Why Retail Forex is Heading to the Cliff?

Just read…. It’s a month old piece of news but still relevant.

What’s going on with the FX industry?

Five years ago there still were strong talks that FX could become an asset class. That means that it would be accepted for the mainstream as another financial market.

To become an asset class, the industry had to work harder to stop being seen as a fraudulent money taker but a serious place where you can safely speculate your spare savings.

The truth is that the industry has taken the opposite direction. And what’s even worse, it has gotten so close with Binary Options, that now they look the same.

Don’t you see that binary is an industry that will be banned from the face of the earth very soon? Don’t you see that an industry where most of its players are fraudulent has no future?

Do you really want to be like them?

What are you doing then? What’s wrong with you?

Shame on you guys!

Francesc

 

Judgment Day inches closer for Israeli binary options firms
Handful of founders and employees arrested on suspicion of tax evasion, for holding vast sums of black money in offshore accounts; tax authority expects more arrests
By Simona Weinglass and Raoul Wootliff October 11, 2016, 4:34 pm

For Israelis who work in binary options, there may be a lot to ponder this Yom Kippur as arrests begin and the Israel Securities Authority declares that a crackdown on fraudulent firms is a “national priority.”
Israel’s Tax Authority announced on Monday that two men, Haim Toledano and Saar Pilosof, have been arrested on suspicion of hiding millions of shekels from tax authorities through the use of offshore shell companies.
Toledano and Pilosof were arrested around two weeks ago but their identities had been an under a court-imposed gag order which was lifted on Monday.
In Israel’s corporate registry, Toledano is the director of Toyga Media Ltd., formerly known as UFX Ltd., which is housed in a large building on Tel Aviv’s Hamasger Street. Hundreds of employees there call customers abroad on behalf of the UFX and Ubinary trading brands. UFX offers forex trading while Ubinary offers binary options. UFX and Ubinary have been the subject of investor warnings from regulators in Canada and Australia, respectively.

 

Metaquotes Turns 16…. Happy Anniversary Guys!

Hi everyone

A couple of months back I found out that our friends at Metaquotes Software Inc – creators of the worldwide famous trading platform Metatrader (MT4) – were celebrating their 15th anniversary. So I decided that I should write a blog piece to congratulate them for their tremendous success as in these fifteen years no one in the industry has been able to achieve such a success story as theirs. Of course, there are others richer and stronger, but if we talk about “success”, I modestly think that they are the winners. No discussion.

I’ve always been a guy that does not remember anything, but the closer I am getting to turn 50 – oh my god! – the memory losses are becoming more and more frequent, so I forgot to upload the blog post before the year expired. Now that we are already in 2016, allow me to be the very first one to congratulate Metaquotes for turning 16!!!…. Congratulations guys! :)

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Citi and Deutsche Bank Dominating Forex Market in 2015

Interesting…..

Francesc

 

CITI AND DEUTSCHE BANK DEADLOCKED ATOP GLOBAL FX MARKET
Greenwich Associates Announces 2015 Share and Quality Leaders in Foreign Exchange
Leading FX Dealers Cede Market Share to Rivals

Thursday, March 12, 2015 Stamford, CT USA — Citi and Deutsche Bank top the list of 2015 Greenwich Leaders in Global Foreign Exchange.

These  two firms are deadlocked atop the global FX market, with market shares in trading of 11.6-11.7%, according to a report released today by Greenwich Associates. UBS and Barclays are next, tied with market shares of 10.0-10.2%. J.P. Morgan rounds out the global Top 5 with a market share of 7.4%. These firms are the 2015 Greenwich Share Leaders in Global Top-Tier Foreign Exchange Market Share.

Among the leading dealers, J.P. Morgan stood out in 2014 for gaining market share, a feat that narrowed the gap between the bank and the four traditional global FX leaders. Citi was also notable for maintaining stable market share from year to year. Bank of America Merrill Lynch posted the largest gain in market share this year.  BNP Paribas and Goldman Sachs also gained meaningful share.

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Qubitia Finalist at The Technical Analyst Awards 2015

Awards5

Hi everyone
Our partners and friends at the Galician start-up Qubitia Solutions – institutional algorithmic multi-market trading platform flowchart – received last week an incredible news as they have been nominated finalist to the Technical Analyst Awards 2015 under the category of:  Best Automated Trading Product: Strategy Development

The finalists for this category are: CQG • Deltix • FXone• Lime Brokerage • Qubitia Solutions • Tradesignal
Winners will be announced at the Awards Ceremony, taking place at the Le Meridien Piccadilly Hotel in London on 23 April 2015.
I want to congratulate our friends and partners at Qubitia Solutions for this very important nomination. The nomination is very deserved as these guys are doing a terrific job by trying to bring the best flowchart algorithmic solution ever existed to the institutional financial world.
Also, Qubitia has been developing a project with us – soon to be launched – that will dramatically increase the quality of FXStreet’s Forex news feed.
Stay tuned!
Keep up the good work guys

Francesc

SocialWin FX Report – ForexLive and FXStreet The Best Performers on Twitter

Hi everyone

At the end of April 2014 we took a minor 5% stake in the promising and fast growing Barcelona’s start up SocialWinapp. The company is led by two brilliant guys Encarna Segura and Thomas Bartczak.

A few weeks ago I asked Encarna if they could prepare a report for me about how well FX players were doing on Twitter. I asked them to track separatedly FX informative sites and brokers. Yesterday I received the report about FX informative sites and the brokers report will follow in the next few weeks.

In July 2014, FXStreet was listed 1st in Bloomberg’s Twitter Social Media List for FX Markets.

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Traders Vandalize Booths of GWFX and 24k.hk at Shanghai Money Fair

this is not good at all!!!!!

Authorities must act against these firms that play with prices to rip clients off, not to act against the industry. They must clean the industry.

Come on!

Francesc

» Read more…