who said there was a problem?...fill your cup to the half full mark will ya?

^LOL. I didn't even know that IBFX offer 400:1 account. I guess that's more interesting to me than the 30 mil requirement since that is a non-issue.

I can't seem to keep my cup half full, I keep drinking from it.

__________________
Life is a Gamble. You win some. You lose some. And life goes on.

I think both of these rules are great additions. No adjustments are a no-brainer. And hedging is just the lazy man's way of stopping the bleeding, when they could have easily closed the trade. Anyways, thanks for the update, much appreciated to see what the NFA is up to. Seems like they are moving closer to what it is in the futures market. I'm already used to these kind of rules from Interactive Brokers, so it's not a big sea change for me.

__________________
Life is a Gamble. You win some. You lose some. And life goes on.

The proposed rule would not prohibit customers from
pursuing long and short-term strategies in separately margined accounts (Page 8) http://www.nfa.futures.org/news/PDF/...Adj_112408.pdf

Thank you NFA....thank you again....



In reviewing the data submitted to NFA as well as from the on-site
examinations, NFA found that—from May through September—thirteen FDMs adjusted
prices after the fact. Only eight of the thirteen FDMs cited erroneous prices from their
liquidity providers as a reason for adjusting prices. Even for these eight, the vast
majority of price changes reported by seven of them had nothing to do with their liquidity
providers.

Most of the adjustments were due to factors such as stale quotes
generated by the FDM’s own matching system, unfilled orders due to technical errors
with the FDM’s trading platform or the customer’s front end system, erroneous prices
being entered by the FDM’s traders, and system connection issues arising from the
FDM’s use of two or more different trading platforms. There goes the IBFX smoothing algorithm

Better Day's coming


YouTube - The Hooters - 500 miles

Amen to that! Great video, too! I have sometimes wondered if the biggest risk in Forex trading isn't the market itself, but the lack of broker integrity. You've got to trust them and they've got to earn that trust.

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Success is more perspiration than inspiration . . .

nice one Savant!

After years of fraud and malfeasance perpetrated by Bernie Madoff style Swiss forex brokers the retail forex business in Switzerland is on the verge of going legit as all Swiss brokers must either get a banking license or close up shop. However, these changes are still months away and thus many Swiss forex brokers continue to operate without a license.

But the good news is that the legit brokers are making themselves known. MIG Investments has just issued a press release stating that they have formally submitted their banking license application to the SFBC. This is no small feat and MIG should be congratulated on taking this first step:
MIG Investments SA - Press Releases

Other Swiss brokers are moving in the same direction as well. However, one broker may be hitting a road block; Crown Forex. A disturbing report over at Forex Peace Army indicates the broker appears to be having difficulties making good on customer withdrawal requests

Now it should be noted that Forex Peace Army isn’t exactly The London Times and thus this report comes with a pretty big grain of salt. Forex Factory has since dumped the thread into the recycling bin:

Extracted Post (promotion)

Crown Forex has been notified about this report and been given an opportunity to respond by Forex Factory and rest assured their response will be included on this thread once it is given. Also, Crown Forex has announced that they plan on having 15 million Francs on hand to meet the SFBC’s capital requirement according to this recent press release: Francesc’s Weblog Crown Forex increases its Share Capital

But the numerous instances detailed in the Peace Army report about Crown Forex not making good on customer withdrawals is very troubling and something traders should be aware of.

Again, the Savior’s advice is to wait until these brokers actually gets their banking license before opening an account with any broker based in Switzerland.