RETAIL e-FX CLIENT
relatively low cost solutions
where you can set basic
parameters and variables for
trading conditions, right up to
the high end very expensive
black box and hubs which have
been developed by teams of
professional programmers,
mathematicians and analysts
over a number of years.”
Regulation for crisis
On how the current global
regulatory and legal CFD
landscape varies from region to
region, Xydas says regulators react
FxPro platformto protect their own markets in
times of crisis and this is what has
happened in the recent global Top providers
financial crisis. The European Union has implemented There are a number of large FX CFD providers in the
the Markets in Financial Instruments Directive world, with FxPro being one of them. FxPro offers an
(MiFID), which enables investment firms to provide array of sophisticated currency tools and services,
their services across the EU in a harmonised manner. including the industry's most advanced institutional
“The introduction of MiFID in 2007 has been one of type trading conditions offered to all clients for CFDs
the main reasons for the increase in activity by both on Spot FX, Futures, Stocks and Spot Precious
investment firms and investors in the EU,” he states. Metals. FxPro's major offering is the ability to access
all major financial markets on a number of trading
The introduction of MiFiD provided a regulatory platforms with one trading account, suiting traders of
regime for investment services for the 30 member all types.
states of the EEA (EU plus Iceland, Norway and
Lichtenstein), adds Woolfe. “This has encouraged the ETX Capital is among the top companies in CFD FX
introduction of CFDs to a far wider audience across technology. There are over 30 currency pairs available
to trade 24 hours a day, as both a regular size contractmany different countries and local regulation control
and a mini contract. The spreads remain fixed at allauthorities,” he explains. “This has resulted in CFDs
times and are as low as two pips on EUR-USD, EUR-becoming a trusted and accepted structure for trade.
GBP and USD-JPY. FX customer support is alsoThe CFD principle has also been embraced by regions
outside the EEA, such as
Australasia, where there has
always been an appetite and
culture for self investment.”
It is really only in the US, where
CFDs are not available, that
there is a massive variation, says
Jones. He says: “In most other
major markets, the approach
does not differ too much. In
markets such as the UK, for
example, there is also spread
betting in addition to CFDs,
which could be thought of as a
tax free CFD.” ETX Capital platform
|144 october 2009 e -FOREX
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