industry watch FX BINARY OPTIONS TRADING VOLUMES
Top Retail Forex Brokers Reporting Record Volumes
The world’s largest retail broker by volume - GMO Click Securities, has reported all-time record high volumes during the month of May. Total volumes were charted at $945.2 billion, which is a 1.8% increase from the previous record set in April this year. Apparently recent Bank Of Japan monetary
easing steps continue to trigger diversification by Japanese households.
On the 4th of April the Japanese central bank introduced “qualitative and quantitative easing”. Monetary authorities headed by the new central bank governor Haruhiko Kuroda pledged to achieve the new price stability target with CPI set at 2% year on year in two years’ time.
Apparently the top Japanese broker wasn’t the only beneficiary from rising volatility in the markets, with FXCM reporting their monthly metrics at record levels as well. The company revealed that they have set yet another great month in terms of volume.
The company reported record retail trading volume of $ 390 billion which was 7% higher than April and 27% higher on a year on year basis. Average retail customer’s daily volume was reported at $17 billion in May with an average of 498,089 retail client trades per day in May 2013, 0.1% lower than April 2013 and 37% higher than May2012.
Figures are undoubtedly showing a growing number of retail FX traders across the world are joining us for an ever expanding community.
The SEC has put one of the big binary options providers on their public alert list.
The Securities and Exchange Commission has issued a statement warning investors about the potential risks of investing in binary options and has charged a Cyprus-based company with selling them illegally to U.S. investors. This comes as the next step against this particular industry after Italy and Japan have altogether banned binary options trading
The SEC and the Commodity Futures Trading Commission (CFTC) have recently issued a joint Investor Alert to warn investors about fraudulent promotional schemes involving binary options and binary options trading platforms. Much of the binary options market operates through Internet-based trading platforms that are not necessarily complying with applicable U.S. regulatory requirements and may be engaging in illegal activity.
According to the SEC’s complaint against
one
FX REGULATION Russia is the latest country to introduce forex regulations The regulation of the FX Market in Russia
The Russian “Duma” has passed a draft federal law introducing changes to the Federal law on Securities, which aims at regulating activities of the OTC Foreign exchange brokers. The bill was developed with the support of experts from the self-regulatory organization “Center for regulation of OTC financial instruments and technologies”. According to the bill companies, which provide services as forex market makers will have to undergo a licensing procedure and obtain a compulsory membership in the financial sector’s self-regulating organization. ”
Additionally it requires forex retail broker companies to have public “rules of operation” containing the procedure for determining the market price, term and manner of the transaction execution. Market participants and end-customers will have the right in court to protect their legitimate interests.
particular the company
options broker filed in federal court in Nevada,
binary began
offering and selling binary options to U.S. investors in 2010. The company persuaded investors to open accounts with it, deposit money into those accounts, and then purchase binary
options whose underlying
assets include stock and stock indices. The company’s solicitation of U.S. investors has been quite successful and attracted some customers with very modest means. The SEC stated an example, in which an investor had a monthly income of $300 and a net worth of less than $25,000, and another customer who was solicited to deposit additional funds into his trading account even after he informed the company’s representative
that he was
unemployed with less than $1,000 in his checking account.
FX TRADER MAGAZINE July - September 2013
70
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