Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage forex brokers reviews creates additional forex brokers list risk and loss exposure. Before you decide forex brokers reviews to trade foreign exchange, carefully forex brokers list consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not forex brokers reviews invest money that you forex brokers reviews cannot afford to lose. Educate yourself on the risks associated fxcm with foreign exchange trading, and seek advice from fxcm an independent financial or tax advisor if you have any questions. As part of the settlement offer, FXDD agreed oanda to pay restitution in the amount of $1,828,261 to FXDD customers, who experienced unfavorable price slippage on “limit-fill-or-kill” trades placed in their accounts from December oanda until June fxcm. Furthermore, FXDD will pay a fine of $1.1 million, of which oanda is attributable to FXDD’s unfavorable oanda price slippage practices. In a related action taken by the Commodity Futures Trading Commission, FXDD will pay fxcm an additional penalty of $914,131 to the CFTC. The NFA most certainly has its regulatory eye on FXDD, and in scrutinizing its corporate procedure, imposed a $75,000 fine on the company’s chief compliance officer, James E. Green, earlier this year, holding him fxcm personally responsible for the aforementioned forex brokers comparison irregularities in the company’s Anti-Money Laundering procedure, further demonstrating that the regulator is intent on prosecuting not just the firm, as per the case against FXDD itself, but oanda also the individuals charged with the responsibility of overseeing such compliance procedures, and fxcm issuing further penalties against compliance personnel. Subsequent to the case, according to the NFA, FXDD neither admitted nor denied the allegations against it. With regard to the CFTC Order, similar to the charges imposed by the NFA, FXDD used asymmetrical oanda slippage parameters on its principal trading platform, meaning that the system favored FXDD over its customers in slippage situations. Based on these parameters, FXDD rejected a alpari customer’s order when the price slipped more than 2 pips in the customer’s favor (and instead re-quoted the customer the new, less favorable price), but filled a customer’s order at the oanda original price if the price slipped in FXDD’s favor by forex brokers comparison more than 2 forex brokers list pips. As a result, FXDD benefited from slippage of more than 2 pips in its favor between order placement and order forex brokers comparison execution, but did not allow its customers to benefit from similar price changes in oanda their favor. The CFTC Order further finds that had FXDD employed an adequate supervisory system, and diligently supervised its personnel, FXDD would have discovered these problems with the integrity of trades on the platform, and forex brokers comparison would have had the opportunity to correct them before forex brokers list more than 24,900 customer accounts were deprived of $1,828,261. David Meister, the CFTC’s Director Enforcement, made a public statement today on fxcm behalf of the US regulator saying, “Those who offer forex trades to the retail public must do so fairly. Trading platforms that are secretly designed to favor the house more than the customer are not only unfair, they also violate a firm’s supervisory obligations.” FXDD subsequently made a statement regarding the outcome of the case, explaining that the company has reached a settlement with the NFA fxcm and the CFTC regarding asymmetrical price slippage parameters experienced as a forex brokers comparison result of “limit-fill-or-kill” trades, executed between December 10, 2009 and June fxcm. The company further explained that the settlements are intended to provide restitution for FXDD customers of $1.8 million, representing an average of fxcm per impacted account. In forex brokers comparison reaching the settlement, FXDD maintains that it does not admit nor deny any of the allegations set forth by the NFA. The company concluded by explaining forex brokers list that it had enhanced its slippage parameters to provide its clients with an improved trading environment during the summer of 2011, and believes that it acted in the best interests of its customers with regard to the forex brokers list settlement.
Posted on: Sat, 05 Oct 2013 04:43:24 +0000
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