Simple Forex System Trading

Once again, always checks with CFTC or NFA to make sure that your prospect brokers are registered.  Useful links:

CFTC Education Center

NFA BASIC – Broker Registration Status

The U.S. Commodity Futures Trading Commission disclosed Thursday charges against two businesses in Colorado and Nebraska that allegedly ran separate schemes to defraud customers of at least $5.9 million.  The CFTC complaint filed Wednesday alleges Reisinger and her firm, ROF Consulting LLC, took about $4 million from trading pool participants between 2005 and 2009.  Neither registered with the CFTC as commodity pool operators, the commission said.  The agency also said Shawon McClung of Denver and Flint-McClung Capital LLC of Englewood, Colo., illegally ran an off-exchange foreign-currency Ponzi scheme that never conducted any of the trades it purportedly offered.

via UPDATE: CFTC Charges 2 In Colorado, Nebraska Over Alleged Forex Fraud – WSJ.com.

Once again, choose your broker wisely.

The CFTC announced that it has filed and settled charges against Mark Adrian related to foreign exchange (“forex”) trading fraud.  The Florida-based forex trader has been ordered to pay a large civil monetary penalty, and is banned from trading on behalf of other people or registering with the CFTC in the future.

 

 

@ http://www.cftclaw.com

 

It is amazing how people are still being sucked into the currency trading scam and losing lots of their hard earned money.  This one reported on forbes demonstrates how important it is to do your research before investing.  Start with http://www.nfa.futures.org/basicnet/ and http://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm.

Big boys are always big boys.  Wall Street: Money Never Sleeps sums it up best.

Goldman Sachs lost money from trading on only 25 days during 2010. In 2009, they lost money on only 19 days, according to a new regulatory filing. This occurred despite no evidence that they are better economic or stock market forecasters than other Keynesians, who are usually way behind in detecting key trend changes. How do they do it?

Here’s where most certainly some (maybe a lot) of the profit likely has come from.

Goldman is a Primary Dealer. This means they are one of a select group of trading firms that are allowed to trade directly with the Fed.

@ economicpolicyjournal

Leading Swiss Forex Broker MIG BANK Obtains Securities Dealer License
— MIG BANK, the first Forex broker to have obtained a Swiss
banking license in December 2009, has announced today it has been granted the
Securities Dealer Licenseby the FINMA, the Swiss Financial Market Regulatory
Authority. Since its foundation in 2003, MIG BANK has been offering online
Forex trading services to private and institutional clients and has become,
within a short period, one of the global leaders in the area of online Forex
trading.

@ sys-con