Help!!! US Traders, We Must Stand Up and Fight
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Thread: Help!!! US Traders, We Must Stand Up and Fight

  1. #1
    Hi all,

    This thread is dedied to finding a solution to enable US citizens to enjoy the same trading freedom as the rest of the civilized world. I am not sure how to achieve this, therefore I am hoping.

    I have been trading offshore for many decades, but that is becoming more and more difficult as well as they're now shutting down payment chips and several of the very best choices have pulled from the US lately.

    Our situation has become beyond ridiculous. I am not speaking of the leverage, no hedging or the FIFO rule. What I am talking of is:

    1. No true ECN/DMA broker accessible. This is absurd. The NFA/CFTC are supposed to be the most demanding labs on the planet, however they allow the 3 market maker brokers to get away with basically everything they wish. Freezing platforms, rejected orders, arbitrary price spikes, etc.. After GBP crashed, my ECN broker did not skip a beat while OANDA froze their platforms. This was done so anybody could not reserve their profits while everybody got crushed. How can we have demanding regulations and they do not see the requirement to remove table desks and price manipulation. Where the other party controls the software we are trading with a conflict of interest.

    2. Safeguard our funds. UK does, Australia does. Here in the US, the regulations prohibit it. If the brokers desired to segregate our funds, they're not allowed to. How does this protect the trader?

    3. Permit us to exchange with these brokers who protect our funds. If they're so worried about protecting us, why do they not understand how much better off we'd be trading with a nicely broker in the united kingdom or Australia where our funds are secure than the choices presented here in the US.

    4. Stock and metals indices. Can't I exchange gold or silver, the DAX or the DOW? Everybody else on earth can.

    5. Going back to leverage, hedging and FIFO. Although these could be worked around. 200:1, although I just do it in situations, FIFO is just plain dumb and hedging, even 100:1 would suffice, it does allow you to recover positions when used.

    The problem is we're sitting back and accepting it. I mean when your actually look at the horror stories behind the 3 choices here in the US, you have to be oblivious or addicted to be trading together.

    So what can people do, open floor, everybody chime in, even non US residents, although it doesn't affect you, in case you have some great suggestions, let us understand!!

    Looking forward to hearing from everybody.

  2. #2
    Quote Originally Posted by ;
    quote Foreign Exchange market is not a regulated market anywhere on the planet.
    In major financial centres around the world, retail Foreign Exchange is regulated by many of the same government bodies that manage other financial markets. By way of example, in the US, the CFTC and NFA regulates us. Furthermore, in compliance with rules regarding price slippage and price re-quoting that were finalized in 2012, retail Foreign Exchange brokers in the united states offer daily trade reports to the NFA which tracks and supervises our activity including information regarding the price where all of customer orders are filled and the corresponding price in which those orders are offset with our liquidity providers.

  3. #3
    Http:// equal of breaking up the furniture to throw from the fireplace to prevent freezing to death in the winter. Can FXCM exist in five years?

  4. #4
    Quote Originally Posted by ;
    quote Great discussion, PM! While there seems to be some pessimism here about the options that remain for US forex traders, there are reasons. We have seen spreads industrywide come down dramatically, and in which dealing desk execution was the only option before, there are now options such as No Dealing Desk (NDD) forex execution. Sharing my perspective as both a retail forex broker and a retail forex trader, I believe it's important we as members of the US retail forex community work together opposition. This...
    I apologize Jason but, progress will only be produced if and when the US gvt stops meddling in the lives of their middle class.

  5. #5
    The service is loved by to start with, jason, but until they pick up their stock value, Im going to be worried about fxcm. I mean, it dropped to 7.35, I've seen it out of $150 dollars fall down to 7.35?? With that logic I need to keep my blockbuster card... lol seriously tho hope you guys can remain in operation

  6. #6
    Quote Originally Posted by ; equal of breaking up the furniture throw from the fireplace to keep from freezing to death in the winter.
    FXCM strongly believes in the worth of eduion, trading tools and resources, thus we take great pride in getting built into one of the most popular forex news portals. ( show it is ranked 4th in the world concerning forex sites ahead of Fxstreet, Babypips as well as FXCM itself.) While we believe DailyFX will continue to be a resource for traders, it isn't a crucial part of the company. FXCM's priorities would be to repay the Leucadia loan and focus on our core business which executed $875 billion in retail customer trading volume.

  7. #7
    1 Attachment(s)
    Quote Originally Posted by ;
    Can FXCM exist in 5 decades?
    Quote Originally Posted by ;
    jason, to start with love the service, but Im definitely going to be worried about fxcm till they pick up their stock value. I mean, it dropped to 7.35, I've seen it from $150 dollars drop down to 7.35?? With that logic I need to keep my blockbuster card... lol seriously tho hope you guys can stay in operation
    While I'm not licensed to comment on our stock personally, I will refer you to remarks from our CEO Drew Niv in an

    Financially, we lost $300 million after which we got $300 million from Leucadia, so by Monday 19th of January, the business was fine concerning balance sheet. Because were a venue it's possible to observe that our stock is part of what it had been, but people will need to understand that the size of this pie hasnt changed, its only that the ownership of that pie has. Hence the stock implies that the legacy shareholders of FXCM have a bit of the company and Leucadia possesses a much bigger piece, although the final determination on that will be produced later this year after we've divested the assets were selling. This is all about the economics into the owners of the company, it has nothing to do with clients.

    We have always stated our strategy is to pay back the loan with proceeds from the sale of non-core resources:

    Drew is quoted in another article reaffirming our commnt to the strategy to settle our debt:

    FXCM together with discontinued operations, had $236 million in operating cash as of 3/31/16. We currently consider in the egy we have laid out regarding asset sales to pay off our debt. Clients of FXCM are secure and should understand that we are protected and remain a market leader with some of the execution and technology in our industry. We generate enough cash to make our interest payments and all client money is protected. As we have stated before it is going to take years for shareholders to find any returns. Our priority is to repay our debt.

  8. #8
    Quote Originally Posted by ;
    quote I apologize Jason but, progress will only be produced if and when the US gvt stops meddling in the lives of the middle course.
    That is even more reason for US traders to reach out to our regional agents and let them know what is most important for us when it comes to retail forex.

  9. #9
    Quote Originally Posted by ;
    quote FXCM ardently believes in the worth of eduion....
    Good Luck Brother, will the Great Pumpkin smile down upon you and the rest of us poor speculators.

  10. #10
    Quote Originally Posted by ;
    quote...a safer route for institutional liquidity providers to take is to quote smaller dimensions at broader prices to minimize margin of error of being picked off.
    FXCM's NDD forex execution helps address those concerns. Since our liquidity providers are permitted to be price makers, not price takers on our retail client flow, each liquidity provider can provide pricing and liquidity without fear of another liquidity provider. This creates the environment in which liquidity providers are better able to provide quality pricing and...
    Though I am unaware of the current volume numbers at LMAX Exchange, do this (what you've written about predatory surroundings vs. quality pricing and high liquidity) be a reason for this the volume at LMAX is smaller than at FXCM? Cause I am not sure, if smaller at all.

    Is volume (much) bigger at FXCM compared to LMAX (or alternative venues for that matter)?

    Any remark regarding this?

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