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Although the Chinese government has long been characterized as a restrictive regime, the country's State Administration for Foreign Exchange (SAFE) has just announced that as of June 11, 2012 Chinese financial institutions will be permitted to carry out Forex swaps without exchanging principal, as was required since 2007. Eliminating this requirement to swap the principal in Forex trades will lower the cost of each transaction which should hopefully increase the overall volume of trades and open up the foreign exchange market to an entirely new market.
The prisoner's dilemma could well be applied to the Eurozone these days. For those not familiar with it, a brief introduction is in order: The prisoner's dilemma is a concept in game theory which suggests the following scenario where people cooperating would likely do well for themselves, but they might not do so anyway:
The National Futures Association, the regulatory body for Forex brokers in the United States, already had a reputation for being the strictest regulatory agency in the world, but the agency is continuing to support this reputation by continuing to propose regulation that will crack down on futures commission merchants (FCMs) dealing with client segregated funds.
Cyprus has long been a hotbed for Forex activity, with a high percentage of brokers regulated in the country by CySEC and a similar number of brokers housing their main offices in the island country. But this week the Cyprus will become known not only for its regulation but for serving as the host of the first @iFXEXPO, a Forex B2B convention which will be hosted by Google and ConversionPros, a global marketing agency.
Following shakeups in the senior staff at some of the biggest Forex brokers including Forex.com and GFT Forex, OANDA has become the next Forex broker to reshuffle its team, replacing CEO Michael Stumm with K Duker, the former Managing Director for the broker's Asia Pacific division. Mr. Stumm will be remaining on the company's board of directors, but will no longer fill the role of CEO. Instead, Mr. Duker will now be tasked with helping the brokerage expand from its current market position to hopefully enjoy a larger percentage of the industry pie.
Mobile Forex trading is something we've been discussing a lot lately, as Forex brokers and market analysts are trying their hand at developing apps that will revolutionize the Forex world...or at the very least, to simplify the process on some level. But while most Forex brokers have come up with an app or two, FXCM is showing its aggressive side by launching multiple Forex trading apps at once and combining them into an FXCM App Store.
Only days after the company's celebrated Forex analysts Kathy Lien and Boris Schlossberg announced their intentions to Forex.com.
In only 2 months since its launch, MahiFX has shown a considerable desire to respond directly to the needs of its traders and potential traders. In addition to a full homepage redesign which makes the company's information significantly easier to access, the Forex brokerage has just launched a collection of charting tools and indicators which is integrated directly into the company's proprietary trading platform. The new Forex charting tools are fully customizable and enable traders to follow many common indicators including MACD, WMA and others. Traders can also zoom, draw on the charts and trade directly from the charts if they so desire.