Dear Brian,
Thank you for your interest in FXCM. Your account is with Forex Capital Markets, LLC, which you will find on the June report as #47 -- not FXCM, LLC (#57).
Forex Capital Markets LLC (FXCM) is regulated as a Forex Dealer Member by the National Futures Association. According to a document released by the NFA, FXCM is the FDM referenced holding in excess of $215 million in customer funds out of a total of over $770 million held by Forex Dealer Members, making Forex Capital Markets LLC the Largest Forex Dealer Member.*
(*Source: http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1704)
According to the latest financial statements (month of March 2007) of all registered FCMs with the CFTC (of which the NFA is a self regulating body), below is a graphical layout of Net Capital for the top FCMs:
* http://www.cftc.gov/tm/tmfcm.htm?from=home&page=mktfcmcontent
FXCM Group has made an unprecedented public release of its balance sheet. We feel that all traders deserve the right to trade with the firm who they feel is financially stable and offers some of the highest amount of protection for their funds. The release of these financial statements will give you the insight needed to analyze FXCM's stability and trust that we will be here for you when you need it.
Highlights of the (unaudited) balance sheet include the following: $120,660,927 In Capital (Assets Minus Liabilities) $98, 657,018 In Operating Cash (Excludes Client Funds) Drew Niv, CEO of the global trading firm, commented: “FXCM is proud of our financial discipline and strong balance sheet. We believe clients should have the necessary information to make intelligent choices. By releasing this information, we hope to set an example for the entire forex industry.”
Balance Sheet (Unaudited) FOR THE MONTH ENDED JANUARY 31, 2007
CUSTOMER CASH
257,529,075
OPERATING CASH
98,657,018
OTHER ASSETS
19,690,853
FIXED ASSETS
9,954,838
TOTAL ASSETS
385,831,784
CUSTOMER DEPOSITS
257,529,075
OTHER LIABILITIES
7,641,782
TOTAL LIABILITIES
265,170,857
FXCM CAPITAL
120,660,927
TOTAL LIABILITIES AND FXCM CAPITAL
385,831,784
FXCM Group consists of FXCM Holdings LLC, FXCM LLC, Forex Trading LLC, Forex Capital Markets LLC, Forex Capital Markets LTD, FXCM Asia LTD, and FXCM Canada LLC.
FXCM is committed to offering clients excellent execution, easy accessibility, and the most exceptional service in the foreign exchange industry. If you have any questions or concerns, please feel free to contact us 24 hours a day. You can reach us via e-mail at sales@fxcm.com, via live chat from our website, or via phone at (212) 897-7660. You may also access our international toll-free numbers from this link: http://www.fxcm.com/contact-fxcm.jsp
Kindest Regards,Stephen CardenasForex Capital MarketsSuite 335 5430 LBJ FreewayDallas, Texas 75240Tel: (888) 503-6739Fax: (877) 229-0004Email: scardenas@fxcm.com
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Tne bank offered me 2.9% if I deposited $50,000. See why I am laughing all the way to the bank earning a net monthly average of 8.4% using a simple, automated system. http://www.wealthsystemsolutions.com/
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Wednesday, August 29, 2007
Monday, August 27, 2007
Top Forex Trading Course
The foreign currency trading market, or forex, is the largest market in the world. Many forex traders believe that they must have the top forex trading course in order to make money in the forex. There is a huge industry that has developed in order to "teach" people how to trade the forex.
Just because there is a forex course available does not mean that this forex course will teach you how to trade the forex profitably. Unfortunately, people are paying thousands of dollars for forex seminars, forex courses, and hundreds for forex signals each month and not learning how to profit in the forex market.
The agency that is the guardian of the forex market, the CFTC, requires that anyone who produces a product on trading the forex, place a disclaimer that the forex is risky and promises of profits are unsubstantiated.
Over 95% of first-time forex traders lose their account because they are not ready to trade the forex. The good news is that you can open up a free forex trading account and practice before you invest your money.
It is recommended that the forex trader start with an inexpensive forex e-book and test out the trading methods from the book in their practice demo accountbefore trying the trading method in a live forex account.
Another way to test the particular forex method recommended is to backtest it. You can kill two birds with one stone by going here to sign up for a freedemo account and get access to a good set of free forex charts:http://www.cbfx.com/charts/chartsDemo.htm
You can also trade the forex by receiving forex trades by e-mail. Signal companies can charge hundreds monthly for these, but there are free forex signals that can make you money. Again, trade these signals in your demo account before you invest your money. Wealth System Solutions has discovered an inexpensive, profitable signal company whose signals can be auto traded.
