox suffered several hours of downtime early Monday, following a server error. Mt Gox attributed the server problem --which they admitted 'should not occur' -- was due…
Read moreBitcoin prices have lost their wild volatility swings, encouraging more Forex and Binary brokers to think seriously about Bitcoin trading. Binary options broker SetOption has announced that it is launching Bitcoin trading for clients. Not much more information was given, other than that is will be BTCUSD trading. SetOption runs SpotOption's binary options trading platform. SpotOption…
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