Broker News

MahiFX is a New Zealand based Forex broker that launched in late 2011. Since then, MahiFX, has launched a variety of enhancements for retail FX traders including the ability to trade gold and silver on its platform, and has provided its account holders with direct access to institutional level execution speeds and spreads.

Binary Options has become such a popular choice for investors that many of its trades hover on the edge of legality. And what may bring in a quick buck, may not be worthwhile in the long run, if you're one to care about the law (or even just financial penalties) coming back to bite you. What binary options, as well as Forex brokers, are now seeing are harmful or "?toxic" order flows. This occurs when traders try to influence prices by taking advantage of arbitrage opportunities or by using methods other than the normal trading protocols, such as placing an order beyond existing market quotes.

Just after announcing its decision to offer Saxo Bank, which acquired shares in the regulated Turkish broker Deger Menkul Degerler in January 2013, and subsequently opened an office in Istanbul.

Shariah law dictates the way in which Muslims should manage their money and stipulates the main rules that Sharia-compliant funds and mortgages must adhere to. Key to Islamic finance is the fact that money itself has no intrinsic value; it is simply a medium of exchange. Each unit is 100% equal in value to another unit of the same denomination and profits as a result of exchanging cash with another person are not allowed. A Muslim is not allowed to benefit from lending money or receiving money from someone. In other words, earning interest (riba) is not allowed for Muslims wishing to adhere to Islamic law. To comply with these rules, interest is not paid on Islamic savings or current accounts or applied to Islamic mortgages. Many Forex brokers provide Islamic Forex, aka Sharia accounts, to enable Muslims to invest their money through their brokerage.

Under new rules introduced by the government on January 31, Forex brokers in Australia will now be required to hold net tangible assets greater than A $500,000, or 5% of average revenue with this amount set to double to $1 million, or 10% of average revenue by January 31, 2014. These stricter regulations have forced online foreign exchange broker FxPro to move its Australian operations out of the country and to merge it with those in Cyprus and the UK. This transfer comes just over a year after choosing Sydney as the base for its expansion into Asia.

Turkish Forex brokerage, Integral Menkul, has joined a long list of global trading companies that have been offering their clients Mirror Trading. Mirror Trading, a social trading platform introduced by Tradency.com, has become quite popular of late by combining traditional trading features with managed social trading capabilities.

The Cyprus Securities and Exchange Commission (CySEC) has begun investigating several Forex Trading Companies regarding rampant accusations of illegal trading procedures. Rumors abound about brokers conducting various types of ponzi schemes and others who have been cheating clients of billions of dollars. To outsiders, it seems that CySEC may be lowballing the fines it imposes on these brokers and taking their sweet time to conclude their investigations, making it that much more worthwhile for them to continue their schemes until their illegalities are uncovered.

The head of the world's nearly 1.2 billion Catholics, Pope Benedict XVI, said that he would be leaving his position at the end of the month, citing failing health and an inability to perform his duties as the reasons for his resignation. Catholics worldwide were shocked; financial markets, not so much.