Check out the latest breaking news from the dynamic world of forex trading. Maintain your edge with up-to-the-minute coverage of the latest regulatory changes, industry conferences, broker developments and more.
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Hurricane Irene pounded the American Eastern Seaboard this past week, though it's hardly the only such unusual weather event to hit the country or indeed the whole planet recently. In fact, over the past couple of years, we've seen a vast increase in droughts in some areas along with floods in other areas.
Forex trade volumes in Turkey top $18 billion on a daily basis, though little has yet been done by way of protecting the investors, and until now, there has been little recourse for traders who have been wronged by a Forex broker within Turkey's borders. The country's capital market regulator, however, has ruled that in the coming days, only regulated brokers will be permitted to offer Forex trading services within the country's borders. Vedat Akgiray, Persident of Turkey's Capital Markets Board, has noted publicly that with no regulations, traders in search of high returns for low investments often lose their money quickly and entirely. Regulations for Forex brokers in Turkey will prevent these widespread losses and protect the thousands of Turkish traders.
The Arab Spring has turned into a blazing hot summer where, as I write this, Libyan rebels are finishing up taking control of their capital city and Egypt is in the throes of convulsions following the start of Mubarak's trial and the recent terror attacks emanating from the Egyptian Sinai.
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Industry experts have long touted the value of gold bullion as a safe investment during times of war or recession. Even when global currency values become erratic, gold has always been upheld as the ideal choice for the wary investor. Recent events, however, have turned this notion on its head. With the ongoing US debt crisis and uncertainty about the stability of the US economy plaguing the world, it was only natural to see gold in high demand. Bloomberg reports that the year 2011 has seen an increase in gold investment of 33% with a record peak on August 22: gold futures for December delivery closed at almost $1.891.90 per ounce on New York's Comex. Only two days later, however, investors decided to sell en masse, taking advantage of the record high and effectively dropping the value of gold to a level that has not been seen since December 2008.
Doug Rosen, a full-time trader, has recently set up the Forex Trade Plans. He provides traders with intraday calls according to his Fibonacci levels starting with just the EURUSD. DailyForex.com sat down with Doug and discussed his journey into trading, his live room and how he views the markets.
In recent weeks, iForex has been brutally scrutinized following allegations that it breached consumer protection policies – but new claims against another reputable broker, FXCM (aka Forex Capital Markets), confirm that such malpractice can happen even among the largest brokers, and that it is for just these circumstances why trading with a regulated Forex broker is absolutely critical.
The concept that war stimulates the economy has long been disproven, but a look at international headlines indicates that many people still haven't gotten that memo. In recent days, rioters worldwide have taken to the streets to protest the economic crises that have send stock markets plummeting, job markets reeling and Forex markets into a tailspin of volatility.
Only weeks after its regulation was suspended by the Hungarian Financial Services Authority, the company has won an appeal to have its license reinstated. The Budapest Metropolitan Court rebuffed the original ruling of the HFSA and has now allowed iForex to conduct business on behalf of its existing customers, and to accept new traders. This judgment will be in effect until the petition by iForex for a permanent reregulation is resolved by the courts.