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Follow on Google News | NFA levies $2 million fine against FXCMFollowing large fine from the NFA, FXCM's inclusion in LeapRate's Approved List under review
By: LeapRate LeapRate has now decided to review FXCM's inclusion in our Approved List of Forex brokerage firms, due in part to: · this fine, one of the largest ever levied against a major Forex firm in this context, although as part of the settlement FXCM neither admitted to nor denied any of the allegations, · another $140,000 fine levied against FXCM by the CFTC earlier this month relating to repatriation of accounts held by US residents at FXCM UK, and · FXCM's continued low rankings among US firms in client profitability, as reported by Forex Magnates (by our calculations, just 24% of US clients at FXCM were profitable over the past year, versus a 28% industry average). A final decision in this regard will be made in the coming weeks. For more details, including links to the original NFA complaint and decision documents, please see the Forex Industry News section of our website at http://www.leaprate.com. Get LeapRate news updates first! Follow us on Twitter at http://www.twitter.com/ # # # Which Forex firm should I trade with? LeapRate's Approved Forex Firms list can help you answer that question. LeapRate is an independent research and advisory firm, covering the world of online Forex and CFD trading. Our Approved Firms list highlights Forex firms which in our view do things right – in terms of adherence to proper procedures, regulation, custody of cash, quotes to clients and risk management techniques, among others. LeapRate is followed by thousands of investors and other Forex industry participants via Twitter, email, and our website at http://www.leaprate.com End
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