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Forex, or the foreign exchange market where investors and institutions trade currencies, is the biggest financial market in the world. While forex trading is legal, the industry is rife with scams ...
In August 2008, the CFTC set up a special task force to deal with growing foreign exchange fraud. [3] In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on "a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer ...
This regulation requires that all deposits be maintained separately from the broker’s bank accounts. Reporting and disclosure - These rules insure the broker’s clients are well informed of the status of their account and the risks associated with FOREX products. Leverage limits - These limits ensure clients maintain an acceptable risk level ...
The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain.
Pricing: Forex brokers have two ways to price their services: by baking the price into the buy-sell spread or on a commission basis. Spreads are typically quoted in pips, or one ten-thousandth of ...
FP Markets was awarded Best Global Forex Value Broker for five years in a row (2019-23) at the Global Forex Awards. [ 18 ] [ 19 ] On 12 May 2020, FP Markets was named as the Forex and CFDs broker with the Best for Quality of Trade Execution in 2019, which was announced in the internationally recognized Investment Trends 2019 Australia Leverage ...
Retail forex trading has been promoted by some as an easy way to make profits and has thus been the focus for a number of foreign exchange frauds. [9] In response, financial regulators in a number of countries have introduced restrictions or provided warnings about this type of trading as well as legal actions against perpetrators. [10]
A non-bank foreign exchange company also known as foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies.
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