as required in the current rules, is of limited value to customers and can even be misleading. We believe that the bid-ask spread provides more complete information about customer costs. Therefore, NFA proposes amending the interpretive notice to require Forex Dealer Members to disclose the bid-ask spread rather than the mark-up or mark-down. Of course, commissions and similar charges would also be disclosed.
The forex rules were modeled after securities industry requirements for over-the-counter (OTC) securities. Consequently, the forex rules currently require Forex Dealer Members to provide customers with written confirmations that include mark-ups and mark-downs, commissions, costs, fees, and other charges. As used in the securities industry and NFA requirements, a mark-up or mark-down is the difference between the price the Forex Dealer Member gives its customer and the price at which the Forex Dealer Member can buy (if the customer bought) or sell (if the customer sold) the same currency pair for its own account.
In other words, if the Forex Dealer Member can hedge its risk with a bank at a 4 pip spread and it offers its customers a 6 pip spread with the same mid-point, then the Member has widened the spread by 1 pip on each side. This means that the Forex Dealer Member marked up the price by 1 pip for customers who bought the currency pair and marked down the price by 1 pip for customers who sold the currency pair.
[ForexGen Money Manager]
An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.Benefits of being a Money Manager with [ForexGen]:
* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”
The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.
The most competitive trading conditions:
* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
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