Will you make money every month? This is one of the biggest misconceptions about the forex market that people make. Making money in the forex is not linear. A top forex trading course will make money for you almost every month and in the long run, will give you profits. Many forex traders jump from system to system because they lose money one month only to find that the next forex trading system makes them money, but not every month. The exponential power of the forex will make you money like no other investment. The more money you earn, the more money you will make.
When you are ready to begin trading forex in a live account, many forex brokers will tell you that you can begin in a mini account for only $250. While it is true that you can open a forex account with that amount of money, it really does not give you the leverage to see your trade move up and down and give you profit. I recommend you start trading in a forex mini account with at least a thousand dollars. If you wish to open a regular forex account, it is suggested that you begin with at least ten thousand dollars to minimize . In fact, our forex broker recommends that we deposit at least $2,500 in a mini account or $25,000 in a standard account for our auto-trading system.
In summary, look for a forex e-book that is under a hundred dollars. Trade the forex system in your free forex demo account. Backtest it with your free forex charts moving back in time with the charts to see how the trade holds up. Begin with a mini account and watch your forex account grow from there. Don't be discouraged and discard your forex trading system because you have one month where you don't profit. Do rethink your forex trading system if it does not give you profits over the long run.
------------------------------------------------------------------------------------------------
Tne bank offered me 2.9% if I deposited $50,000. See why I am laughing all the way to the bank earning a net monthly average of 8.4% using a simple, automated system. http://www.wealthsystemsolutions.com/
------------------------------------------------------------------------------------------------
Just because there is a forex course available does not mean that this forex course will teach you how to trade the forex profitably. Unfortunately, people are paying thousands of dollars for forex seminars, forex courses, and hundreds for forex signals each month and not learning how to profit in the forex market.
The agency that is the guardian of the forex market, the CFTC, requires that anyone who produces a product on trading the forex, place a disclaimer that the forex is risky and promises of profits are unsubstantiated.
Over 95% of first-time forex traders lose their account because they are not ready to trade the forex. The good news is that you can open up a free forex trading account and practice before you invest your money.
It is recommended that the forex trader start with an inexpensive forex e-book and test out the trading methods from the book in their practice demo accountbefore trying the trading method in a live forex account.
Another way to test the particular forex method recommended is to backtest it. You can kill two birds with one stone by going here to sign up for a freedemo account and get access to a good set of free forex charts:http://www.cbfx.com/charts/chartsDemo.htm
You can also trade the forex by receiving forex trades by e-mail. Signal companies can charge hundreds monthly for these, but there are free forex signals that can make you money. Again, trade these signals in your demo account before you invest your money. Wealth System Solutions has discovered an inexpensive, profitable signal company whose signals can be auto traded.
Will you make money every month? This is one of the biggest misconceptions about the forex market that people make. Making money in the forex is not linear. A top forex trading course will make money for you almost every month and in the long run, will give you profits. Many forex traders jump from system to system because they lose money one month only to find that the next forex trading system makes them money, but not every month. The exponential power of the forex will make you money like no other investment. The more money you earn, the more money you will make.
When you are ready to begin trading forex in a live account, many forex brokers will tell you that you can begin in a mini account for only $250. While it is true that you can open a forex account with that amount of money, it really does not give you the leverage to see your trade move up and down and give you profit. I recommend you start trading in a forex mini account with at least a thousand dollars. If you wish to open a regular forex account, it is suggested that you begin with at least ten thousand dollars to minimize . In fact, our forex broker recommends that we deposit at least $2,500 in a mini account or $25,000 in a standard account for our auto-trading system.
In summary, look for a forex e-book that is under a hundred dollars. Trade the forex system in your free forex demo account. Backtest it with your free forex charts moving back in time with the charts to see how the trade holds up. Begin with a mini account and watch your forex account grow from there. Don't be discouraged and discard your forex trading system because you have one month where you don't profit. Do rethink your forex trading system if it does not give you profits over the long run.
------------------------------------------------------------------------------------------------
Tne bank offered me 2.9% if I deposited $50,000. See why I am laughing all the way to the bank earning a net monthly average of 8.4% using a simple, automated system. http://www.wealthsystemsolutions.com/
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