5 Responses to “New bill means though times for retail FDM’s”

1. on 21 Jan 2008 at 5:02 pm1BeeR

   This is fantastic, I stooped trading FX do to the nature of the firms behaviors, if this bills go’s through I’m back in.

   Thank you for bringing this forward.

2. on 21 Jan 2008 at 5:26 pm2FRiverola

   Hi BeeR

   Yes, this is serious and will really affect the whole industry.

   Francesc

3. on 22 Jan 2008 at 1:00 am3Scott Kuehne

   While this may help clean up some of the few Forex Dealer members left in the U.S. sadly it pretty much ensures that the more honest ones go out of business. Only those who have pocketed enough of their client’s money over the past ten years will be able to meet the new capital requirement. Since the firms who are only making a pip on the spread and not trading against thier clients full time have a much smaller profit margin.

   On the other hand the second section of the bill is quite encouraging as it aims to stop market cornering in spot markets and give people an idea of what the big dogs are doing in the markets. This way the actions of big players (mainly banks) may come to light and some of their more nefarious plans come to a halt.

4. on 22 Jan 2008 at 1:28 am4BeeR

   I have found more info to this new bill at other forums, below:

   NFA President urges House Subcommittee to address forex regulatory issues in CFTC reauthorization bill
   Intro http://www.nfa.futures.org/member/newsLetter2.asp#Testimony
   Full version http://www.nfa.futures.org/news/newsTestimony.asp?ArticleID=1968

   NYMEX Supports CFTC Reauthorization Act of 2007
   http://www.marketwatch.com/news/story/nymex-supports-commodity-futures-trading/story.aspx?guid=%7B3DA9C89B-E283-4376-97D1-090D7CF42CB4%7D&dist=TQP_Mod_pressN

   forexfactory thread discussing this topic found here
   http://www.forexfactory.com/showthread.php?t=66052&page=2

5. on 22 Jan 2008 at 2:08 am5Shety

   It’s about time CFTC!!! This dam industry has been run by crooks and the bigger they are the worse they seem to be. Learning about this new bill today sent a joy I haven’t felt in years, you see I’m one of the unlucky guys to have been gullible enough to think just because a firms heavily capitalized I was dealing with a safe firm, guess what, No more then 6 months with my first firm coesfx/spotfx they debunked and left my money in limbo for over 7 months, then right after I was also lord into the FXLQ clan on the falsified caps and is now were my 200k still remains in lobo while CFTC traces down were this crook shifted it offshore. get this industry in the hands of the fuly copadent regulated banks and broker dealers and out of the crroks.

   in

   To scoot I understand were your coming from but to leave this market open to anyone with 5m and current regulation emplace is insane, we need reform!!!

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