Author Bio

As you may have read in the press release, Currensee is one of the charter members of IBcoalition.org, a group of independent Introducing Brokers united to fight a proposed rule change by the CFTC that threatens our businesses and our ability to serve our customers.  As CEO Dave Lemont and Co-Founder Asaf Yigal have blogged before, Currensee opposes proposed CFTC regulations that would reduce Forex leverage to 10:1 and force Introducing Brokers (IBs) to align themselves with just one Forex broker.  IBcoalition.org is focused on the latter issue:

The IB Coalition recently submitted a 10-page letter to the CFTC and, among other points, suggested the following changes to the proposed rulings

• First, the IB Coalition urged the CFTC to revise the proposed rules to permit a Forex IB to operate either as an independent IB subject to the same minimum capital requirements that apply to a futures IB or as a guaranteed IB.
• Second, the IB Coalition asked the CFTC to undertake a study of the retail Forex markets to assure that the rules it ultimately adopts are based on a solid factual understanding of the markets and are tailored accordingly.
• Third, the IB Coalition proposed the CFTC defer to NFA to set appropriate leverage restrictions as it relates to the proposed 10:1 leverage. An onerous leverage restriction, such as this, creates opportunities for unregistered fraudulent schemes to exploit U.S. customers is contrary to the public interest.

If you’re an independent IB in the US or just an interested party – everybody who trades Forex in the US or has a Forex-related business that does business in the US is potentially affected – please visit IBcoalition.org to learn more about the issue and make your voice heard.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

I am happy to announce that we’re the first and only social network to have an agreement with OANDA to properly support their traders via direct and real-time API access. We’ve had overwhelming response from OANDA traders who want to join Currensee but couldn’t…until now.

Starting today, OANDA traders can join Currensee for free, link their real Forex trading accounts and enjoy all the benefits that we provide our traders – sharing real positions in real time with other community members, leveraging the strategies to create an electronic trading journal, tweeting trades in real time, using social indicators to make more informed decisions and other free features. As Paul Jeszenszky, the Head of Marketing at OANDA said:

“OANDA believes Forex traders benefit from the power of online communities and open access to information. Currensee has shown a commitment to both and we’re glad our clients now have access to their platform.”

OANDA provides a transparent and very innovative service to their traders and we’re happy to have them join the Currensee revolution as a partner. We welcome OANDA traders to join currensee today at www.currensee.com/oanda.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

Last week, Interbank FX announced that they are now providing their traders with an option to receive their commissions/dividends on a reloadable Payoneer Interbank FX global debit card, instead of paper checks or wire transfers.  They are one of the only brokers to offer a convenience feature such as this and it speaks directly to what consumers want…access to their cash now.

Marilyn McDonald, Vice President of Customer Experience over at IBFX says: “At Interbank FX, we feel customer satisfaction is an essential ingredient in keeping our traders happy,” said Marilyn McDonald, vice president of customer experience at Interbank FX. “By letting traders withdraw their margin sooner, Interbank FX is enhancing the experience of trading with us.”

By choosing the Interbank FX prepaid debit card payment option, Interbank FX traders gain speedy payment and greater convenience by uploading their margin accounts onto their Payoneer Interbank FX MasterCard®  – anywhere Debit MasterCard is accepted, regardless of country or currency. This is a great option for customers globally who may not be able to cash a US check or don’t want to pay the expensive fees of a wire.

Focusing on what the customer wants is something that seems easy to do but can often take time and effort. Marilyn talks about how this was something they’ve been trying to do for several years in her blog post about the launch. It took them two years and, I’m sure, lots of hard work and perseverance given all the regulations and complexities that come with Forex and banking – especially internationally. Well, Marilyn and team, great job in putting the customer first and finding a way to create convenience and access with a superior payment option.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.