Forex Yellow Pages

It was Europe just about all the time once again last week as markets moved to the cadence of the political machinations in Greece, Italy and the EU. After what seemed like inertia in Greece and Italy concerning their respective political leadership, both countries moved to replace their prime ministers. In Greece after several days of dithering, missed deadlines and public and private outrage, there finally is a new prime minister. On November 10^th, Lucas Papademos, a former vice president of the European Central Bank, was named to replace George Papandreou, who had pledged to stand down four days earlier. Mr Papademos, an academic economist and a member of no political party, has the reputation that is reassuring to Greece’s bailout partners. His financial expertise should prove useful when it comes to implementing the complexities of the agreements reached with the EU and IMF.

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• it has been a very turbulent week for the market 翻譯

Light years ago, in a galaxy far, far away…. financial institutions, banks and international monetary funds were the only participants in the trading of foreign exchange instruments.

Thats a fancy way of saying forex!

Forex brokers at the retail level did not exist because these institutions monopolized the foreign exchange due to their abilities to have access to information and data that allowed them to hedge their interests and profit from the monetary policy that the average investor could not get to very easily. This, combined with government regulations and the huge volume required in trades to maintain adequate liquidity,  prohibited the small speculator from participating.

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Forex broker is an intermediary between a trader and a currency market. Retail trading isn’t possible with Forex brokerage. Finding the right Forex broker among hundreds of the online firms isn’t an easy task. That’s why you need to inform yourself on the specific broker that you will want to work with and collect important information on certain aspects.

The first question you have to ask yourself is: is the broker I want to use regulated? There must be no doubt about this first point. All regulated brokers must submit financial reports to regulatory authorities, and when they fail to do it, authorities have the right to fine them or terminate their membership. This enforces Forex brokers to keep transparent financial reports.

The brokers must be regulated by their local regulatory authorities, for instance, for brokers based in the US, they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), Swiss based brokers must be regulated by the FDF (Swiss Federal Department of Finance) and so on.

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The online forex trading industry is one of the most dynamic online industries. Most online forex traders are US citizens so the recent events regarding the top poker rooms active on US market also affected the forex market. The events on the Black Friday were totally unexpected and no one saw it coming.  This unprecedented event raised the level of uncertainty in the online environment as the forex industry was already in a tough situation after the US Commodity Futures Trading Commission (CFTC) imposed new regulations.

These  CFTC regulations led to the limitation of the number of forex brokers that accept US traders and most of the brokers available on the US market have low leverages and unfavorable trading conditions. Under these circumstances more and more US traders look for offshore forex brokers with higher leverages and better trading conditions. Read more…

Stemming the Malaysian Exodus

Recently, YB Teresa Kok asked me “Why are Malaysians so keen to leave this country? Life overseas is not necessarily easier!” I agree that life overseas is not necessarily. In fact my cousins living in Hong Kong, Singapore and London tell me regularly that they miss the food and that things are much cheaper at home. They complain about the weather, high cost of living and their long working hours. Despite this, when the possibility of coming back home is raised, they give me a smile and a shake of their heads.

Is living in Malaysia really so bad? What is it that other countries have that we don’t? Lim Kit Siang posted on his blog in December 2009 that more than 630 Malaysians are migrating overseas everyday, and that number is increasing year on year. Read more…

Currency traders face complexities and nuances come tax time. Currency futures are treated like other types of futures; your accounting is a snap and you enjoy lower 60/40 blended tax rates. However, cash forex can be an accounting nightmare and you face higher ordinary tax rates, unless you �elect out� of IRC 988 for 60/40 treatment. 

By Robert A. Green, CPA 

When it comes to trading in currencies, special tax rules apply.

There are two distinct types of currency trading and each has profound differences in tax and accounting rules.

First, you can trade in currency futures on regulated commodities exchanges and these futures are treated the same as other commodities and futures � as IRC section 1256 contracts.

Or, you can trade �cash forex� in the interbank market (not on regulated futures exchanges) and you are subject to an entire set of special rules � as IRC section 988 contracts. Read more…

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NEW YORK – Stocks rocketed higher and interest rates fell Monday after investors were reassured by a nearly $1 trillion plan to avoid a European debt crisis.

The Dow Jones industrial average rose about 390 points. The Dow and broader stock indexes rose more than 3 percent. Markets also barreled higher in Europe.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.55 percent from 3.43 percent late Friday. Read more…